The development objective of the Development Finance Project for Nigeria is to increase the availability and access to finance for micro, small, and medium enterprises (MSMEs) through eligible financial intermediaries with the support of a new wholesale development finance institution.
... See More + Some of the negative impacts and mitigation measures include: (i) activities involving the risk of work performed by children;(ii) activities involving land acquisition and or restrictions on land use resulting in involuntary resettlement or economic displacement; (iii) industrial-scale activities in or near critical habitats; (iv) industrial-scale activities involving production,harvesting, or trade in wood or other forestry products from plantation and natural forests or wild fish and other aquatic species; (v) industrial-scale production trade, storage, or transport of significant volumes of hazardous chemicals or commercial scale usage of hazardous chemicals; (vi) production or activities that have adverse impacts, including relocation, on the lands, natural resources, or critical cultural heritage that are used as livelihoods by vulnerable and or historically underserved traditional local communities; and (vii) activities involving significant adverse impacts on critical cultural heritage.
See Less -
This paper provides practical guidance to central banks on accounting practices for their foreign reserves, in connection with the transition from International Accounting Standard 39 Financial Instruments: Recognition and Measurement (IAS 39) to International Financial Reporting Standard 9 Financial Instruments (IFRS 9).
... See More + The IFRS 9 preparation process can be summarized in three steps: (1) business model assessment and cash flow characteristic test for classification, (2) impairment, and (3) transition and disclosure preparation. Relative to IAS 39, IFRS 9 is more principles-based, which requires substantive management judgment, such as defining the business model, assessing significance and impracticability in applying exceptions, and determining expected credit loss methodologies. This paper focuses on step 3, transition and disclosure preparation, with an overview of the IFRS 9 transition requirements. A case illustration of a central bank making the transition demonstrates how the process is likely to impact a central bank’s foreign reserve portfolio.
See Less -
This is a statement by Mr. Ignazio Visco, Governor of the Bank of Italy at the ninety-fifth meeting of the Development Committee held on April 22, 2017.
... See More + He discusses on: a changing development finance landscape; and a better and stronger World Bank Group for all.
See Less -
This is a statement by H.E. Hadizatou Rosine Coulibaly-Sori, Minister of State for Planning and Development at the ninety-fifth meeting of the Development Committee held on April 22, 2017.
... See More + He discusses on following: forward look: a vision for the World Bank Group (WBG) in 2030 - progress and challenges; the International Bank for Reconstruction and Development (IBRD) shareholding review progress report; and a stronger (WBG) for all.
See Less -
The objective of the Banking Sector Strengthening Project for Bosnia and Herzegovina is to improve the soundness of the banking sector by enhancing bank regulation, supervision and resolution capacity and by enhancing the governance of the Entity development banks.
... See More + There are five components to the project, the first component being strengthening regulation and supervision aligned with the third Basel regime, tailored to the level of development of the banking sector. This component focuses on strengthening banking sector regulation and supervision aligned with the third Basel regime, tailored to the level of development of the banking sector. The second component is the addressing weaknesses in the banking sector. The third component is the operationalizing the new bank resolution framework. The project will support the authorities in implementation of the bank resolution framework as foreseen in the Banking Laws. The Disbursement Linked Indicators (DLIs) focus on preparation and adoption of a key set of bylaws and decisions related to bank recovery and resolution, establishment and operationalization of dedicated bank resolution units within Banking Agency of the Republika Srpska (BARS) and Federal Banking Agency (FBA), adoption of an internal assessment methodology for recovery plans and subsequent assessment of recovery plans to be submitted by all banks to FBA and BARS. The fourth component is the Improving governance and business model of entity development banks. This component supports strengthening of institutional, corporate governance, and supervisory arrangements of the entity development banks, and updating their strategies. Finally, the fifth component is the technical assistance. The selection of reform areas also takes into account gaps in assistance and areas already being supported by other development partners.
See Less -
This report contains the World Bank Group Boards' calendar for the period of March to May 2017, specifying the Boards' engagements, such as meetings and briefings.
... See More +See Less -
The paper provides evidence on the number and volume of financial transactions undertaken by agents (local businesses that double as more convenient, lower cost alternatives to formal branches) of the largest microfinance institution operating in the Democratic Republic of Congo.
... See More + More important than agents’ personal characteristics, transactions are higher in low-income, densely populated areas with high levels of commercial development. This finding suggests that the agent network has been best at supporting financial transactions among the urban poor. In addition, branding and effective liquidity management are strongly linked to agent activity.
See Less -
Policy Research Working Paper WPS7984 FEB 27, 2017
This newsletter includes the following headings: monthly highlights; special focus; key prospects group publications; recent World Bank working papers; and recent World Bank reports.
... See More +See Less -
This newsletter includes the following headings: taking stock; weekly insight: recent developments and outlook in low-income countries; and tabular data on major data releases; activity and inflation; trade and finance; financial markets; and commodity prices.
... See More +See Less -
This newsletter includes the following headings: taking stock; weekly insight: recent developments and outlook in low-income countries; and tabular data on major data releases; activity and inflation; trade and finance; financial markets; and commodity prices.
... See More +See Less -
This newsletter includes the following headings: monthly highlights; special focus; key prospects group publications; recent World Bank working papers; and recent World Bank reports
... See More +See Less -
The purpose of this questionnaire is to gain an understanding of the financial reporting requirements for the banks in a jurisdiction in addition to or instead of the requirements for commercial enterprises in general.
... See More + The term bank in this assessment is used to refer to institutions authorized to receive deposits and to lend money as defined by the legal framework in the jurisdiction. There are also questions in relation to the monitoring and enforcement capacity of the local banking supervisor in respect of financial reporting of banks specifically. Questions are based on the internationally-recognized core principles for effective banking supervision issued by the Basel Committee on banking supervision, in particular Principle 27 Financial reporting and external audit. The questionnaire is structured as follows: overview of the banking sector; financial reporting requirements for Banks; statutory audit and other forms of independent assurance; audit committees; filing and publication of financial statements; monitoring and enforcement: financial reporting; and corporate governance.
See Less -
Small and medium enterprises (SMEs) are now widely recognized as engines of economic growth and key contributors to sustainable gross domestic product (GDP) of all countries, including those in the Middle East and North Africa (MENA) region.
... See More + International Finance Corporation’s (IFC’s) Financial Institutions Group (FIG) in MENA provides investment and advisory services to the region’s banks and other financial institutions to build their capacity in SME banking so that they can profitably and sustainably reach out to the SME sector. IFC commissioned a study in nine countries of the MENA region, which includes Pakistan, to better understand the demand and supply for Islamic banking products (both asset and liability products and other banking services) in the SME sector. The countries chosen for this study are: (1) Iraq, (2) Pakistan, (3) Yemen, (4) Kingdom of Saudi Arabia, (5) Egypt, (6) Lebanon, (7) Morocco, (8) Tunisia, and (9) Jordan. The scope of the study was to: (i) identify the countries in the MENA region facing gaps in financing and banking needs of SMEs in the Islamic products space; (ii) conduct a supply side benchmarking to review current capacity of financial institutions to offer Islamic products to this sector; (iii) conduct a demand side benchmarking to identify key SME customer needs for Islamic products and see how well they are currently being served; and (iv) review the current enabling environment and readiness levels of banks in terms of the regulatory framework and Shariah compliance. This regional executive summary provides a comparative analysis of the SME potential across these countries and the opportunities available to Islamic institutions to tap this potential. The nine individual country reports provide a deeper insight into the SME landscape and potential opportunities for Islamic banks in each country. The reports also highlight the measures that banks may need to take to successfully target the Islamic banking potential of SMEs.
See Less -
In recent years, banks in Pakistan and the Middle East and North Africa (MENA) region have become increasingly interested in targeting the small and medium enterprise (SME) sector and have realized that many small businesses demand Shariah-compliant banking.
... See More + To provide clarity on the subject, International Finance Corporation (IFC) commissioned a study to better understand the demand and supply for Islamic banking products (both asset and liability products as well as other banking services) in the SME sector in Pakistan. This report on Pakistan reveals a new to bank Islamic funding and depository opportunity, primarily due to un-served and underserved SMEs (approximately 20 percent to 25 percent), who do not borrow from conventional banks due to religious reasons. In order to reach out to SMEs demanding Islamic products, and as part of IFC’s initiative to enhance its SME investment and advisory services offerings to Islamic financial institutions, one needed to better understand the market from both the demand and supply sides in order to identify any gaps or niches where IFC can assist and add value. IFC commissioned a study in nine countries of the MENA region, which includes Pakistan, to better understand the demand and supply for Islamic banking products (both asset and liability products and other banking services) in the SME sector. The countries chosen for this study are: (1) Iraq, (2) Pakistan, (3) Yemen, (4) Kingdom of Saudi Arabia, (5) Egypt, (6) Lebanon, (7) Morocco, (8) Tunisia, and (9) Jordan. This regional executive summary provides a comparative analysis of the SME potential across these countries and the opportunities available to Islamic institutions to tap this potential. The nine individual country reports provide a deeper insight into the SME landscape and potential opportunities for Islamic banks in each country. The reports also highlight the measures that banks may need to take to successfully target the Islamic banking potential of SMEs.
See Less -
The 2007 financial crisis has exposed major weaknesses in global financial systems, including the threat to financial stability posed by banks that were too big, interconnected and complex to be closed or go bankrupt.
... See More + As a result, many banks have been rescued using public support, allowing for an uninterrupted provision of their services, but effectively shifting (most) of their losses to taxpayers instead of banks’ owners or investors. The political realities following the bail-out of banks called for game-changing regulation to reduce both the likelihood and the impact of failure.The Banking Recovery and Resolution Directive (BRRD) became one of the most important building blocks of the Banking Union. The BRRD is the outcome of a long negotiation process. The new bank recovery and resolution framework has wide reaching implications, both within the EU but also for countries with banking relationships with the EU. This Guidebook aims to explain the scope, the principles, and the rationale of the BRRD and related secondary legislation and guidance. Expert contributors, including lawyers and academics, share in this Guidebook their experience of and insights to the BRRD negotiation process, recovery and resolution planning, adoption of resolution decisions and the negotiation of bail-in. The Guidebook also raises awareness of discretionary or non-regulated areas and provides some initial thoughts for further development and possible implementation challenges. These challenges include but are not limited to the management of potential conflict of interests, the application of the public interest test, the choice of resolution tools, and the interaction between cross-border regulations. The Guidebook, together with the accompanying case studies, should help FinSAC client countries understand the resolution process and identify the impact that the BRRD will have on their own financial systems.
See Less -
Working Paper 112266 DEC 12, 2016
Lintner,Pamela; Lincoln,Marie Anne Johanna; Pyziak,Piotr; Godwin,Andrew John; Schroeder,Susan Caroline; Irsalieva,NurgulDisclosed
This newsletter includes the following headings: monthly highlights; special focus; key prospects group publications; recent World Bank working papers; and recent World Bank reports.
... See More +See Less -
