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Lesotho Lesotho
74 – Lesotho Lesotho 2006 At a Glance Population (mn) 1.8 Population Growth (annual %) -0.2 Official Language (s) English/Sesotho Currency Loti (LSL) GDP (Current US$ bn) 1.4 GDP Growth (annual %) 1.6 GDP Per Capita (US$) 806 FDI, net inflows (US$ mn) (2005) 47 External Debt (US$ mn) 700 External Debt/GDP (%) 46.6 CPI Inflation (annual %) 4.5 Exports of goods and services (% of GDP) 41.8 Sovereign Ratings Gross Official Reserves (US$ bn) 0.591 Long Local Foreign Term Currency Currency Gross Official Reserves (in month of imports) 5.3 UNDP HDI RANKing 149 Fitch BB+ BB– Source: AfDB, IMF, UNCTAD, UNDP, UN Population Division 1. Overview of Financial System on treasury bills have moved downward, influenced The Central Bank of Lesotho, (CBL), known until 1982 by the fall in the government borrowing requirement, as the Lesotho Monetary Authority, is charged with and interest rate spreads relative to South Africa have the principal objective to achieve and maintain price narrowed. stability in the financial system. Lesotho is a member Lesotho’s debt indicators have improved markedly. of the Common Monetary Area (CMA) through a With the strengthening of its fiscal position, the trilateral Agreement between South Africa, Swaziland Government reduced the stock of outstanding L and recently Namibia. The CMA replaced the Rand treasury bills from 17% of GDP in 2002/03 to 8% Monetary Area in 1986, accommodating changes in in 2005. Lesotho’s external public debt as a share of the position of Swaziland. While South Africa GDP has also been steadily declining. -
ISC Ziraat Bank Tbilisi Branch
ISC Ziraat Bank Tbilisi Branch Financial Statements |anuary 1, 2015 - December 31, 2015 Table of Contents lndependent Auditor' Report Statement of Financial Position 4 Profit-loss and Other Comprehensive Income Statements 5 Cash Flow Statements 6 Statement of Changes in Equity 7 Explanatory Notes to the Financial Statements 8 Auditing Concern "TSODNISA" Ltd 4 I,Y azha-Pshavela ave., Tbilisi, Georgia. Identiflcation code 2ll344l8$ Tel.: 239-33-50 E-mail: [email protected] Independent Auditor's Repoft (on the reuiew of financial t,Ziraat statements of Bank rbilisi Branch,,, ISC) I' Independent auditor - LTD Audit Concern'Tsodnisa" has audited the (accompanying) financial statements of the lsC "ziraat Bank Tbilisi Branch,,(hereinafter referred to as the company) financial statements (attached to). The financial statements comprised the statement of financial position as December at 31, 2015, the statement of profit-loss and other comprehensive income for 2015, statement of changes in equity, cash flow statement for the reporting period, the basic principles ofaccounting policies and explanatory notes, 2' The Companf s management is responsible for the performance of the financial statements and its fair presentation in accordance with International Financial Reporting Standards (//,?S), This responsibility includes: designing and implementing the relevant internal control free from material misstatement' whether due to fraud or error. our responsibility rs to express an opinion on the presented financial statements based on the performed audit, -
Instructions and Methods of Completing Payment Orders
1 INSTRUCTIONS AND METHODS OF COMPLETING The Payer shall enter the following data into the fields marked with the »Payer« inscription: PAYMENT ORDERS - IBAN, which is Payer’s account number, I. Purpose - Reference, The Instructions and methods of completing payment orders form part of the - Name and address, General Terms and Conditions and are intended for the user of payment - The purpose code, which is published and available on the web page services. The main function of payment services is fast and quality transfer of http://www.zbs-giz.si/news.asp?StructureId=886&ContentId=1889 funds. Speed and quality of conducting payment services depend on a large - Purpose of payment/Deadline for payment and extent on accuracy of data, contained in payment orders. Incomplete data do - Payer’s signature and optionally a stamp if the Payer decides to use the not ensure enough information for booking and processing payment orders, stamp. at the same time they cause additional costs due to longer procedure of acquiring additional information, processing claims and consequently time The Recipient shall enter the following data into the fields marked with the delays at booking. »Recipient« inscription: - Amount, Within the Bank Association of Slovenia, technical standards for the UPN – Universal Payment Order (hereinafter referred to as: UPN) have been prepared. - Date of payment in the DDMMLLLL form, For conducting domestic internal, cross-border and other international - BIC of the Recipient’s bank - optional, payment transactions, internal forms are also in use at the Bank. In - IBAN (SI56 is denomination for Slovenia, for cross-border payments continuation, instructions and methods of correct completing of payment appropriate code shall be used), which is Recipient’s account number, orders and forms are provided. -
General License No. 8A
DEPARTMENT OF THE TREASURY WASHINGTON, D.C. 20220 Office of Foreign Assets Control Libyan Sanctions Regulations 31 C.F.R. Part 570 Executive Order 13566 of February 25, 2011 Blocking Property and Prohibiting Certain Transactions Related to Libya GENERAL LICENSE NO. SA General License with Respect to the Government of Libya, its Agencies, Instrumentalities, and Controlled Entities, and the Central Bank of Libya (a) General License No.8, dated Septernber 19,2011, is replaced and superseded in its entirety by this General License No. 8A. (b) Effective September 19,2011, all transactions involving the Government ofLibya, its agencies, instrumentalities, and controlled entities, and the Central Bank of Libya are authorized, subject to the following limitations: (1) All funds, including cash, securities, bank accounts, and investment accounts, and precious metals blocked pursuant to Executive Order 13566 of February 25, 2011, or the Libyan Sanctions Regulations, 31 C.F .R. part 570, as of September 19, 2011, remain blocked, except as provided in General License No.7A; and (2) The transactions do not involve any persons listed on the Annex to this general license. (c) Effective September 19,2011, the authorization in paragraph (b) ofthis general license supersedes General License No. 1B. Note to General License No. SA: Subject to the limitations set forth in subparagraphs (1) and (2), paragraph (b) ofthis general license authorizes any transaction involving contracts that have been blocked pursuant to Executive Order 13566 because ofan interest by the Government of Libya. Director Office of Foreign Assets Control Annex to General License No. 8A 1. AL BAGHDADI, Ali AI-Mahmoudi (a.k.a. -
Türk Eximbank Uygulamalarinda Risk
T.C İSTANBUL TİCARET ÜNİVERSİTESİ DIŞ TİCARET ENSTİTÜSÜ ULUSLARARASI TİCARET HUKUKU VE AB ANABİLİM DALI TÜRK EXİMBANK UYGULAMALARINDA RİSK YÖNETİMİ YÜKSEK LİSANS TEZİ SILANUR ÇIRAK Danışman Dr. Öğr. Üyesi V. Ferhan BENLİ İstanbul, 2018 ÖNSÖZ Çalışmalarım sırasında benden manevi desteklerini esirgemeyen sevgili babam Hayati ÇIRAK'a, annem Şükran ÇIRAK'a, kardeşim Emrah ÇIRAK'a ve arkadaşım Gökhan ÖZEN'e en içten teşekkürlerimi sunmayı bir borç bilirim. ÖZET Risk Yönetimi temel olarak işletmelerin varlığını sürdürmeye yönelik olası tehditleri tespit edip değerlendirerek önlemeyi veya minimize etmeyi amaçlayan bir sistemler bütünüdür. Bu kavram hayatımıza, 2001 yılında ülkemizde yaşanan Bankacılık Krizi ile girmiş ve Bankacılık Düzenleme ve Denetleme Kurulu'nun(BDDK) benimsediği uluslararası Basel Kriterleri ile tanınır hale gelmiştir. Türk Eximbank'ın ana hedef kitlesi Türkiye'de yerleşik ihracatçılar, ihracat odaklı üretim yapan imalatçılar ile yurtdışında etkinlik gösteren müteahhitler ve girişimciler olmakla birlikte Banka, ilgili gruplara kredi, sigorta ve garanti hizmetleri vermektedir. Bu çerçevede geniş yelpazede hizmet sunan Türk Eximbank'ta olası risklere karşı bütüncül ve uluslararası normlara uygun politikalar belirlenerek banka faaliyetleri ile ilgili riskler yönetilmeye çalışılmaktadır. Bu çalışmada ilk bölümde; Eximbank'ların Dünya Ticaret Finansmanındaki Rolü ve Önemi, Türk Eximbank’ı ticari bankalardan ayıran ve iş modeli ile risk yönetimi politikasını doğrudan etkileyen özellikleri ve Basel prensipleri incelenmiştir. Ayrıca -
Papua New Guinea Economic Update: Slower Growth, Better Prospects
WORLD BANK GROUP PAPUA NEW GUINEA ECONOMIC UPDATE JANUARY 2019 Slower Growth, Public Disclosure Authorized Better Prospects Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized PAPUA NEW GUINEA ECONOMIC UPDATE Slower Growth, Better Prospects January 2019 Preface and Acknowledgements This publication is the second in a new series of Papua New Guinea Economic Updates (PNG EU). It has two principle aims. First, it analyzes the key recent developments in Papua New Guinea’s economy and places these in a longer-term and global context. Based on these developments, and recent policy changes, the PNG EU updates the outlook for Papua New Guinea’s economy and the welfare of its citizens. Second, the PNG EU provides a more in-depth examination of a selected development issue and evaluates the implications of recent trends and policy reforms in terms of the government’s stated development objectives. It is intended for a wide audience, including policymakers, business leaders, and the community of analysts and professionals engaged in Papua New Guinea’s evolving economy. The PNG EU is compiled by the Macroeconomics, Trade and Investment Global Practice, under the guidance of Michel Kerf (Country Director), John Panzer (Practice Director), Ndiame Diop (Practice Manager), and Patricia Veevers-Carter (Country Manager). The core project team comprises Ilyas Sarsenov, Andrew Blackman, and Anthony Obeyesekere. The special focus section is based on the Papua New Guinea Systematic Country Diagnostic prepared by Chandana Kularatne, Manohar Sharma, Daniel Street, and Anthony Obeyesekere. Administrative support is provided by Michelle Lee, Rachel Leka, and Angela Oswyn. Bronwen Brown edited the text. -
Bank of Uganda
Status of Financial Inclusion in Uganda First Edition- March 2014 BANK OFi UGANDA Table of Contents List of Abbreviations and Acronyms ..................................................................................................... iii Executive Summary ....................................................................................................................................iv 1.0 Introduction ............................................................................................................................................. 1 2.0 Concept of Financial Inclusion ......................................................................................................... 1 3.0 Financial Inclusion Landscape for Uganda .................................................................................. 4 3.1 Data Sources ...................................................................................................................................... 4 3.2 Demand Side Indicators ................................................................................................................. 5 3.3 Supply Side Indicators .................................................................................................................... 7 3.3.1 Financial Access Indicators .................................................................................................... 7 3.3.2 Comparison of Access Indicators across Countries. ...................................................................... 14 3.3.3 Geographic Indicators -
SDH and NLB Announce Intention to Proceed with an Initial Public
THIS RELEASE (AND THE INFORMATION CONTAINED HEREIN) IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR WITHIN THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. THIS RELEASE (AND THE INFORMATION CONTAINED HEREIN) DOES NOT CONTAIN OR CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO PURCHASE ANY SECURITIES IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE SUCH DISTRIBUTION OR OFFER IS UNLAWFUL. This announcement is an advertisement for the purposes of the Prospectus Rules of the UK Financial Conduct Authority ("FCA") and Slovenian Financial Instruments Market Act and not a prospectus and not an offer to sell, or a solicitation of an offer to subscribe for or to acquire, securities in the United States or in any other jurisdiction, including in or into the United States, Australia, Canada or Japan. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. These materials do not contain or constitute an offer of securities for sale, or the solicitation of an offer to purchase securities, in the United States. The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act") or under the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold in the United States absent registration under the Securities Act, or pursuant to an available exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities law. -
Hashemite Kingdom of Jordan Update the General Objectives for Education in the Being Broadly Vocationally Or Iented
HASHEMITE KINGDOM FOURTH QUARTER 2001 OF JORDAN A Quarterly Publication of the Jordan Country Unit Public Disclosure Authorized Update The World Bank Group STRATEGIC ISSUES FOR FURTHER DEVELOPMENT OF THE EDUCATION SECTOR g Introduction policy objectives of this program focused on upgrading teacher qualifications, upgrading Jordan is currently embarking upon an ambitious curricula and textbooks, and expansion and Public Disclosure Authorized program of social and economic reform with enhancement of school facilities. During the human resources development at its center. The intervening period, significant progress has been following notes outline the core strategic issues, made towards the achievement of these goals. which are being addressed at the respective levels While other policy objectives can be implied from of the education sys tem for their achievement. government directives, programming initiatives or other fora, an explicit policy framework for basic education addressing objectives such as access, g Basic Education equity, relevance, efficiency, financing, etc., is The Jordan “Accelerated Social and Economic currently not in place. The absence of this Development Plan” recognizes education as a framework presents challenges at all levels of the cornerstone of development and the principal system in terms of prioritizing inves tments, means of improving the welfare of its citizens. establishing program goals, and implementing effective monitoring and evaluation systems. Public Disclosure Authorized With the guiding purpose of basic education to produce a literate and numerate population, and Formulation of a policy framework reflective of current priorities is seen to be an important also to lay the foundation for further education, strategic objective. It is understood that a high the primary and secondary educ ation systems need to undergo continuous adaptation to the level policy forum on basic education involving international participation is planned for the near changing characteristics of the wider society. -
Crane Bank to Appeal to Supreme Court
Plot 37/43 Kampala Road, P.O. Box 7120 Kampala Cable Address: UGABANK, Telex: 61069/61244 General Lines: (+256-414) 258441/6, 258061/6, 0312-392000 or 0417-302000. Fax: (+256-414) 233818 Website: www.bou.or.ug E-mail: [email protected] CRANE BANK TO APPEAL TO SUPREME COURT KAMPALA – 30 June 2020 – Bank of Uganda (BoU) wishes to inform the public of its decision to appeal the Court of Appeal’s dismissal of the case filed by Crane Bank Limited (in Receivership) vs. Sudhir Ruparelia and Meera Investments Limited to the Supreme Court. In exercise of its powers under sections 87(3), 88(1)(a)&(b) of the Financial Institutions Act, 2004, BoU placed Crane Bank Ltd (In Receivership) [“Crane Bank”] under Statutory Management on 20th October 2016. This decision was necessary upon discovering that Crane Bank had significant and increasing liquidity problems that could not be resolved without the Central Bank’s intervention given that Crane Bank had failed to obtain credit from anywhere else. An inventory by external auditors found that the assets of Crane Bank were significantly less than its liabilities. In order to protect the financial system and prevent loss to the depositors of Crane Bank, Bank of Uganda had to spend public funds to pay Crane Bank’s depositors. A subsequent forensic investigation as to why Crane Bank became insolvent found a number of wrongful and irregular activities linked to Sudhir Ruparelia and Meera Investments Ltd. These findings form the basis of the claims in the lawsuit by Crane Bank. The suit was necessary for recovery of the taxpayers’ money used to pay depositors’ funds as well as the other liabilities of Crane Bank. -
Doing Business in Georgia: 2015 Country Commercial Guide for U.S
Doing Business in Georgia: 2015 Country Commercial Guide for U.S. Companies INTERNATIONAL COPYRIGHT, U.S. & FOREIGN COMMERCIAL SERVICE AND U.S. DEPARTMENT OF STATE, 2010. ALL RIGHTS RESERVED OUTSIDE OF THE UNITED STATES. • Chapter 1: Doing Business In Georgia • Chapter 2: Political and Economic Environment • Chapter 3: Selling U.S. Products and Services • Chapter 4: Leading Sectors for U.S. Export and Investment • Chapter 5: Trade Regulations, Customs and Standards • Chapter 6: Investment Climate • Chapter 7: Trade and Project Financing • Chapter 8: Business Travel • Chapter 9: Contacts, Market Research and Trade Events • Chapter 10: Guide to Our Services Chapter 1: Doing Business in Georgia • Market Overview • Market Challenges • Market Opportunities • Market Entry Strategy Market Overview Return to top Market Overview Georgia is a small transitional market economy of 3.7 million people with a per capita GDP of $3,681 (2014). Georgia is located at the crossroads between Europe and Central Asia and has experienced economic growth over the past twelve years. In June 2014, Georgia signed an Association Agreement (AA) and Deep and Comprehensive Free Trade Area (DCFTA) with the European Union. Through reduced tariffs and the removal of technical barriers to entry, the DCFTA gives Georgian products access to over 500 million people in the EU. Reciprocally, products from the EU now enjoy easier access to the Georgian market. Following the launch of the U.S.-Georgia Strategic Partnership Commission (SPC) in 2009, the U.S. Department of State holds regular meetings with its Georgian counterparts across various working groups. One of these dialogues is the Economic, Energy, and Trade Working Group which aims to coordinate Georgia’s strategy for development in these areas and to explore ways to expand bilateral economic cooperation. -
ESG Factors Are Increasingly Influencing Banks in Russia and Neighboring Countries ESG Factors Are Increasingly Influencing Bank
ESG Factors Are Increasingly Influencing Banks In Russia And Neighboring Countries May 17, 2021 PRIMARY CREDIT ANALYSTS Key Takeaways Ekaterina Marushkevich, CFA Moscow - Banking regulation and the market environment in many countries are becoming + 7 49 5783 4135 increasingly demanding in terms of environmental, social, and governance (ESG) factors. ekaterina.marushkevich @spglobal.com In Russia, the Commonwealth of Independent States (CIS), Ukraine, and Georgia, ESG-related banking regulation will evolve in the next few years, providing business Sergey Voronenko opportunities but also new regulatory requirements and additional costs for banks. Moscow + 7 49 5783 4003 - The influence of ESG on banks in the region will increase. The most immediate impact sergey.voronenko will stem from governance factors, in our view, since they have historically constrained @spglobal.com our ratings on several banks in the region. Emmanuel F Volland Paris - We also expect the impact of environmental factors on banks' asset quality to increase + 33 14 420 6696 over time, given the high exposure of some regional economies to carbon-intensive emmanuel.volland sectors. @spglobal.com Lai Ly - Customer relations and workforce management, in our view, will increasingly affect Paris banks' ability to build successful business models. + 33140752597 lai.ly @spglobal.com SECONDARY CONTACT Boris Kopeykin Moscow Regulatory And Market Environment For Banks Globally Is Becoming + 7 49 5783 4062 boris.kopeykin Increasingly Demanding In Terms Of ESG @spglobal.com The importance of ESG factors for banks' strategies has been increasing over the past decade. Financial regulators in many countries are developing ESG-related regulations, recognizing banks' role as key providers of financial resources to the economy.