For more than 20 years now, Rwanda has opened its borders to displaced persons who were forced to leave their home countries. Rwanda currently hosts more than 148,000 refugees and asylumseekers. National Bank of Rwanda (BNR) has shown commendable leadership in leveraging financial inclusion as a durable, dignified, and empowering solution to what is traditionally viewed as a humanitarian policy challenge. This case study presents a stocktaking and examination of BNR’s progress in advancing FDP financial inclusion, namely the policy and regulatory barriers that remain, the opportunities, and potential ways forward. In some sense, it can be considered a part of the preliminary diagnostic of FDP financial inclusion in Rwanda.