We successfully launched the Equity in Finance project on 3rd April in the Attlee Suite, at Portcullis House. The project is a ground-breaking campaign to address financial inequality faced by people from minority ethnic backgrounds.
Over 150 guests made up of financial service providers, statutory bodies, race equity groups and other community organisations were in attendance to witness the launch of a seminal community coalition for racial justice in finance. The event was hosted and supported by Uma Kamaran MP, with a keynote speech from Deputy Mayor of London, Debbie Weekes-Bernard.
Attendees heard from the project’s research partner Clearview Research present findings and recommendations from their rapid literature review, heard from our Lived Experience Steering Committee and listened intently as an expert panel which included Nationwide, Pathway Fund, Fair4All Finance and MoneyMatix discussed the imbalances in our financial services system and potential solutions.
The project, led by Rooted Finance and Money A+E, aims to expose and dismantle the “ethnicity premium” – the direct and indirect extra costs for financial goods and services paid by individuals from minority ethnic backgrounds. This ambitious, evidence-based campaign will seek to identify and address systemic, cultural, and structural barriers to financial access.
Muna Yassin MBE, CEO at Rooted Finance explains: “The ‘ethnicity premium’ is a hidden tax on people from minority ethnic communities, hindering their financial well-being and economic potential, the ‘ethnicity premium’ is not just a statistical anomaly; it’s a lived reality for countless individuals from a minority ethnic background. It’s a systemic injustice that blocks economic mobility and perpetuates inequality. We believe in the power of co-production and evidence-based solutions. Through the Equity in Finance project, we are determined to dismantle these barriers and create a financial system that truly serves everyone.”
United in the pursuit of Racial Justice in Finance: Rooted Finance and Money A+E bring a wealth of experience in debt advice and financial inclusion, co-production, and strategic campaigning to this critical initiative. Their deep understanding of grassroots issues and established sector-wide influence position them to deliver lasting systemic change. If you are interested in finding out more about the Equity in Finance project, please let us know how you would like to engage with us