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Home » Banking System » IMF Assessments |
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INTERNATIONAL MONETARY FUND ASSESSMENT OF VANUATU’S FINANCIAL SECTOR In
2002, the Government of the Republic of Vanuatu and the Reserve Bank of
Vanuatu invited the International Monetary Fund (IMF) to carry out an
assessment of the extent to which the regulatory and supervisory arrangements
for the financial sector complied with certain internationally accepted
standards and measures of good practice. The assessment took place in
May 2002, and included not only the offshore sector, but also the domestic
banking and insurance sectors. The assessment also reviewed the prudential
aspects of measures to combat money laundering.
The Report, which has been reviewed by Government agencies involved in supervision and anti-money laundering, has been presented to the Government for consideration. On 24 April 2003, the Council of Ministers endorsed the main findings of the Report and agreed to its publication. The Report identified a number of areas that require consideration by authorities in Vanuatu, and where appropriate recommends the implementation of actions to ensure that supervisory and anti-money laundering standards in Vanuatu are consistent with international expectations and standards. The Report will provide invaluable guidance to the Government and the Reserve Bank of Vanuatu and the Vanuatu Financial Services Commission in their efforts to strengthen the supervisory frameworks in Vanuatu.
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Copyright
© July 2003 - Reserve Bank of Vanuatu - All Rights Reserved - Last
Updated
October 22, 2008 13:58
(GMT + 11) |
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