This paper provides an overview of different regulatory approaches to Fintech and provides guidance for policymakers to understand the benefits and limitations of each.
... See More + While some Fintech activities can often be covered within existing regulatory frameworks, the majority of jurisdictions are taking or planning to take additional regulatory measures to respond to emerging Fintech services, the scope and scale of which vary substantially including new laws, Innovation Offices, Regulatory Sandboxes and even reskilling to respond to transforming environment. The report provides context on the relative appropriateness of each approach within jurisdictions, including relevant variables for consideration, and uses country case studies where appropriate to showcase and enable policymakers to draw from lessons learned across the globe.
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Kenya has a positive economic outlook, achieving an average growth rate of 5-6 percent in recent years. Nonetheless, there has been an increase in the fiscal deficit (to 8.8 percent in 2016/17), partly due to domestic revenue shortfalls and spending pressures relating to a drought and Presidential elections.
... See More + As a result, Kenyan Authorities have committed to a number of corrective actions, including ways to broaden the tax base, including strengthening revenue performance at the county level. A new draft policy and County Revenue Bill (2018) therefore aim to broaden the County revenue base, to strengthen administrative capacity of counties to raise own revenues, and to provide a regulating framework for county imposition and variation of rates, in line with national tax policy and economic objectives. The Commission on Revenue Allocation also aims to strengthen incentives for counties to enhance own-source revenues through an OSR performance element in the central allocation formula. In order to inform the draft policy and reform of the CRA formula, a better understanding in needed of the potential revenues possible at county level and of the barriers or opportunities available to counties to achieve more of that potential in order to reap the benefits of devolution, to generate efficiencies from consolidation of local government structures and be able to better fulfil their mandates for decentralized service delivery through more sustainable financing. In some cases, investment in the administration of OSR might be needed in the infrastructure, equipment or staff administering the taxes, fees or charges, and therefore, having a better understanding of the revenue potential may help to identify whether such investments are worthwhile.
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The Institutional Development and Agriculture Strengthening Project of Montenegro had a satisfactory outcome. Bank performance was also satisfactory while M&E Quality was substantial.
... See More + The project development objective (PDO) was to improve delivery of government assistance for sustainable agriculture and rural development in a manner consistent with the EU’s pre-accession requirements. The project was restructured a total of three times. This extended the project closing date to September 30, 2019. As part of the December 2015 restructuring and additional grant financing, the PDO was broadened. Some recommendations and lessons learned during the project include: Strong partnerships between international organizations, donors and development partners can be forged under the strong leadership of the Government when there is a mutual understanding of complementary strengths and interests; Incremental and practice-based approaches to institutional capacity-building offer an efficient and effective route to the implementation of major policy changes; and The Montenegro Institutional Development and Agriculture Strengthening (MIDAS) project tested allowing over-contracting.
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Implementation Completion and Results Report ICR3258 MAR 26, 2020
The report presents following strategic objective to strengthen the credit reporting system in Eswatini: (i) strengthen the legal and regulatory framework; (ii) improve data quality; (iii) enhance supervisory oversight of the credit reporting system; (iv) increase usage of credit bureau services; (v) improve public understanding of and support for the credit reporting system; and (vi) promoting cross border sharing of data.
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This Annual Report marks the third year since the launch of the World Bank Group’s Identification for Development (ID4D) partnership platform and provides an opportunity to highlight the achievements of the past year and reflect on growing trends.
... See More + ID remains an important priority for the World Bank Group as they focus on the approximately one billion people around the world without any officially recognized ID, of whom half live in Africa. For women in low-income countries, closer to one in two do not have an ID. They are effectively invisible to providers of services and face a fundamental barrier to meaningful participation in their society and economy. ID4D is playing a leading role in addressing this challenge. As data and digital IDs become more widespread, the responsible use of technologies and managing threats to data protection become more critical. The World Bank is currently supporting more than forty countries to design and implement good digital ID and civil registration systems, often in collaboration with other development partners. The ID4D coalition of governments, partners and stakeholders is well-placed to succeed in their efforts and equip people with the tools they need to easily prove who they are. Together, we can achieve our goals of helping people become visible so they can participate in their society and their economy.
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This report provides the results of the assessment of the Public Procurement system of the Republic of Kazakhstan using the Methodology for Assessing Procurement Systems (MAPS)1 and its various steps, including the validation process.
... See More + Kazakhstan has a dual public procurement system, in which there are separate systems for a) the government procurement conducted by the general public administration and b) procurement conducted by Sovereign Wealth Fund Samruk-Kazyna, which accounts for the majority of public procurement spending. This MAPS assessment covers both. Due to the nature of the system, this MAPS assessment has to integrated parts and assessments of a) the government procurement system and b) of Samruk-Kazyna’s procurement system. This assessment report identifies key findings, lays out the strengths of the analyzed procurement systems and the remaining challenges, and provides a series of recommendations to address those challenges and allow for future improvement.
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