Other Financial Accountability Study

150 items available

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https://hdl.handle.net/10986/2186

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Enhancing Financial Capability and Inclusion in Zambia: A Demand-Side Assessment
(World Bank, Zambia, 2017-11) World Bank Group
Financial inclusion in Zambia has nearly doubled in the last ten years - from 21.3 percent in 2005 to 40.2 percent in 2016. This success was made possible by Zambia’s Financial Sector Development Plan that concluded in 2015. And yet, when compared to other lower-middle income countries, Zambia fares less favorably in terms of account ownership, accessibility of bank branches, and usage of financial services. Main cited barriers are lack of funds, high fees, time-consuming travel, and lack of trust in the financial sector. Zambia aims to achieve universal access and has committed to implementing comprehensive national strategies for financial inclusion and financial education to accelerate progress. The World Bank survey covered in this report was requested by Zambian authorities to inform their further strategy work, help formulate quantifiable and concrete targets, and assess the effectiveness of future financial capability enhancing programs. The key findings and recommendations of the report cover areas related to Financial Inclusion, Financial Capability, and Financial Consumer Protection, followed by four chapters. Chapter 1 explores the financial inclusion landscape in Zambia. Chapter 2 reviews financial capability of Zambians in terms of their financial knowledge, attitudes, and behaviors. Chapter 3 analyzes the link between financial inclusion and financial capability in Zambia, and Chapter 4 assesses whether the financial products in Zambia meet consumers’ needs.
Federal Democratic Republic of Ethiopia Diagnostic Review of Financial Consumer Protection
(World Bank, Washington, DC, 2017-04) World Bank Group
The objective of the Diagnostic Review of Financial Consumer Protection in Ethiopia is to assess the legal, regulatory, and institutional framework for financial consumer protection (FCP) and develop prioritized and tailored recommendations aimed at supporting the National Bank of Ethiopia (NBE) in developing and operationalizing improvements to that framework. The assessment is conducted under the Ethiopia Financial Inclusion Support Framework (FISF) Program, and based on the revised and enhanced 2017 Edition of the World Bank Good Practices for Financial Consumer Protection with focus on retail products and services in four sectors: i) banks and non-bank financial institutions (NBFIs); ii) payments; and iii) insurance. Further, the review covers five topics in each of the above-mentioned sectors: i) legal, regulatory, and supervisory framework; ii) disclosure and sales practices; iii) fair treatment and business conduct; iv) data privacy; and v) dispute resolution mechanisms. The report reflects the existing legal, regulatory, and institutional framework in Ethiopia, with references to planned reforms that were presented to or discussed with the World Bank team. It also features industry practices identified through interviews with financial services providers, financial regulators, and consumer and industry associations.
Republic of Ghana Diagnostic Review of Financial Consumer Protection
(World Bank, Washington, DC, 2016-06) World Bank Group
This diagnostic review was conducted with a purpose to inform future reform of the FCP framework in Ghana, and is based on the revised and enhanced World Bank Good Practices for Financial Consumer Protection (forthcoming). The content of this report is based on a review of the legal and regulatory framework, as well as in anecdotal evidence of current FCP issues and practices gathered through interviews with financial services providers, regulators, specialists, and through a review of available documents on this topic. The assessment focuses on retail products and services in four sectors: i) banks and NBFIs; given the large number of diverse institutions in the non-bank sector the references to NBFI sector in this report are primarily based on information gathered from rural and community banks, microfinance companies, savings and loans, credit unions, and leasing companies; ii) payments; and iii) insurance. Further, it covers five topics in each of the above-mentioned sectors, namely: i) legal, regulatory, and supervisory framework; ii) disclosure and sales practices; iii) fair treatment and business conduct; iv) data privacy; and v) dispute resolution mechanisms. While some sector-specific sections addressed issues related to data privacy, this topic was primarily addressed as cross-sectoral issue, discussed in section 2 below. Each of the sections contains recommendations for reform measures in Ghana, with indication of their priority. Significant emphasis has been put on building supervisory capacity for FCP, given its importance for effective implementation of the few existing regulations and additional regulatory reforms proposed in this report.
Mozambique Diagnostic Review of Consumer Protection and Financial Literacy: Volume 2. Comparison with Good Practices
(World Bank, Washington, DC, 2012-12) World Bank
The review provides a detailed assessment of the institutional policy and regulatory framework in two segments of the financial sector: banking and non-bank credit institutions. The mission took place in response to a specific request for technical assistance in the field of financial consumer protection made by the central bank, the Banco de Moçambique (BdM), in November 2011. As agreed with the BdM, the assessment has focused on bank and non-bank entities within Mozambique’s financial sector that provide financial products and services to consumers, including microfinance, with a particular focus on credit reporting and on financial awareness. Volume one summarizes the key findings and recommendations of the review and volume two presents a detailed assessment of each financial segment compared to the good practices. Volume two also includes annexes that analyze and provide more detailed recommendations on credit reporting and financial education, and a description of the overall legal and institutional frameworks for financial consumer protection in Mozambique. The key findings and recommendations presented in this report cover six areas: institutional arrangements, legal and regulatory framework, disclosure, business practices, dispute resolution mechanisms, and financial education.
Mozambique Diagnostic Review of Consumer Protection and Financial Literacy: Volume 1. Key Findings and Recommendations
(World Bank, Washington, DC, 2012-12) World Bank
The review provides a detailed assessment of the institutional policy and regulatory framework in two segments of the financial sector: banking and non-bank credit institutions. The mission took place in response to a specific request for technical assistance in the field of financial consumer protection made by the central bank, the Banco de Moçambique (BdM), in November 2011. As agreed with the BdM, the assessment has focused on bank and non-bank entities within Mozambique’s financial sector that provide financial products and services to consumers, including microfinance, with a particular focus on credit reporting and on financial awareness. Volume one summarizes the key findings and recommendations of the review and volume two presents a detailed assessment of each financial segment compared to the good practices. Volume two also includes annexes that analyze and provide more detailed recommendations on credit reporting and financial education, and a description of the overall legal and institutional frameworks for financial consumer protection in Mozambique. The key findings and recommendations presented in this report cover six areas: institutional arrangements, legal and regulatory framework, disclosure, business practices, dispute resolution mechanisms, and financial education.
Anti-Money Laundering and Combating the Financing of Terrorism : Mali
(GIABA and the World Bank, Washington, DC, 2008-09-18) World Bank
This assessment of the Anti-Money Laundering and Combating the Financing of Terrorism (AML-CFT) regime in Mali was conducted on the basis of the Forty Recommendations of 2003 and the Nine Special Recommendations on the financing of terrorism drawn up in 2003 and 2001, respectively, by the Financial Action Task Force (FATF), and on the AML-CFT Methodology of 2004. The assessment was based on the laws, regulations, and other materials supplied by community institutions (in particular the Central Bank of West African States (BCEAO), the Banking Commission of the West African Economic and Monetary Union (BC-WAEMU) and the Inter-ministerial Group for Action Against Money Laundering in West Africa (GIABA)) and by the national authorities of Mali, as well as the information gathered in the course of the country visit from February 4 to 14, 2008. During its visit, the assessment team met with the managers and representatives of all the relevant government agencies and the private sector. This report provides a summary of the AML/CFT measures in force in Mali as at the date of the on-site visit or immediately thereafter. It describes and analyzes those measures, and makes recommendations on how certain aspects of the system could be strengthened. It also sets out Mali's level of compliance with the FATF 40+9 Recommendations.
Anti-Money Laundering and Combating the Financing of Terrorism : Republic of Uganda
(Washington, DC, 2007-08) World Bank
This assessment of the anti-money laundering (AML) and combating the financing of terrorism (CFT) regime of Uganda was based on the 2003 Forty Recommendations on Money Laundering and the Nine Special Recommendations on Terrorist Financing of the Financial Action Task Force (FATF) (FATF 40+9), and was prepared using the AML/CFT Methodology of 2004. During the mission, the assessment team met with officials and representatives of relevant government agencies and the private sector. This report provides a summary of the AML/CFT measures in place in Uganda as of the date of completion of the on-site the mission, February 23. 2005. After describing and analyzing those measures, it provides recommendations on how certain aspects of the system could be strengthened. It also sets out Uganda s levels of compliance with the FATF 40+9 Recommendations.
Mauritius : From Preferences to Global Competitiveness, Report of the Aid for Trade Mission
(Washington, DC, 2006-04) World Bank
Mauritius is facing a sharp transition from dependence on trade preferences to open competition in the global economy. And it must do so in an unusually difficult environment. After 20 years of remarkable performance, the economy has fallen off a high growth plateau of about 6 percent toward the 2-3 percent range. The creation of new jobs is now too slow to prevent an increase in unemployment. Domestic investment has fallen, the external accounts have shifted from surplus into deficit by $300 million, and the country has sporadically lost reserves. This report, the first step in a process, outlines the trade competitiveness challenges facing Mauritius that, if confronted and managed, will pave the way to a return to a higher growth path. After the Government develops the specific actions in its program, the Bank will work with the government in costing the specific investments necessary to implement its program of trade competitiveness, and will help in mobilizing external support as part of the international community's effort put together a global program of aid for trade.