US Senator Paul Sarbanes            & Dave Grace

Testifying on Remittances at the German Ministry of Finance

DGA is motivated by the powerful impact that financial services can have for unserved and underserved communities. Getting to an enabling environment that sufficiently protects consumers and provides supervisors with the information they need while ensuring institutions have space to innovate, flourish or stumble is a balancing act.

Examples of our policy work include:

  • Drafted the National Financial Inclusion Strategy for Bank of Uganda  in collaboration with the Ministry of Finance, Planning and Economic Development  (2017).  This has been held out a model in the region by the Alliance for Financial Inclusion (AFI).
  • Primary consultant for Paraguay's Financial Inclusion Strategy for the Central Bank of Paraguay and the Ministry of Finance (2014), Financial Sector Development Implementation Plan for Swaziland (2016), Financial Sector Development Implementation Plan for Sao Tome and Principe (2016) and National Financial Inclusion Strategy for Zambia in 2017.
  • In 2018 we helped the City of Madison, Wisconsin design a youth savings account program for low-income children and their families. The goal of the program is to build a college-bound identity beginning as early as kindergarten, incentivize them to grow college savings, and connect un/under-banked families with healthy and safe financial services. 

  • Authored amendments to liberalize MFIs regulations in Lesotho in 2018, and MFI directives in Myanmar in 2016-19, a new law for MFIs and a credit guarantee corporation.  Authored Lesotho Financial Cooperatives Bill of 2016, Malawi Financial Cooperatives Act in 2008 and co-author of Financial Consumer Protection Bill of 2019 for Lesotho.

  •  Co-chair of a global working group Consumer Protection for the Center for Financial Inclusion (2012 – 2014) to move towards full financial inclusion.  Included evaluating and coordinating efforts of the World Bank and OECD’s activities in consumer protection compared to an industry-led approach.  Helping develop a certification process for consumer protection as a steering committee member of the SMART Campaign.
  • Designed a deposit Insurance system for the Central Bank van Suriname (2013). On behalf of the International Monetary Fund gather and analyzed data on the deposit structure of all financial institutions.  We provided guidance to the Central Bank in designed the policy framework and developed the financial models for the country's first deposit insurance system.
  • Drafted a deposit insurance system for credit unions in Barbados (2009-10). On behalf of the Barbados Credit Union League developed financial models for credit unions to offer deposit insurance through the Barbodos Deposit Insurance Corporation (BDIC). This included a financial review of all 35 credit unions, the structure of deposits and their health. Led negotiations with the Ministry of Finance and BDIC for adoption of the deposit insurance framework. The framework was officially adopted by the Prime Minister in 2012.
  • Cooperative Banks Deposit Insurance Design for National Treasury of South Africa (2008-09). On behalf of the National Treasury of South Africa a deposit insurance system was drafted for cooperative banks. This included a review of the structure of sector deposits, assessment of the financial condition and the possible loss ratio comparison against fund size and fees.
  • Developed recommendations to improve legislation & regulation in the Eastern Caribbean region as well as in  Rwanda.