Objectives:
The overall objective of the Cluster TA was to strengthen the financial system by promoting good governances in banking supervision and insurance regulation and encouraging financial competition via developing a more efficient non-bank financial sector. The Cluster TA intended to cover three components namely (i) institutional capacity building (ii) strengthening banking supervision and insurance regulation functions of RMA and (iii) strengthening the legal and regulatory framework for the financial sector
Services:
Drafted sectoral analysis, program framework, environmental analysis, project design, and Terms of Reference for the establishment of the Credit Information Bureau. The components were as follows:
Component 1: Regulatory and Legal:
- Developed a monitoring system for the FISD to ensure satisfactory bank transparency
- Provision of technical training to FISD and other divisions in RMA
- Examination of guidelines and regulation in insurance operations
- Assisted in the drafting of regulations for Insurance and Financial Services Acts
Component 2: Strategy to Develop the Financial Sector:
- Conducted a financial sector assessment
- Developed a strategy for promoting new financial products justified by the assessment
- Developed a strategy to promote greater interest and activity in domestic securities/capital markets
Component 3: Training and development:
- Provided technical training
- Developed an investment and marketing strategy to restructure RICB’s asset base
- Identified and developed a suitable MIS for RICB
Timeframe: February 2006 - November 2006
Realated Countries: Bhutan
Client(s): ADB
Categories: Legal and Regulatory/ Business Plan Development, PFM and Financial Management and Audit and Accounting, Project design and Preparation and Feasibility Study
