DOCSLIB.ORG

List of Participants

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
List of Participants LIST OF PARTICIPANTS AFGHANISTAN BULGARIA Mr. Naib Khan Jamal Mrs. Assia Mihailova Director General of Monetary Policy Dept. Director, Off-site Supervision Da Afghanistan Bank Bulgarian National Bank Ibni-e-Sina Watt, DAB, MPD 1, Knyaz Alexander 1 Sq. Kabul 1001 Sofia 1000 AFGHANISTAN BULGARIA ALBANIA CANADA Mrs. Enkeleda Kerxhaliu Ms. Theresa Hinz Head of Methodology Office Managing Director Supervision Department Legislative Policy, Interpretations & Compliance Bank of Albania Office of the Superintendent of Mihal Duri, No.32/8 Financial Institutions Tirana 1001 255 Albert Street ALBANIA Ottawa K1A 0H2 CANADA BANGLADESH Mr. MD Islam Ms. Angie Radiskovic General Manager Senior Director/Non-Financial Risk Department of Off-site Supervision Office of the Superintendent of Bangladesh Bank Financial Institutions 1352 Nurpur, South Dania 121 King St W. 19th fl Dhaka 1232 Toronto M5H 3T9 BANGLADESH CANADA BARBADOS CROATIA Mrs. Shari Lorde Richards Mr. Marko Tokić Deputy Director (Ag.) Director Prudential Regulation and Central Bank of Barbados Crisis Management Dept. Spry Street Croatian National Bank St. Michael, BB11126 Trg hrvatskih velikana 3 BARBADOS Zagreb 10000 CROATIA Page | 1 LIST OF PARTICIPANTS CROATIA GRENADA Mrs. Ivana Jolić Mr. Niguel Streete Advisor, Bank Regulation and Managing Director Crisis Management Dept. Turks and Caicos Islands Croatian National Bank Financial Services Commission Trg hrvatskih velikana 3 Marrast Hill, P.O. Box 447 Zagreb 10000 St Georges CROATIA GRENADA ERITREA HONDURAS Mr. Berhane Ghebreslassie Mr. Marco Cerrato Managing Director Intendente de Supervisión de Bancos Supervision Department National Banking and Insurance Commision Bank of Eritrea Edificio Santa Fé, Colonia Castaño sur, Paseo Nakfa Street No.175, P.O.Box: 849 Virgilio Zelaya Rubí, Bloque "C" Asmara Tegucigalpa 504 ERITREA HONDURAS Mr. Yemane Kelit Mr. Daniel Gomez Santeli Senior Supervisor Risk Manager (Financial Supervision) Supervision Department National Banking and Insurance Commision Bank of Eritrea Edificio Santa Fé, Colonia Castaño sur, Paseo Nakfa Street No.175, P.O.Box: 849 Virgilio Zelaya Rubí, Bloque "C" Asmara Tegucigalpa 504 ERITREA HONDURAS GEORGIA INDIA Mr. Papuna Lezhava Mrs. Farhana Malick Deputy Governor Senior Supervisory Manager National Bank of Georgia Department of Banking Supervision 2 Sanapiro Street Reserve Bank of India Tbilisi 0114 World Trade Centre, Cuffe Parade GEORGIA Mumbai 40005 INDIA Ms. Teona Kontridze JAMAICA Head, Supervisory Policy Department Ms. Sheriffa Monroe National Bank of Georgia Actg. Assistant Director, Policy & Methods 2 Sanapiro Street Bank of Jamaica Tbilisi 0114 Nethersole Place GEORGIA Kingston JAMAICA Page | 2 LIST OF PARTICIPANTS JAMAICA LAOS Mrs. Bridgette McKenzie Mr. Souksavath Chanthalavong Examiner-in-Charge Deputy Chief of Licensing Division Bank of Jamaica Bank Supervision Department Nethersole Place Bank of the Lao PDR Kingston Yonnet Road JAMAICA Chanthabouly 5124 LAOS KUWAIT LEBANON Mr. Zaid Alrukhayyes Mr. Houssam Faraj Acting Deputy Manager Senior Manager Off-Site Supervision Department Banking Control Commission of Lebanon Supervision & Policies Affairs Masraf Loubnan Street Central Bank of Kuwait Banque Du Liban Bldg. 1st Floor Safat Beirut 1-5544 Kuwait City LEBANON KUWAIT KYRGYZSTAN MACAU Ms. Zhyldyz Sulaimanbekova Ms. Vai Kuan Pun Head, Banking supervision Deputy Director Methodology and Licensing Department Banking Supervision Department The National bank of the Kyrgyz Repulic Monetary Authority of Macao 168 Chuy Avenue Calcada do Gaio, Nos 24 e 26 Bishkek 720001 MACAU KYRGYZSTAN Ms. Gulzara Markaeva MALAWI Senior inspector, Banks Supervision Dr. Grant Kabango Methodology and Licensing Department Deputy Governor National bank of the Kyrgyz Republic Economics and Regulation 168 Chuy Avenue Reserve Bank of Malawi Bishkek 720001 Convention Drive, P. O. Box 30063 KYRGYZSTAN Lilongwe MALAWI Page | 3 LIST OF PARTICIPANTS MAURITIUS NETHERLANDS ANTILLES Mrs. Hemlata Nundoochan Ms. Rosa-Marie van Ginkel Chief, Supervision Department Senior Policy Officer Prudential Supervision Bank of Mauritius Centrale Bank van Aruba Sir William Newton Steet J.E. Irausquin Boulevard 8 Port Louis 11602 Oranjestad MAURITIUS NETHERLANDS ANTILLES MEXICO NIGERIA Ms. Jacqueline Paulette Martinez Marx Mrs. Ruth Adebukola Olusina Off-Site Supervision Deputy Manager Deputy Director Supervision Department Banking Supervision Department Banco de Mexico Central Bank from Nigeria Av. Cinco de Mayo 1 Custom Street, Lagos Island Mexico City 06000 Lagos MEXICO NIGERIA MICRONESIA PAKISTAN Mr. Jesse Giltamag Mr. Muhammad Imran Banking Commissioner/CEO Sr. Joint Director, Banking Inspection Dept. FSM Banking Commission/Board State Bank of Pakistan P.O. Box 1887, Townplaza Bldg, #3&4 I.I. Chundrigar Road Kolonia, Pohnpei, 96941 Karachi 74000 MICRONESIA PAKISTAN Mr. Alexander Narruhn Mr. Muhammad Akhtar Javed Chairman, FSM Banking Board/Commission Director Banking Policy & Regulations Dept. Government of Federated States of Micronesia State Bank of Pakistan FSM Banking Commission/Board I.I. Chundrigar Road P.O. Box 1887, Townplaza Bldg, #3&4 Karachi 74000 Pohnpei, FM 96941 PAKISTAN MICRONESIA MOLDOVA PANAMA Mrs. Maia Pircalab Mr. Gustavo Adolfo Villa Lopez Deputy Director Department of Secretary General, General Secretiat Regulation and Authorization Superintendency of Banks of Panama National Bank of Moldova Avenida Samuel Lewis, Obarrio 1 Grigore Vieru Avenue Panama Chisinau MD-2005 PANAMA MOLDOVA Page | 4 LIST OF PARTICIPANTS PERU SAUDI ARABIA Mrs. Patricia Salas Mr. Abdullah Abaalkhail Assistant Superintendent for Banking Head of Banking Supervision Framework Section Superintendency of Banking, Insurance and Saudi Arabian Monetary Authority Private Pension Fund Administrators of Peru 2828 Asim Ibn Qays Los Laureles 214, San Isidro Riyadh 11554 Lima 27 SAUDI ARABIA PERU SLOVAKIA ROMANIA Mrs. Tatiana Dubinova Mrs. Iuliana Marinescu General Director Head of Division, Supervision Department Banking & Payment Services Supervision Dept. National Bank of Romania National Bank of Slovakia Aleea Postavarul no.4, Bl C4, Sc 5 Imricha Karvasa 1 Bucharest 032428 Bratislava 81325 ROMANIA SLOVAKIA RWANDA SOUTH AFRICA Ms. Peace Masozera Uwase Mr. Johan Neethling Girector General, Financial Stability Divisional Head, Financial Conglomerate National Bank of Rwanda Supervision - Prudential Authority P.O. Box 531 South African Reserve Bank Kigali 370 Helen Joseph Street RWANDA Pretoria 0002 SOUTH AFRICA SAINT KITTS AND NEVIS Mr. Schwabach Caines Mr. Pierre Nkou Mananga Senior Examiner, Bank Supervision Divisional Head, Prudential Authority Eastern Caribbean Central Bank Asset and Liability Management P.O. Box 89 South African Reserve Bank Basseterre 370 Helen Joseph Street SAINT KITTS AND NEVIS Pretoria 0002 SOUTH AFRICA SAN MARINO Mr. Giuliano Battistini Mrs. Delarese Van der Merwe Head of Off Site Supervision and Manager Banking Supervision - Member of the Supervisory Committee Prudential Authority Central Bank of San Marino (CBSM) South African Reserve Bank Via del Voltone 120 370 Helen Joseph Street Città di San Marino 47895 Pretoria 0002 SAN MARINO SOUTH AFRICA Page | 5 LIST OF PARTICIPANTS TAJIKISTAN Mr. Nurmuhammad Sharipov Director of Banking Supervision Department National Bank of Tajikistan Vozeh st Dushanbe 735030 TAJIKISTAN UKRAINE Mr. Volodymyr Sukhanov Head of State-Owned Supervision Div. Banking Supervision Department National Bank of Ukraine 9, Instytutska str. Kyiv 01601 UKRAINE Page | 6 .
Load more

Recommended publications
  • Reserve Bank of Malawi Reserve Bank of Malawi Reserve Bank of Malawi Reserve Reserve Bank of Malawi Reserve Bank Of
    Report and Accounts 2010 RBM Reserve Bank of Malawi Reserve Bank of Malawi Reserve Bank of Malawi Reserve Reserve Bank of Malawi Reserve Bank of RESERVE BANK OF MALAWI REPORT AND ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2010 2 Report and Accounts RBM RESERVE BANK OF MALAWI REPORT AND ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2010 3 Report and Accounts 2010 RBM BOARD OF DIRECTORS Dr. Perks M. Ligoya Governor & Chairman of the Board Mrs Mary C. Nkosi Deputy Governor Mrs. Betty Mahuka Mr. Gautoni Kainja Mr. Joseph Mwanamveka Board Member Board Member Board Member Dr. Patrick Kambewa 4 Board Member Mr. Ted. Sitimawina Board Member Report and Accounts RBM MISSION STATEMENT As the central Bank of the Republic of Malawi, we are committed to promoting monetary stability and soundness of the financial system. In pursuing these goals, we shall endeavour to carry out our duties professionally and exclusively in the long-term interest of the national economy. To achieve this, we shall be a team of professionals dedicated to international standards in the delivery of our services. 5 Report and Accounts 2010 RBM EXECUTIVE MANAGEMENT Dr. Perks M. Ligoya Governor Mrs. Mary C. Nkosi Deputy Governor Dr. Grant P. Kabango Acting General Manager, Economic Services 6 Report and Accounts RBM 7 Report and Accounts 2010 RBM HEADS OF DEPARTMENTS Banda, L. (Ms) Director, Banking and Payment Systems Chitsonga, D Director, Information and Communication Technology Chokhotho, R. Director, Human Resources Goneka, E. Director, Research and Statistics Kabango G.P. (Dr) Director, Special Duties Kajiyanike, M. (Ms) Director, Currency Management Malitoni, S.
    [Show full text]
  • 1 Executive Summary Mauritius Is an Upper Middle-Income Island Nation
    Executive Summary Mauritius is an upper middle-income island nation of 1.2 million people and one of the most competitive, stable, and successful economies in Africa, with a Gross Domestic Product (GDP) of USD 11.9 billion and per capita GDP of over USD 9,000. Mauritius’ small land area of only 2,040 square kilometers understates its importance to the Indian Ocean region as it controls an Exclusive Economic Zone of more than 2 million square kilometers, one of the largest in the world. Emerging from the British colonial period in 1968 with a monoculture economy based on sugar production, Mauritius has since successfully diversified its economy into manufacturing and services, with a vibrant export sector focused on textiles, apparel, and jewelry as well as a growing, modern, and well-regulated offshore financial sector. Recently, the government of Mauritius has focused its attention on opportunities in three areas: serving as a platform for investment into Africa, moving the country towards renewable sources of energy, and developing economic activity related to the country’s vast oceanic resources. Mauritius actively seeks investment and seeks to service investment in the region, having signed more than forty Double Taxation Avoidance Agreements and maintaining a legal and regulatory framework that keeps Mauritius highly-ranked on “ease of doing business” and good governance indices. 1. Openness To, and Restrictions Upon, Foreign Investment Attitude Toward FDI Mauritius actively seeks and prides itself on being open to foreign investment. According to the World Bank report “Investing Across Borders,” Mauritius has one of the world’s most open economies to foreign ownership and is one of the highest recipients of FDI per capita.
    [Show full text]
  • 28Q3FY1395.Pdf
    I II III ,EQH6LQD :DWW .DEXO $IJKDQLVWDQ 7HOHSKRQH ,QWHUQHW ZZZGDEJRYDI (PDLO PS#GDEJRYDI $OO ULJKWV UHVHUYHG 5LJKWV DQG SHUPLVVLRQV 7KH PDWHULDO LQ WKLV SXEOLFDWLRQ LV FRS\ULJKWHG EXW PD\ EH IUHHO\ TXRWHG DQG UHSULQWHG $FNQRZOHGJHPHQWLVUHTXHVWHGWRJHWKHUZLWKDFRS\RIWKHSXEOLFDWLRQ 1RWH $IJKDQLVWDQಬV)LVFDO\HDUKDVEHHQFKDQJHGHIIHFWLYHIURP 7KHQHZILVFDO\HDUEHJLQVRQ 'HFHPEHUHDFK\HDU7KLV4XDUWHUO\%XOOHWLQDQDO\]HVGHYHORSPHQWVLQWKHVHFRQGTXDUWHURIILVFDO \HDUZKLFKFRYHUV-XQHVWWR6HSWHPEHUVW IV CONTENTS EXECUTIVE SUMMARY ............................................................................................................................ XIV GLOBAL ECONOMIC ENVIRONMENT ..................................................................................................... 18 I. ADVANCED ECONOMIES ........................................................................................................ 18 1.1.1 The United States Economy ......................................................................................... 18 1.1.2 The Economy of United Kingdom ................................................................................ 20 1.1.3 The Economy of Germany ............................................................................................ 21 1.1.4 The Economy of France ................................................................................................ 21 1.1.5 The Economy of Japan .................................................................................................. 22 II. EMERGING MARKET ECONOMIES
    [Show full text]
  • 1382 Annual Financial Statements Da Afghanistan Bank
    1382 ANNUAL FINANCIAL STATEMENTS DA AFGHANISTAN BANK In accordance with Article 106 of the Law on Da Afghanistan Bank, Da Afghanistan Bank hereby presents the financial statements for the year ended 29 Hoot 1382 (19 March 2004). These statements consist of the balance sheet, the income statement, and notes to the financial statements that include the legal framework, accounting policies, and notes to the accounts. The financial statements prepared by Da Afghanistan Bank are based on international accounting/financial reporting standards, modified as necessary to meet particular circumstances, and are attested to by the external auditors Messrs. P.B. Vijayaraghavan & Co., Chartered Accountants. Da Afghanistan Bank is responsible for the accuracy of the accounting information reflected in the financial statements. 1 DA AFGHANISTAN BANK Balance Sheet at 29 Hoot 1382 (Amounts in Afghanis) 1381 Notes 1382 ASSETS Domestic Currency Assets 63,852,849 Loans receivable 1 63,852,849 15,281,298,069 Government overdrafts 2 14,732,228,069 50,354,247 Advances receivable 82,994,680 4,872,083 Equity investments 3 4,872,083 15,400,377,248 14,883,947,681 Foreign Currency Assets 12,420,895,234 Gold in Federal Reserve 4 14,352,958,418 230,015,148 Cash in foreign currency 5 2,186,712,015 11,323,488,450 Foreign bank accounts 6 24,344,303,034 23,974,398,832 Total reserve assets 40,883,973,467 25,164,468 Receivables in foreign currency 79,267,366 5,310,640 Equity investments in forex 7 5,310,640 1,402,874,216 Foreign currency loans to Govt.
    [Show full text]
  • R Basant Roi: Bank of Mauritius' New Headquarters
    R Basant Roi: Bank of Mauritius’ new headquarters Address by Mr R Basant Roi, Governor of the Bank of Mauritius, at the inauguration of the New Headquarters Building of the Bank of Mauritius, Port Louis, 18 December 2006. * * * Dr. The Hon. Navinchandra Ramgoolam, Prime Minister of the Republic of Mauritius Honourable Ramakrishna Sithanen, Deputy Prime Minister, Minister of Finance and Economic Development His Lordship Mayor of Port Louis Hon. Judges Members of the Diplomatic Corps Fellow Bankers Ladies and Gentlemen Good Afternoon I am pleased to welcome you all to the inauguration of the New Headquarters Building of the Bank of Mauritius. I am privileged and honoured to perform this inaugural ceremony in your distinguished presence, Prime Minister, Sir – a ceremony that is similar to the one performed by the first Governor of the Bank, Mr. Aunauth Beejadhur, for the existing building in the presence of His Excellency, Sir John Shaw Rennie, Governor of Mauritius and late Sir Seewoosagur Ramgoolam, then Premier and Minister of Finance on 31st May 1967. One of the major constraints in the operation of the Bank when it was established way back in 1967 was insufficient office space. The offices of the Bank were located at various places in Port Louis. Security vault for notes and coins was located at the back of the Treasury building, Exchange Control at the entrance of the present Government Centre and Main Office at the Anglo Mauritius Building. In August 1968, a banking office was opened at the Treasury Building to accommodate the increasing volume of banking business. The existing Bank of Mauritius building at the corner of Sir William Newton St and Royal Road was designed by Messrs Victor Heal and Partners of London.
    [Show full text]
  • International Directory of Deposit Insurers
    Federal Deposit Insurance Corporation International Directory of Deposit Insurers September 2015 A listing of addresses of deposit insurers, central banks and other entities involved in deposit insurance functions. Division of Insurance and Research Federal Deposit Insurance Corporation Washington, DC 20429 The FDIC wants to acknowledge the cooperation of all the countries listed, without which the directory’s compilation would not have been possible. Please direct any comments or corrections to: Donna Vogel Division of Insurance and Research, FDIC by phone +1 703 254 0937 or by e-mail [email protected] FDIC INTERNATIONAL DIRECTORY OF DEPOSIT INSURERS ■ SEPTEMBER 2015 2 Table of Contents AFGHANISTAN ......................................................................................................................................6 ALBANIA ...............................................................................................................................................6 ALGERIA ................................................................................................................................................6 ARGENTINA ..........................................................................................................................................6 ARMENIA ..............................................................................................................................................7 AUSTRALIA ............................................................................................................................................7
    [Show full text]
  • List of Certain Foreign Institutions Classified As Official for Purposes of Reporting on the Treasury International Capital (TIC) Forms
    NOT FOR PUBLICATION DEPARTMENT OF THE TREASURY JANUARY 2001 Revised Aug. 2002, May 2004, May 2005, May/July 2006, June 2007 List of Certain Foreign Institutions classified as Official for Purposes of Reporting on the Treasury International Capital (TIC) Forms The attached list of foreign institutions, which conform to the definition of foreign official institutions on the Treasury International Capital (TIC) Forms, supersedes all previous lists. The definition of foreign official institutions is: "FOREIGN OFFICIAL INSTITUTIONS (FOI) include the following: 1. Treasuries, including ministries of finance, or corresponding departments of national governments; central banks, including all departments thereof; stabilization funds, including official exchange control offices or other government exchange authorities; and diplomatic and consular establishments and other departments and agencies of national governments. 2. International and regional organizations. 3. Banks, corporations, or other agencies (including development banks and other institutions that are majority-owned by central governments) that are fiscal agents of national governments and perform activities similar to those of a treasury, central bank, stabilization fund, or exchange control authority." Although the attached list includes the major foreign official institutions which have come to the attention of the Federal Reserve Banks and the Department of the Treasury, it does not purport to be exhaustive. Whenever a question arises whether or not an institution should, in accordance with the instructions on the TIC forms, be classified as official, the Federal Reserve Bank with which you file reports should be consulted. It should be noted that the list does not in every case include all alternative names applying to the same institution.
    [Show full text]
  • Tax Relief Country: Italy Security: Intesa Sanpaolo S.P.A
    Important Notice The Depository Trust Company B #: 15497-21 Date: August 24, 2021 To: All Participants Category: Tax Relief, Distributions From: International Services Attention: Operations, Reorg & Dividend Managers, Partners & Cashiers Tax Relief Country: Italy Security: Intesa Sanpaolo S.p.A. CUSIPs: 46115HAU1 Subject: Record Date: 9/2/2021 Payable Date: 9/17/2021 CA Web Instruction Deadline: 9/16/2021 8:00 PM (E.T.) Participants can use DTC’s Corporate Actions Web (CA Web) service to certify all or a portion of their position entitled to the applicable withholding tax rate. Participants are urged to consult TaxInfo before certifying their instructions over CA Web. Important: Prior to certifying tax withholding instructions, participants are urged to read, understand and comply with the information in the Legal Conditions category found on TaxInfo over the CA Web. ***Please read this Important Notice fully to ensure that the self-certification document is sent to the agent by the indicated deadline*** Questions regarding this Important Notice may be directed to Acupay at +1 212-422-1222. Important Legal Information: The Depository Trust Company (“DTC”) does not represent or warrant the accuracy, adequacy, timeliness, completeness or fitness for any particular purpose of the information contained in this communication, which is based in part on information obtained from third parties and not independently verified by DTC and which is provided as is. The information contained in this communication is not intended to be a substitute for obtaining tax advice from an appropriate professional advisor. In providing this communication, DTC shall not be liable for (1) any loss resulting directly or indirectly from mistakes, errors, omissions, interruptions, delays or defects in such communication, unless caused directly by gross negligence or willful misconduct on the part of DTC, and (2) any special, consequential, exemplary, incidental or punitive damages.
    [Show full text]
  • ANNUAL REPORT MAUBANK Annual Report 2019 001 Table of Contents
    ANNUAL REPORT MAUBANK Annual Report 2019 001 Table of Contents 004 Corporate information 007 Chairman Statement 008 Chief Executive Statement 012 Directors’ report 021 Corporate governance report 035 Statement of compliance 037 Statement of management’s responsibility for financial reporting 038 Report from the secretary 039 Independent auditor’s report 043 Statements of financial position 045 Statements of profit or loss and other comprehensive income 047 Statements of changes in equity 049 Cash flow statements for the year ended 050 Notes to the financial statements 154 Management discussion and analysis 173 Administrative information CORPORATE INFORMATION MAUBANK 004 Annual Report 2019 Corporate Information DIRECTORS: Non-Executive Directors Appointed on Resigned on Mr Burkutoola Mahmadally (Chairman) 29 March 2019 Mr Lalloo Said (Chairman) 20 January 2016 01 October 2018 Dr Paligadu Dharamraj (was appointed Acting Chairman on 06 June 2018) 07 March 2015 06 August 2019 Mr Nicolas Jean Marie Cyril 13 March 2015 Mr Putchay Vassoo Allymootoo 20 January 2016 05 September 2019 Mr Gokhool Ashvin Jain 23 February 2016 Mr Nilamber Anoop Kumar 22 March 2016 Mr Codabux Muhammad Javed 10 March 2017 Executive Directors Mr Mungar Premchand 23 November 2018 Mr Nagarajan Sridhar 24 September 2015 21 September 2018 MAUBANK Annual Report 2019 005 KEY MANAGEMENT TEAM: Position Mr Mungar Premchand Chief Executive Officer (As from 23 November 2018) Mr Nagarajan Sridhar (As from 24 September 2015 to 21 September 2018) Chief Executive Officer Mr Vydelingum
    [Show full text]
  • 02399-9781451890549.Pdf
    WP/02/6 IMF Working Paper Financial Reforms and Interest Rate Spreads in the Commercial Banking System in Malawi Montfort Mlachila and Ephraim W. Chirwa INTERNATIONAL MONETARY FUND © 2002 International Monetary Fund WP/02/6 IMF Working Paper Policy Development and Review Department Financial Reforms and Interest Rate Spreads in the Commercial Banking System in Malawi Prepared by Montfort Mlachila and Ephraim W. Chirwa1 Authorized for distribution by Doris C. Ross 1anuary 2002 Abstract The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. This study investigates the impact of financial sector reforms on interest rate spreads in the commercial banking system in Malawi. The financial reform program commenced in 1989 when both the Reserve Bank Act and the Banking Act were revised with the easing of entry requirements into the banking system, and indirect monetary policy instruments were subsequently introduced in 1990. The adoption of a floating exchange rate in 1994 marked the end of major policy reforms in the Malawian financial sector. Using alternative definitions of spreads, our analysis shows that spreads increased significantly following liberalization, and panel regression results suggest that the observed high spreads can be attributed to high monopoly power, high reserve requirements, high central bank discount rate and high inflation. JEL Classification Numbers:E43; G21; L13 Keywords: Commercial banks; interest spreads; financial liberalization; Malawi Author's E-Mail Address: [email protected], [email protected] 1 Ephraim Chirwa is at the Department of Economics, Chancellor College, University of Malawi.
    [Show full text]
  • State Bank of Mauritius (Sbm) Holdings Limited Analysis: Is Investors Cash Safe with Sbm?
    STATE BANK OF MAURITIUS (SBM) HOLDINGS LIMITED ANALYSIS: IS INVESTORS CASH SAFE WITH SBM? January 2018 i List of Abbreviations: BOM – Bank of Mauritius CBK – Central bank of Kenya EOI – Expression of Interest KDIC – Kenya Deposit Insurance Corporation Kes – Kenya Shillings NAV – Net Assets Value SEMTRI - Stock Exchange of Mauritius Total Return Index SEM – Stock Exchange of Mauritius SBM – State bank of Mauritius ROE – Return on Equity USD – United States Dollar ii Table of Contents Executive Summary ........................................................ 1 Bank Overview.............................................................. 2 Ownership and Governance .............................................. 2 Corporate Governance .................................................... 3 SBM Stock Performance ................................................... 5 SBMH Acquisition of Fidelity Commercial Bank (Kenya) ............. 5 SBM Financial Performance ............................................... 6 SBM Holding Comparison with some selected Kenyan Banks ........ 9 SBM’s Binding Offer on Chase Bank ................................... 10 Chase Bank Acquisition Terms ......................................... 10 Fusion’s View on the terms of this deal .............................. 11 Fusion’s View on SBM Bank acquiring Chase Bank .................. 12 iii Executive Summary SBM Holdings ‘SBM’ was founded in 1973 by the Government of Mauritius and was listed in the Stock Exchange of Mauritius ‘SEM’ in 1995. The Bank is engaged in banking, non-banking
    [Show full text]
  • Download PDF (695.9
    - 33 - ANNEX References Balassone and Franco (2000), "Assessing Fiscal Sustainability: a Review of Methods with a View to EMU"; Banco d'ltalia Workshop on "Fiscal Sustainability", 2000; pp. 21-60 Chalk and Hemming (2000), "Assessing Fiscal Sustainability in Theory and Practice", IMF Working Paper (WP/00/81) published in Banco d'ltalia Workshop on "Fiscal Sustainability, 2002; pp. 61-93 International Monetary Fund (2002), "Assessing Sustainability", SM/02/166 (May 28, 2002) Melhado, Oscar (2003), "Fiscal Sustainability and Resource Mobilization in the Dominican Republic", IMF Working Paper (WP/03/19) World Bank (2002a), "Eritrea: Investment Climate Assessment" World Bank (2002b), "Eritrea: Revitalizing Eritrea's Development Strategy" ©International Monetary Fund. Not for Redistribution -34- IIT. MONETARY POLICY AND MANAGEMENT1 A. Introduction 1. Eritrea's central bank, the Bank of Eritrea (BE), was established by a temporary proclamation (No. 32/1993) following independence in 1993. Prior to the introduction of the national currency, the nakfa, in November 1997, Eritrea was in a de facto currency union with Ethiopia—using the Ethiopian birr as the legal tender. In March 1997, the Bank of Eritrea Proclamation (No. 93/1997, hereafter "the Proclamation") was enacted and superseded the temporary 1993 Proclamation.2 The Proclamation was intended to provide for an independent central bank, with expanded powers to issue a legal tender and conduct monetary policy with a broad set of instruments, as well as to license, regulate, and supervise financial institutions. 2. This section begins with a brief description of the financial sector and policy environment for the BE. It then undertakes an assessment of key aspects of the Proclamation and its implementation with respect to their implications for central bank independence, and discusses the main factors that have affected actual monetary management of the BE.
    [Show full text]