Retail Payment Systems: What role for the Central Bank and other Public Sector Authorities?
|
|
- Erik Hoover
- 6 years ago
- Views:
Transcription
1 Retail Payment Systems: What role for the Central Bank and other Public Sector Authorities? Cape Town, April 2009 Jose Antonio Garcia The World Bank
2 Contents A few facts and preliminary observations from the WB Global Payment Systems Survey 2008 and Measuring Payment System Development The role of the Central Bank and other authorities in the development of retail payment systems: the experience of the World Bank s PSDG
3 Retail Payment Systems: where do we stand at the moment?
4 Non-cash retail payment transactions per capita for year % 181% % % % Number of transactions % 45% 41% 61% % 100% 80% 60% Growth Rate 2006 vs % % 39% 11% 40% 20% 0 East Asia and Pacific Europe and Central Asia Latin America and Caribbean Middle East and North Africa South Asia Sub-Saharian Africa European Union 15 EU Newer Members Other Developed Countries 0% Regions
5 Retail Payment Systems-Subcomponent 1
6 Retail Payment Systems-Subcomponent 2
7 Preliminary Observations Measuring Payment System Development shows that a country s level of development in the area of retail payment systems has a very strong correlation with that country s overall stage of development Few minor exceptions In areas such as Large-value systems and the Legal Framework, this is not necessarily the case. Many countries have already achieved a high or medium-high level of development in these areas despite their status as low-income or lower-middle income countries
8 Preliminary Observations (cont.) While Legal reforms and improvements to Large-value systems are coordinated/undertaken by a central agent (i.e. the Central Bank), for the most part the development of retail payment systems has been left to so-called market forces Based on all the above: Can the Central Bank (and other authorities) influence the development of retail systems? Should they? If so, how?
9 The role of the Central Bank and other authorities in the development of Retail Payment Systems: the experience of the WB s PSDG
10 Developing efficient, widely spread cashless retail payment systems WB field experience in developing countries shows that the involvement of the central bank (and perhaps other authorities) in the retail payments area is key to accelerate development Forms of action by C.B./authorities Monitoring? Dialogue? Catalyst/ facilitator? Regulation? Direct provision? Less interventionist More interventionist For retail systems, the Central Bank undertaking an operational role would usually be considered the last resort, but cannot be excluded
11 Strategies and Actions WB experience shows that one of the most (if not the most) important accelerators of retail payment sytem development is the full inclusion and buy-in of government entities that handle large volumes of payment transactions National Treasury and Tax Collection Agency (if different) Social Security Institution Utilities... Indeed, strong partnerships with these entities are key to: 1. Reduce the use of cash and/or paper-based instruments 2. Achieve a critical mass of transaction volumes in new or planned systems to make them financially viable/profitable 3. Accelerate the adoption of modern payment instruments by broader segments of the population (which may, in some cases, also result in higher bancarization levels)
12 Strategies and Actions: Government Payments & Collections Discussions on, and work towards the development of new retail systems should therefore include the active participation from key government stakeholders If applicable, better to include them during the design phase Keep in mind the big picture : the potential savings in efficiency for government payments & collections are usually far much greater than the cost of the new system(s) To the extent possible, tailor the new systems to the needs of relevant public sector entities in order to include as many transactions as possible and, especially, achieve high STP ratios All this will also require major changes on the side of the government: from an operational standpoint, but also changes in the overall mentality and business paradigm When difficulties arise and the situation becomes stagnant, the Central Bank is usually the only effective facilitator/mediator
13 Strategies and Actions: Central Bank Oversight Ensure that the Central Bank has sufficient powers and resources to exercise its oversight function over retail payment systems This includes a clear definition of the objective of its involvement and the tools it intends to use to achieve those objectives However, experience shows that Central Banks do not necessarily need to wait for legal empowerment in order to carry out some basic oversight activities for retail payment systems like monitoring, collecting statistics, engaging in dialogue, etc.
14 Strategies and Actions: Central Bank Oversight (cont.) A light approach for Central Banks in retail payments: 1. Monitor developments, including collection of statistics and opinions from market participants, consumers, etc. 2. Ensuring the legal and regulatory framework are adequate for the proper development of retail payment instruments, services and systems 3. Ensure that an appropriate cooperative framework is in place among market participants and between market participants and regulators
15 Strategies and Actions: Central Bank Oversight (cont.) A light approach for Central Banks in retail payments (cont.): 4. Set up appropriate mechanisms to detect and contain frauds in the use of retail instruments 5. The Central Bank making available its settlement services to payment service providers For example, settlement services in central bank money
16 Strategies and Actions: Central Bank Oversight (cont.) A less than light approach for Central Banks in retail payments: 6. Exercising the CB s catalyst role effectively Facilitate agreements between service providers (e.g. interoperability, participation of government entities, balanced regulations, etc.) In general, foster cooperation on infrastructure and competition on value added services 7. Identify (and then promote the adoption of) incentives for individuals and business to start/increase their usage of modern payment instruments and services These incentives are usually linked to pricing policies 8. Carry out an effective payment system oversight that ensures fair competition and access, transparency in prices & terms and conditions of services, proper consumer protection, etc.
17 Strategies and Actions: Consumer Education Financial Literacy (OECD): a combination of consumers /investors : awareness and understanding of financial products and concepts ability and confidence to appreciate financial risks and opportunities to make informed choices to know where to go for help; and to take other effective actions to improve their financial wellbeing.
18 Strategies and Actions: Consumer Education (cont.)... a combination that leads to consumer/investor: Knowledge Action - Empowerment
19 Strategies and Actions: Consumer Education (cont.) Multiplicity of Players at the domestic level Public SectorAgencies Ministry of Finance or Ministry of Economy Ministry of Education Ministry of Social Affairs Central Banks Other Financial Supervisors (Banking, Securities Markets, Pensions, Insurance, Ombudsman, etc.) Other authorities (Consumer Protection, Anti-trust) Private Sector Agents Service providers (individual businesses, unions) Schools and other education institutions NGOs
20 PPP Goals Thank you! Jose Antonio Garcia Payment Systems Development Group The World Bank
Measuring Payment System Development
Measuring Payment System Development Cape Town, April 7th, 2009 Jose Antonio Garcia Payment Systems Development Group Background, Rationale and Purpose for obtaining Payment Systems Indicators Requested
More informationIssues in retail payment systems in emerging markets: the World Bank perspective
Issues in retail payment systems in emerging markets: the World Bank perspective Retail payments: integration and innovation A joint conference by the European Central Bank and De Nederlandsche Bank Frankfurt,
More informationSession 1: Overview of Current and Future Payment Ecosystems
Session 1: Overview of Current and Future Payment Ecosystems Perspective from PSDG, World Bank W3C Workshop Harish Natarajan Senior Payment Systems Specialist The World Bank 1 Public Policy Objectives
More informationPayment Systems Briefing
Payment Systems Briefing Harish Natarajan Social Safety Nets Core Course 2010 Washington DC. December 9, 2010 Payment Systems Development Group The World Bank Payment Systems Development Group Help develop
More informationCyber Threats to the Financial Market Infrastructures: The Authorities Perspective
Cyber Threats to the Financial Market Infrastructures: The Authorities Perspective Massimo Cirasino Practice Manager, Finance and Markets Global Practice FinSAC Regional Seminar on Cyber Preparedness May
More informationMeasuring Financial Inclusion:
Measuring Financial Inclusion: The Global Findex Data Leora Klapper Finance and Private Sector Development Team Development Research Group World Bank GLOBAL FINDEX Financial Inclusion data In depth data
More informationJOINT REPORT ON MULTILATERAL DEVELOPMENT BANKS CLIMATE FINANCE
214 JOINT REPORT ON MULTILATERAL DEVELOPMENT BANKS CLIMATE FINANCE SECTION 1. MDB CLIMATE FINANCE, 214 Part A: Total MDB Climate, 214 Total climate finance provided by the MDBs in 214 in developing and
More informationOPPORTUNITIES AND CHALLENGES OF GLOBAL ECONOMIC CHANGES
OPPORTUNITIES AND CHALLENGES OF GLOBAL ECONOMIC CHANGES Presentation by Mrs. Gabriela Ramos, Chief of Staff and G20 Sherpa, OECD Global Summit of Women, June 6 2014, Paris OECD s membership and global
More informationTHE ROLE OF BANK OF ALBANIA IN IMPLEMENTING THE NRPS STRATEGY LEDIA BREGU, BANK OF ALBANIA TIRANA, JUNE 2018
THE ROLE OF BANK OF ALBANIA IN IMPLEMENTING THE NRPS STRATEGY 2018-2023 LEDIA BREGU, BANK OF ALBANIA TIRANA, JUNE 2018 1 The Albanian National Retail Payments Strategy - a joint effort by Albanian public
More informationCredit The Financial Education and awareness of Credit Users
Credit The Financial Education and awareness of Credit Users INTERNATIONAL CONFERENCE ON FINANCIAL EDUCATION Washington, D.C., May 7-8, 2008 Bruno Lévesque Principal Administrator OECD Financial Affairs
More informationGOOD PRACTICES FOR FINANCIAL CONSUMER PROTECTION
Seminar for Senior Bank Supervisors GOOD PRACTICES FOR FINANCIAL CONSUMER PROTECTION Aurora Ferrari Manager Financial Inclusion Practice Financial Inclusion and Consumer Protection (1) Consumer protection
More informationNumber of countries Average Median
GLOBAL financial DEVELOPMENT REPORT 05/06 appendix A 57 MAP A. DEPTH FINANCIAL INSTITUTIONS To approximate financial institutions depth, this map uses domestic private credit to the real sector by deposit
More informationImportance of financial infrastructure to increase Access to Finance
Building a high performance SME business in the MENA Region Arab Monetary Fund & International Finance Corporation Dubai, 7-8 May 2013 Importance of financial infrastructure to increase Access to Finance
More informationIssuances of Stock by Equity Investees. % Change - Reported (GAAP) Resolution of Tax Matters. Reported (GAAP)
The Company reports its financial results in accordance with generally accepted accounting principles. However, management believes that certain non-gaap financial measures used in managing the business
More informationWomen, Work, and the Economy: Macroeconomic Gains from Gender Equity
Women, Work, and the Economy: Macroeconomic Gains from Gender Equity Kalpana Kochhar Deputy Director Strategy, Policy, and Review Department, IMF June 12, 2014 The views expressed in this presentation
More informationFlore-Anne Messy Principal Administrator OECD Financial Affairs Division
Flore-Anne Messy Principal Administrator OECD Financial Affairs Division 1 I. Global OECD Framework on Financial Education II. III. IV. Role of Intermediaries in Financial Education- the case of the insurance
More informationFinancial Education/Consumer Education : An essential component of the fast evolving financial landscape. 36th IOSCO Annual Conference
Financial Education/Consumer Education : An essential component of the fast evolving financial landscape 36th IOSCO Annual Conference Flore-Anne Messy Principal Administrator, Financial Education and Consumer
More informationGlobal Payments Week Africa-Asia Regional Group Meeting. September 20, 2016 Turin, Italy
Global Payments Week Africa-Asia Regional Group Meeting September 20, 2016 Turin, Italy Objectives of AA Regional Group Meeting Getting know each other and networking Sharing experiences on retail payments
More informationTuesday 5 March Agenda Item 9:30 9:35 Adoption of the Agenda
2 Made up of representatives from the Parties to the Anti-Bribery Convention, the OECD Working Group on Bribery meets four times per year at the OECD Headquarters in Paris, France. Tuesday 5 March 2019
More informationAdaptation preparing for the new conditions
Adaptation preparing for the new conditions Esko Kivisaari, Federation of Finnish Financial Services Madrid 2009-03-16 Shaping the Knowledge and Innovation Communities (KICs) - Climate change mitigation
More informationBelgium November Paying Taxes th edition
Belgium Paying Taxes 2016 10 th edition www.pwc.com/payingtaxes The Paying Taxes methodology The three sub-indicators Both the tax cost and the tax compliance burden are important from the business point
More informationThe WB Clean Technology Fund MENA Renewable Energy Program
The WB Clean Technology Fund MENA Renewable Energy Program Mohab Hallouda Sr. Energy Specialist MENA Energy and Transport Unit World Bank RCREEE/MED EMIP Joint Event Regional Challenges to Green the Power
More informationSomil Nagpal With Pablo Gottret. The World Bank
Somil Nagpal With Pablo Gottret The World Bank 2 Source: National Health Accounts, WHO, 2009 Evolution of Health Financing Systems Low Income Countries Patient Out-of- Pocket Social Insur Gov t Budget
More informationMultilateral Funding
East African Power Industry Convention eapic Nairobi, 31 August 3 September 2010 Multilateral Funding Kurt Simonsen Head of Regional Representation EIB East & Central Africa Office European Investment
More informationECON 450 Development Economics
ECON 450 Development Economics Comparative Economic Development University of Illinois at Urbana-Champaign Summer 2017 Outline 1 Defining the Developing World 2 Indicators of The New Human Development
More informationOutline. The framework. A call for financial education. The OECD and INFE programme. An integrated approach
1 Outline The framework A call for financial education The OECD and INFE programme An integrated approach 2 Selected International Trends Increasing financial risks ( financial crisis) Access and inclusion
More informationTax Administration Diagnostic Assessment Tool MODULE 11: ACCOUNTABILITY AND TRANSPARENCY
Tax Administration Diagnostic Assessment Tool MODULE 11: ACCOUNTABILITY AND TRANSPARENCY Desired Outcome of POA 9 The tax administration is : transparent in the conduct of its activities, and accountable
More informationFiscal Policy and Long-Term Growth
Fiscal Policy and Long-Term Growth Sanjeev Gupta Deputy Director of Fiscal Affairs Department International Monetary Fund Tokyo Fiscal Forum June 10, 2015 Outline Motivation The Channels: How Can Fiscal
More informationThe Strategic Approach to Reforming Payments and Securities Settlement Systems
GLOBAL PAYMENT SYSTEM CONFERENCE REDESIGNING THE LANDSCAPE OF PAYMENT SYSTEMS WORLD BANK Cape Town, SOUTH AFRICA, April 7-10, 2009 The Strategic Approach to Reforming Payments and Securities Settlement
More informationFinancial Inclusion and MSME Programs in Indonesia
2013/SMEWG37/018 Agenda Item: 11.2.1 Financial Inclusion and MSME Programs in Indonesia Purpose: Information Submitted by: Indonesia 37 th Small and Medium Enterprises Working Group Meeting Bali, Indonesia
More informationFlore-Anne Messy Principal Administrator OECD Financial Affairs Division
Flore-Anne Messy Principal Administrator OECD Financial Affairs Division 1 I. Global OECD Framework on Financial Education II. Role of intermediaries in financial literacy and inclusion as key delivery
More informationFinancing the Commodity Sector
Financing the Commodity Sector ARA 2012 - AFRICAN REFINERS ASSOCIATION March 2012 Matthieu LACAZE Deputy Global Head of E&C Finance A New Paradigm: a growing sector which must explore new fuelling sources
More informationTHE WESTERN HEMISPHERE CREDIT & LOAN REPORTING INITIATIVE
THE WESTERN HEMISPHERE CREDIT & LOAN REPORTING INITIATIVE Massimo Cirasino, World Bank José Antonio García, CEMLA Mario Guadamillas, World Bank Margaret Miller, World Bank Table of Contents Project Summary...1
More informationWhy Corporate Governance is Important in APEC Economies
2008/SOM3/EC/WKSP/007 Agenda Item: 2 Why Corporate Governance is Important in APEC Economies Submitted by: Chile Workshop on Corporate Governance Lima, Peru 17 August 2008 Why Corporate Governance is Important
More informationEase of Doing Business Ministry of Economy and Sustainable Development of Georgia 2018
Ministry of Economy and Sustainable Development of Georgia 2018 GEORGIA S RANKING 2018 Georgia s Ranking In 2012 2018 In 2018 - th place amongst 10 countries Overall distance to frontier (DTF) 82.04 score
More informationImplementation of Sustainable Development Goals in the European Union. Focus on development cooperation. Carlos BERROZPE GARCÍA
Implementation of Sustainable Development Goals in the European Union Focus on development cooperation Carlos BERROZPE GARCÍA Head of Sector SDGs DG International Cooperation and Development European Commission
More informationDiagnostics on PFM and Health Financing Alignment the OECD perspective
Diagnostics on PFM and Health Financing Alignment the OECD perspective WHO Collaborative Agenda on Fiscal Space, PFM and Health Financing 26 April 2016 Chris James (Health) Camila Vammalle (Budgeting &
More informationGeneral Guidelines FOR THE DEVELOPMENT OF GOVERNMENT PAYMENT PROGRAMS
General Guidelines FOR THE DEVELOPMENT OF GOVERNMENT PAYMENT PROGRAMS 5/1/2012 DRAFT VERSION FOR PUBLIC CONSULTATION The World Bank ACKNOWLEDGEMENTS This document has been developed by the Payment Systems
More informationContraCeptive SeCurity index user S Guide
ContraCeptive SeCurity index user S Guide December 2006 This publication was produced for review by the United States Agency for International Development. It was prepared by the DELIVER project. DELIVER
More informationWomen, Work, and the Economy: Macroeconomic Gains from Gender Equity
Women, Work, and the Economy: Macroeconomic Gains from Gender Equity Kalpana Kochhar Deputy Director Strategy, Policy, and Review Department, IMF October 12, 2013 The views expressed in this presentation
More informationEconomic Policy Research Foundation of Turkey. Ankara, 2007
Economic Policy Research Foundation of Turkey Ankara, 2007 Economic Policy Research Foundation of Turkey Slide 2 TEPAV Economic Policy Research Foundation of TURKEY EPRI TEPAV TEPAV EPRI (Economic Policy
More informationForeign investment and regional integration in Southern Africa. Lynne Thomas
Foreign investment and regional integration in Southern Africa Lynne Thomas Centre for Research into Economics and Finance in Southern Africa London School of Economics OECD Seminar, Johannesburg, 25-26
More informationNwe Nwe Win Director General Budget Department Ministry of Planning and Finance Myanmar
4 th High-Level Dialogue on Financing for Development in Asia and the Pacific Nwe Nwe Win Director General Budget Department Ministry of Planning and Finance Myanmar Bangkok, Thailand 28 th April, 2017
More informationBEST PRACTICES IN PRIVATISATION. Issues and Challenges
BEST PRACTICES IN PRIVATISATION Issues and Challenges By Mr.Rainer Geiger Head, MENA-OECD Investment Programme MENA-OECD Investment Programme KEY ELEMENTS OF THE PRIVATISATION PROCESS Institutional framework
More informationFinancial Inclusion: Using Financial Education to Reach Out to Undeserved Groups and the Informal Sector
Financial Inclusion: Using Financial Education to Reach Out to Undeserved Groups and the Informal Sector Conference on Financial Literacy: Financial education For All Cape Town, South Africa 27-28 October
More informationCurrent Payment System in Palestine
Current Payment System in Palestine PMA established in 1995 according to Oslo accords. There are 19 banks operating in Palestine, with 210 branches 350 money exchangers most licensed by PMA. No national
More informationI. Importance of Fiscal Transparency. II. The Fiscal Transparency Code. III. The Fiscal Transparency Evaluation
Fiscal Transparency Code & Evaluation: Outline of the Presentation I. Importance of Fiscal Transparency II. The Fiscal Transparency Code III. The Fiscal Transparency Evaluation IV. Fiscal Transparency
More informationPRI REPORTING FRAMEWORK 2018 Direct Inclusive Finance
PRI REPORTING FRAMEWORK 2018 Direct Inclusive Finance November 2017 reporting@unpri.org +44 (0) 20 3714 3187 Understanding this document In addition to the detailed indicator text and selection options,
More informationSeptember Preparing a Government Debt Management Reform Plan
September 2012 Preparing a Government Debt Management Reform Plan Introduction Preparing a Government Debt Management Reform Plan The World Bank supports the strengthening of government debt management
More informationDr. Gabriel MOUGANI Chief Regional Integration Coordinator West Africa Regional Development and Business Delivery Office (RDGW)
Financing Development: Experiences from Africa, Asia and Latin America The African Development Bank s role and experiences in supporting regional payments systems programs & initiatives in Africa: key
More informationMeasuring Financial Inclusion: The Global Findex Dataset
Measuring Financial Inclusion: The Global Findex Dataset Leora Klapper Lead Economist Development Research Group World Bank 1 Why collect Global Findex data? Sources of Financial Inclusion Data In depth
More informationKey findings: Economic Outlook
Key findings: Economic Outlook Asia s growth is declining to 6% in 2013 from 6.1% in 2012 before picking up to 6.2% in 2014 The two giants growth is moderating despite signs of advanced economies recovery
More informationmechanisms will facilitate inter-regional commerce within a country and help stimulate regional economies. Concerted educational campaigns driven by t
A vision for electronic card payments N Essame 1 Economic and social benefits of electronic payments for transitional economies Numerous studies around the world have concluded that the growth of electronic
More informationInnovation for Financial Inclusion: Indonesia s Perspective
2013/FMP/WKSP1/002 Session 1 Innovation for Financial Inclusion: Indonesia s Perspective Submitted by: Indonesia Workshop on Promoting Financial Access Through Innovative Delivery Channel to Enhance Financial
More informationMANAGING RISK IN EMERGING MARKETS OUR CORE BUSINESS FISCAL YEAR 2013
MANAGING RISK IN EMERGING MARKETS OUR CORE BUSINESS FISCAL YEAR 2013 PROVEN TRACK RECORD 2 IFC IN NUMBERS 57 $63.2bn $49.6bn $13.6bn $24.9bn $18.3bn $6.5bn $1bn Years of profitable investments in emerging
More informationes ork h strop l Net ata bad na C Division r o ati cal Hyde e-s g 07, CD Inte y 20 E f Lart o uar Administrat
ENHANCING RISK AWARENESS AND CAPABILITY Flore-Anne Messy Administrator OECD Financial Affairs Division Conference of the OECD International Network on the Management of Large-Scale Catastrophes 26-27 February
More informationOPEN SPACE 2: FINANCING HIGHER EDUCATION. Berlin, Expert Meeting, March Ulrich Jahn Dr. Detlef Hanne (KfW Development Bank)
OPEN SPACE 2: FINANCING HIGHER EDUCATION Berlin, Expert Meeting, 20-21 March 2017 Ulrich Jahn Dr. Detlef Hanne (KfW Development Bank) Process OS 2: Introducing ourselves Basics Guiding Questions Discussion
More informationPublic Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized PPI data update note 22 June 29 Assessment of the impact of the crisis on new PPI projects
More informationPrivate Participation in Infrastructure: Lessons Learned. Mobilizing Private Capital and Management into Infrastructure Development
Private Participation in Infrastructure: Lessons Learned Mobilizing Private Capital and Management into Infrastructure Development Enhancing the Investment Climate: The Case for Infrastructure OECD Global
More informationAPEC Finance Ministers Process (FMP) Roadmap/Cebu Action Plan
Annex A. APEC Finance Ministers Process (FMP) Roadmap/Cebu Action Plan We, the APEC Finance Ministers launched the Cebu Action Plan (CAP) on 11 September 2015 in Mactan, Cebu, with the goal of building
More informationBasel II Pillar II Practice Study The World Bank By Ana María Avilés
Basel II Pillar II Practice Study The World Bank By Ana María Avilés Washington DC October 22, 2018 Outline 1. Basel II Framework 2. Basel II Pillar II 3. Basel II Pillar II Practice Study 4. Main Findings
More informationResults of the global questionnaire of the Friends of the Chair on broader measures of progress
Statistical Commission Forty-sixth session 3 6 March 2015 Item 3(a) (i) of the provisional agenda Items for discussion and decision: Data in support of the post-2015 development agenda: Broader measures
More informationInternational Insurance Foundation, for extending me this invitation to be with you today. You
International Insurance Foundation (IIF) Annual Meeting Symposium Rules That Work For Everyone: The Emerging Global Regulatory Framework Keynote Address International Standard Setting for Insurance Regulation
More informationDIGITAL FINANCIAL INCLUSION OVERVIEW OF POLICY ISSUES
DIGITAL FINANCIAL INCLUSION OVERVIEW OF POLICY ISSUES Margaret Miller Global Lead Responsible Financial Access May 19, 2017 unserved Broader Inclusion Customer-centered product innovation Financial capability
More informationAligning macroeconomic policy to support sectoral strategies for employment promotion Notes for session 1-2
Aligning macroeconomic policy to support sectoral strategies for employment promotion Notes for session 1-2 Prepared by Yan Islam, Employment Policy Department, ILO, Geneva For labour economics training
More informationResponsible Digital Credit What does responsible digital credit look like? John Owens July 12, 2018
Responsible Digital Credit What does responsible digital credit look like? John Owens July 12, 2018 CFI Fellows Program Established in July 2015 with the goal of encouraging independent research and analysis
More informationThe role of Exchanges in accelerating the growth of the Green Bonds Market: the South African case
The role of Exchanges in accelerating the growth of the Green Bonds Market: the South African case A Presentation to the Colloquium on Climate Finance (Townhouse Hotel, Cape Town) By: Shameela Soobramoney
More informationQ&A of ODA and ODA Loans. This chapter provides essential information on Japan s official development assistance (ODA) and ODA loans.
5 Q&A of ODA and ODA Loans This chapter provides essential information on Japan s official development assistance (ODA) and ODA loans. 1. Japan s ODA Q.What is ODA? A. ODA is the assistance to developing
More informationSession 1: PFM Reform Strategies Supply-driven versus Basics First Reforms. Mr. Holger Van Eden 25 th November
Asian Regional Seminar on Public Financial Management PFM Reforms: The lessons learnt promises and tears Session 1: PFM Reform Strategies Supply-driven versus Basics First Reforms Mr. Holger Van Eden 25
More informationSECTOR ASSESSMENT (SUMMARY): FINANCE
Inclusive Financial Sector Development Program, Subprogram 1 (RRP CAM 44263 013) SECTOR ASSESSMENT (SUMMARY): FINANCE 1. Sector Performance, Problems, and Opportunities a. Sector Context and Performance
More informationImplementing the SDGs: A Global Perspective. Nik Sekhran Director, Sustainable Development Bureau for Policy and Programme Support, October 2016
Implementing the SDGs: A Global Perspective Nik Sekhran Director, Sustainable Development Bureau for Policy and Programme Support, October 2016 SITUATION ANALYSIS State of the World today Poverty and Inequality
More informationSESSION 4: REMITTANCES AND FINANCIAL INCLUSION
UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENTENT Expert Meeting on THE IMPACT OF ACCESS TO FINANCIAL SERVICES, INCLUDING BY HIGHLIGHTING THE IMPACT ON REMITTANCES ON DEVELOPMENT: ECONOMIC EMPOWERMENT
More informationSession IV. What is the SMEPI?
Session IV What is the SMEPI? SME Policy Index Objectives To compare SME policy across countries and time and measure progress on policy convergence at regional level; To assess the level of policy development
More informationCreating Regulatory Frameworks for Microinsurance
Creating Regulatory Frameworks for Microinsurance Presentation at Annual Microinsurance Conference Making insurance work for Africa at Cape Town, November 2006 Arup Chatterjee, International Association
More informationWhat is So Bad About Inequality? What Can Be Done to Reduce It? Todaro and Smith, Chapter 5 (11th edition)
What is So Bad About Inequality? What Can Be Done to Reduce It? Todaro and Smith, Chapter 5 (11th edition) What is so bad about inequality? 1. Extreme inequality leads to economic inefficiency. - At a
More informationPotential Sources of Financing : Step 3 Joint Vienna Institute, Vienna, Austria February 23 27, 2015
Potential Sources of Financing : Step 3 Joint Vienna Institute, Vienna, Austria February 23 27, 2015 Step 3: Potential Instruments & Characteristics Objective Identify potential sources of finance, their
More informationWorld Economic Situation and Prospects asdf
World Economic Situation and Prospects 2016 asdf United Nations New York, 2016 Table of Contents xi Table of contents Acknowledgements... Explanatory notes... Executive summary... iii iv v Chapter I Global
More informationInvesting with Impact Unlocking Value for Business and Society
Investing with Impact The U.S. Department of State is fostering a new approach to development and diplomacy that relies on the strength of America s diverse resources. In this vein, the Global Partnership
More informationForeword. The Bank of Mongolia (The Central Bank) Public Education and Information Center
Foreword Financial market stability is defined by the level of fulfillment of interrelated objectives such as to secure individuals trust and confidence in financial markets, improve their financial literacy,
More informationTOWARDS UNIVERSAL FINANCIAL ACCESS: THE ROLE OF AGENT BANKING
TOWARDS UNIVERSAL FINANCIAL ACCESS: THE ROLE OF AGENT BANKING Moderated by Massimo Cirasino Manager, Financial Infrastructure and Remittances, World Bank Panelists Vicente S. Aquino, Deputy Governor, Bangko
More informationInternational Comparison Program (ICP)
International Comparison Program (ICP) 2003 2006 ROUND Responding to the need for robust global economic statistics The International Comparison Program (ICP) is a global statistical initiative involving
More informationMicro Finance in the World and in India: Status, Problems and Prospects
Micro Finance in the World and in India: Status, Problems and Prospects By Vijay Mahajan Chair, CGAP ExCom Founder and CEO, BASIX Social Enterprise Group, India President, MFIN (MFI Network of India) March
More informationOECD releases Germany peer review report on implementation of Action 14 Minimum Standards
21 December 2017 Global Tax Alert OECD releases Germany peer review report on implementation of Action 14 Minimum Standards EY Global Tax Alert Library Access both online and pdf versions of all EY Global
More informationFINANCIAL INTEGRATION AND INCLUSION: MOBILIZING RESOURCES FOR SOCIAL AND ECONOMIC DEVELOPMENT
FINANCIAL INTEGRATION AND INCLUSION: MOBILIZING RESOURCES FOR SOCIAL AND ECONOMIC DEVELOPMENT DOCUMENTS PREPARED BY THE INTER-AMERICAN DEVELOPMENT BANK S VICE PRESIDENCY OF SECTORS AND KNOWLEDGE KEY STATISTICS
More informationDoing Business 2011 Paying Taxes
Doing Business 011 Paying Taxes Marcin Piątkowski Senior Economist Warsaw, Poland November, 010 1 Paying Taxes as part of a broader project The Doing Business project measures business regulations taking
More informationMulti-stakeholder Consultations on Financing for Development: Building Inclusive Financial Sectors for Development & Regulation of Microfinance
Multi-stakeholder Consultations on Financing for Development: Building Inclusive Financial Sectors for Development & Regulation of Microfinance Alex Trepelkov Deputy Director, Department of Economic and
More informationThe 2030 Agenda for Sustainable Development and the new European Consensus on Development
The 2030 Agenda for Sustainable Development and the new European Consensus on Development Martin HEATHER Policy Officer, European Commission s Directorate-General for International Cooperation and Development
More informationMegacities & Urbanisation in Asia:
Megacities & Urbanisation in Asia: Implications for Non-life Insurers Amitabha Ray, Director, Property & Specialty Underwriting, Swiss Re, Singapore Branch, Contents Urbanisation trends & future growth
More informationAll findings, interpretations, and conclusions of this presentation represent the views of the author(s) and not those of the Wharton School or the
All findings, interpretations, and conclusions of this presentation represent the views of the author(s) and not those of the Wharton School or the Pension Research Council. 2010 Pension Research Council
More informationPublic financial management is an essential part of the development process.
IDA at Work Public Financial Management: Tracking Resources for Better Results Public financial management is an essential part of the development process. It supports the efficient and accountable use
More informationADB s New Health Sector. Dr. Susann Roth, Senior Social Development Specialist
ADB s New Health Sector Dr. Susann Roth, Senior Social Development Specialist September 2015 Outline 1. ADB s approach 2. Ongoing innovations 3. Expanding investment frontiers 4. Opportunities for collaboration
More informationRepublic of Indonesia: Promoting Innovative Financial Inclusion (Financed by ADB Technical Assistance Special Fund)
Technical Assistance Report Program Number: 48207-003 Transaction Technical Assistance (TRTA) June 2017 Republic of Indonesia: Promoting Innovative Financial Inclusion (Financed by ADB Technical Assistance
More informationCAPACITY DEVELOPMENT WORKSHOP AIDE MEMOIRE AUDITING FOR SOCIAL CHANGE
6 th Global Forum on Reinventing Government Towards Participatory and Transparent Governance 24 27 May 2005, Seoul, Republic of Korea CAPACITY DEVELOPMENT WORKSHOP AIDE MEMOIRE AUDITING FOR SOCIAL CHANGE
More information2016 APEC JOINT FINANCE MINISTERIAL STATEMENT
2016 APEC JOINT FINANCE MINISTERIAL STATEMENT 1. We, the Finance Ministers of the economies of Asia-Pacific Economic Cooperation (APEC), convened our 23rd meeting in Lima, Peru on 15 October 2016 under
More informationMARKET COMMENTARY. Horizon Asia Opportunity Q Commentary. October Horizon Kinetics LLC
Horizon Asia Opportunity Q3 2016 Commentary October 2016 2016 Horizon Kinetics LLC In the third quarter of 2016, the Horizon Asia Opportunity Institutional Composite ( Strategy ) declined 0.3%, net of
More informationACP-EU JOINT PARLIAMENTARY ASSEMBLY RESOLUTION 1
ACP-EU JOINT PARLIAMTARY ASSEMBLY ACP-EU/101.868/15/fin. RESOLUTION 1 on the financing of investment and trade, including infrastructure, in ACP countries by the EU blending mechanism The ACP-EU Joint
More informationWhat Is Corporate Governance and Why Do We Need It?
What Is Corporate Governance and Why Do We Need It? Dr. Nasser Saidi Executive Director Hawkamah ICG Chief Economist, DIFC LCGTF CG Code Workshop 2 March 2007 Agenda Basics: what is Governance? Corporate
More information26 April CarolAnne Macdonald Policy, Risk and Research Division Financial Services Authority 25 The North Colonnade Canary Wharf London E14 5HS
26 April 2013 CarolAnne Macdonald Policy, Risk and Research Division Financial Services Authority 25 The North Colonnade Canary Wharf London E14 5HS Email: transparencydp@fsa.gov.uk Dear CarolAnne LMA
More informationIFC in Serbia Per Kjellerhaug, IFC Regional Manager, Western Balkans
IFC in Serbia Per Kjellerhaug, IFC Regional Manager, Western Balkans The World Bank Group IBRD International Bank for Reconstruction and Development IDA International Development Association IFC International
More informationMobilizing Domestic Resources and Increasing Public Expenditure Efficiency for Infrastructure Development
Mobilizing Domestic Resources and Increasing Public Expenditure Efficiency for Infrastructure Development AR Desapriya Deputy Secretary to the Treasury Sri Lanka UN ESCAP Meeting on Policy Dialogue on
More information