The ADA Chair in Financial Law (Inclusive Finance) at the University of Luxembourg’s Faculty of Law, Economics and Finance, together with Appui au Developpement Autonome (ADA), a non-governmental organisation in inclusive finance, and the European Investment Bank Institute has organised the Certificate in Law and Regulation of Inclusive Finance each year since 2016.
From the 18 to the 28 January 2021, a diverse group of 50 students, came together to complete the programme. With COVID regulations in place, the fifth edition of this 10-day programme was moved entirely online.
Courses were taught by Faculty professors, including the ADA Chair holder, Professor Dirk Zetzsche, the ADA Executive Director Ms. Laura Foschi, as well as professionals from the European Investment Bank, the European Investment Fund, and various international law and auditing firms.
Lectures included various subjects but focused mainly on the following topics:
· Performance Measurement and Management
· Sustainable Inclusive Finance
· FinTech & Financial Inclusion
· RegTech & Financial Inclusion
· Microfinance
· Risk Management and COVID-19
Making the switch from face-to-face to online learning
While in 2020, 22 students were admitted to the programme which took place in Luxembourg, the switch from face-to-face classes to online learning enabled a record-number of 50 candidates to complete the programme this year.
Not only did online classes allow the University to accept more participants, the department of Law was also able to offer a top-class programme while involving more international speakers.
Recordings of the courses were uploaded on YouTube and available to all participants until the end of the programme. This offered the possibility the review the course content multiple times.
Although distance learning offered some great advantages and the online communication went smoothly, having no direct contact with the participants brought up some new challenges for both students and professors.
Lecturers had to reduce their case studies because the group work which they had relied on in previous years was not possible online. A fully remote programme means that the personal connection and socialisation is more difficult. Sharing ideas and experiences with other participants was limited.
A flexible, but effective study experience
According to the students, the online format was well structured and ensured effective learning from home. The online programme offered more flexibility, accessibility and was cost friendlier than face-to-face learning.
As most of the course participants are professionals with fulltime jobs, remote classes allowed them to manage their time even better and find a balance between their work schedule, private life and the online programme.
Regarding the course content, participants were particularly interested in courses covering RegTech (Regulatory Technology) topics. As the RegTech industry continues to grow and develop, students are eager to learn more about the massive impact the industry will have on the future.
Some of the participants said that the programme has given them new excitement to continue with further studies or even pursue a PhD under the guidance of one of the lecturers. Other students will use their newly acquired skills and knowledge about the latest developments in the fin-tech and financial inclusion sector to boost their professional careers.
About the Certificate
The Certificate in Law and Regulation of Inclusive Finance is designed to educate and train future professionals in inclusive finance matters and combines traditional financial law with inclusive finance and development subjects.
The objective of the programme is to deepen the participants’ specific knowledge and skills with a focus on developing countries. Furthermore, the programme aims at ensuring awareness of the topic, enabling an exchange with regulators and financial intermediaries, and facilitating further academic and non-academic cooperation.
Candidates who have registered for the programme are highly motivated and have diverse and interesting backgrounds. As the number of participants admitted to the course usually is limited, students are selected by the Course Director in cooperation with ADA.
To find out more, including how to apply, visit the programme website.