The primary role of a financial regulator is to maintain the safety and soundness of a financial system. However, financial regulators are now embracing financial inclusion as a new goal in recognition that healthy financial systems should serve the needs of the majority of the population. Promoting financial inclusion is a new and different role for financial regulators. It raises new challenges such as how to encourage banks to serve low-income clients who offer few obvious profitable opportunities, and how to regulate mobile network operators (MNOs) and other innovative providers offering financial services.