Albania: Export, Enterprise Development and Competitiveness

Bankworld developed the scope of work for a major project that will assist Albanian agriculture (including livestock products) to effectively respond to export market intelligence and serve niche markets within selected Free Trade Agreement (FTA) and other European countries.

Albania: Strategic Study

Bankworld conducted a study of USAID's six-year Country Strategy Plan (CSP) for Albania, covering economic/private sector development, democracy and health. We measured the overall progress and impact that has been made in the past; identified what works well and the major factors contributing to prior success; analyzed major obstacles being encountered; verified if the operating assumptions and development hypotheses for the CSP are still valid in light of the current as well as projected realities in Albania. We made recommendations and conducted a retreat/workshop.

Armenia: Technical Assistance to Non-bank Financial Institution

In a long term project, Bankworld is providing technical assistance and training to assist Cascade Credit (CCr), a non-bank financial institution, in providing SME exporters with working capital, export financing, letter of credit and equipment financing as well as training in export procedures and documentation. It is helping Cascade Credit ultimately promote employment in a competitive private sector and creating an improved business environment.

Armenia: Securities Market Strengthening Activities in Armenia

The goal of the Security Markets Strengthening Activity (SMSA) is to improve the business environment in Armenia by strengthening the key actors in Armenia's securities market and improving the sustainability of the institutions through an increased ability to intermediate capital. SMSA is focused on instilling international best practices and promoting transparency at every level from the market regulators such as the Securities Commission of Armenia (SCA), now part of the Central Bank of Armenia (CBA), to Armenian Stock Exchange (Armex) to market participants-brokers, dealers and market makers thereby building institutional and individual investor confidence in the securities market.

Azerbaijan: Bank Supervision, Accounting Reform, Problem Banks Resolution, and Legal Reform

Bankworld has been advising the National Bank of Azerbaijan in developing banking and central banking laws and regulations, enhancing NBA's on-site inspectors' skills and judgment, and enhancing the off-site surveillance system, adding a Uniform Bank Performance Report and early warning capacity and facilitating its effective use by both the off-site and on-site staff. We have also strengthened NBA's problem bank resolution abilities, and have implemented anti-money laundering inspection procedures. In addition, we are assisting NBA in human resource management.

Azerbaijan: Bank Training Center

Bankworld designed, developed and implemented training courses at the Azerbaijan Bank Training Center (ABTC) in loan management, risk management, marketing and bank management. Individual course elements include: loan workout, credit management, mortgage loans, microfinance, bank guarantees, credit monitoring and assessment, consumer lending, asset/liability management, liquidity management, internal audit, corporate governance, HR management, market research and customer orientation. The courses were given to Azeri bankers, and included train-the-trainers sessions to transfer the skills and subject matter expertise to the faculty.

Bangladesh: Central Bank IT

A Bankworld advisor is providing support to the Bangladesh Bank (the central bank) in implementing a comprehensive automation. The services include advising, technical assistance and engaging Bangladesh Bank business staff and management in developing objectives, organization including teams, management and resource planning, financial projection and monitoring, bidding and evaluation of bids, resolving issues, developing and implementing IT training plan, and forging strong links with business partners and vendors.

Cambodia: Negotiated Instruments Law

Central Asia Republics: Anti-Money Laundering

Bankworld conducted a study to analyze the present situation of AML in Tajikistan, Kazakhstan, and Uzbekistan; pointed out the institutional and legal interventions needed to create an environment hostile to money laundering; and proposed initiatives aimed at increasing ML awareness.

Central Asia Republics: Microfinance Study

Bankworld conducted an evaluation of the Central Asia Microfinance Alliance (CAMFA) Program in four countries of Central Asia: Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan. We assessed the program performance and whether the program best responded to the sector needs given the current socio-economic situation in the region; examined whether CAMFA activities have resulted, or have the potential to result in, positive and sustainable impacts to microfinance institutions and/or the sector in Central Asia; and advised the USAID Mission on what approach would be most effective in promoting the growth of Central Asian microfinance industry.

Georgia: Microfinance

As part of a USAID Microfinance consortium, Bankworld has provided assistance to the project in the following areas: promote the establishment of unambiguous legal status and tax treatment of non-bank MFIs, including ensuring that banking laws do not constrain the operation of microfinance institutions. There are two main parts to this task: amending nine statutes in various parts to remove these ambiguities and constraints and obstacles. To do this we analyzed ways that some of these problems can be solved through the new legislation; and 2) we constructed a plan for setting up a Microfinance Policy Coordinating Body. This involved designing the structure, functionality, and governance of that body and its committees and task forces. It also involved scheduling the first meeting and setting its agenda.

India: Services to Micro, Small And Medium Size Enterprises (MSMEs), Rural And Urban Poor

Bankworld's experts are engaged in an independent and comprehensive assessment, and, based on that, will engage the policy makers in the Indian government, the Reserve Bank of India, selected state governments, and such bodies as SIDBI and NABARD, through a series of short-term technical consultancies in the areas of rural/agricultural finance for farm and non-farm activities, (which may include cooperatives (credit unions), microfinance, rural regional banks, or other broad distribution systems), SME and infrastructure project financing.

India: Infrastructure Finance (Public-Private Partnership)

One of the key barriers to India's broad based and sustainable growth is the poor infrastructure. Given the huge demand for finance for infrastructure projects and limited available funds, the inevitable solution seems to be a massive direct exposure by the capital markets and the banks to infrastructure and public private partnership. Bankworld recognizes the huge importance of this project and has undertaken an assessment of the opportunities and challenges at a policy level.

India: Assessment of the Impact of USAID Support to the Securities and Exchange Board of India (SEBI) and Its Future Technical Assistance Needs

Bankworld conducted an assessment of the impact of USAID's technical assistance program support to the Securities and Exchange Board of India (SEBI) and recommended future interventions, to continue strengthening the regulatory oversight of the market.

India: Insurance Reform

As a member of a consortium, Bankworld assisted in insurance regulation, micro-insurance and development of actuaries. We offered technical assistance and training in modern actuarial modeling techniques to the insurance regulatory authorities. We are strengthening the capabilities of the Indian insurance regulatory authorities, in both financial and market conduct examinations. As part of this effort, we reviewed and assessed current Indian Accounting Standards and statutory accounting policies and compared them with international standards and best practices and recommended changes and/or improvements as needed. Bankworld Advisors also reviewed and assessed the adequacy of early warning ratios currently used by the IRDA and formulated additional early warning ratios applicable to the Indian environment.

We also spoke at conferences on insurance in rural and under-served markets. Bankworld drafted regulations on licensing, capital adequacy, and professional requirements for non-traditional channels of product distribution issues related to micro-insurance. We assisted in forming a working group on micro-insurance issues, included main players in micro-insurance and Indian insurance regulatory authorities.

Iraq: Bank Supervision

A Bankworld Advisor was a member of a two-person team working with the Central Bank to establish a sound financial sector regulatory framework. This involved the creation and staffing of a supervision unit within the Central Bank, development and implementation of sound policies and procedures for licensing, on-site examination, off-site analysis, enforcement of laws and prudential standards, and reporting.

Korea: Consolidated Supervision of Financial Sector

Bankworld conceptualized a comprehensive approach for South Korea for the potential creation of an integrated supervisory body regulating banks, capital markets, insurance companies and non-bank financial institutions, such as credit unions and savings banks. It was a regulation model that consolidated the oversight needs of all.

Indonesia: Anti-Money Laundering

Bankworld provided a legal advisor to Ministry of Finance in Indonesia on an anti-money laundering project funded by the Asian Development Bank. We reviewed coordinated and drafted policies and procedures regarding anti-money laundering (AML) and other compliance and regulatory matters for the capital market regulating agency (BAPEPAM) and the supervisory agency over insurance companies, pensions, and finance companies (DGFI). We developed comprehensive AML compliance manual for use by the Non-Bank Financial Institution regulatory agency. Because of our work, Indonesia was removed from FATF monitoring.

Georgia: Bank Supervision, Accounting Reform, Problem Banks Resolution Training and Technical assistance, and Legal Reform

Bankworld implemented a 5-year program providing technical assistance and training to the National Bank of Georgia and commercial banks for modernizing on and off-site bank supervision, problem banks resolution, legal reform and accounting conversion. Bankworld proposed IAS-based, upgraded Chart of Accounts; assisted in adoption of the modernized chart of accounts and conversion of the banks to IAS; assisted in developing internal audit function, and trained Georgian accountants in IAS to develop a cadre of skilled accountants in Georgia. We developed and implementation and sustainability of an accreditation program for the NBG supervisors covering foreign exchange, asset liability management, credit, among others. Our staff worked with the Central Bank to accomplish the first successful merger and acquisition of a severely troubled bank by another financially viable bank. In bank restructuring and privatization, we further developed procedures for dealing with problem banks including a clear definition of a problem bank; enhance surveillance of problem banks, and remedial strategies and actions to be taken to minimize potential disruptions to other healthy banks.

Worldwide: Development Credit Authority

Under a five-year contract with USAID/Office of Development Credit, Bankworld is assisting DCA to ultimately help use of DCA partial guarantees to stimulate new and increased investment in micro and small businesses, infrastructure, health, energy, agriculture and education in emerging markets in Africa, Latin America, FSU and Asia. The ultimate goal is to assist DCA in providing USAID Field Missions worldwide with the ability and flexibility to select a manageable financing tool based on loan guarantees, to reach their Strategic Objectives.

Since the start of the contract in October 2004, Bankworld has performed several tasks in the area of financial viability analysis of financial institutions seeking loan, portfolio, bond or portable guarantees; credit risk assessment; modeling support; and develop and conduct multiple seminars and workshops for partner banks to enhance utilization of DCA guarantee.

West Bank/Gaza: Economic Development

Bankworld performed an assessment to examine and identify broad areas of Palestinian private sector development where interventions are most needed and can be most effective. These areas include but are not limited to: business sectors development, organizational development (including associations), firm level assistance and business development services, policy dialogue and private-public sector partnerships, trade development, trade promotion and access to markets, and the legal and regulatory framework. The assessment examined current and previous interventions in the aforementioned areas and identified activities that would build upon the successes achieved to date.

Kosovo: Insurance

A Bankworld Advisor developed mortality tables for Kosovo and performed reviews of companies wanting to offer pension and life insurance products.

Lithuania: Technical Services to Address Pension Reform Information Systems and Technology (IS/IT) Needs

Bankworld reviewed the IT system in place in Lithuania's pension system and assisted in the development of an integrated e-based system. The project included the development, procurement, adoption and implementation of an e-filing system to assist the Lithuania authorities in better managing their tax revenues and pension liabilities. The Lithuania authorities want to have more control over their taxation and pension monies and requested assistance from USAID for this purpose. Allowing for electronic tax filing will not only lower the cost of Lithuania's tax collections efforts by automating the process, it will also assist in improving Lithuania's enforcement efforts by freeing up resources to find tax frauds and cheats.

Mali: Microfinance

Bankworld will provide assistance to the project in the following areas: 1) policy reform through work with the Ministry of Finance and BCEAO on implementation of tasks related to financial sector policy and institutional strengthening; 2) the promotion of standards, accreditation, transparency, off-site surveillance, and governance in the Malian microfinance industry; and 3) bank regulatory and supervisory reform.

Moldova: Rural Finance

As part of a multi-year USAID project, Bankworld advisors offered technical assistance and training for institutionalizing policies, procedures and skills in lending/mortgage to rural and micro enterprises at the banks in Moldova. This activity also included on-the-job-training in such lending and counseling to the borrowing businesses. The project was so successful that the head of one of the agricultural cooperatives that frequently worked with the banks said, "[t]ell them in Washington what a difference a little bit of assistance from you made," while gesticulating at the now green fields – thanks to more targeted financing.

Pakistan: Financial Sector Project Design

Bankworld assessed the project structure, timing, deliverables, level of effort requirements, budget, and overall project strategy for a project to assist a financial sector regulator in Pakistan in two areas: 1) the development of a standard chart of accounts for banks and Development Financial Institutions (DFI's) compliant with IAS; and 2) a risk measurement model that would not only make quantitative assessment of risk profile of individual bank and whole financial sector but also predict expected risk profiles under various stress scenarios. Bankworld examined the project documents and consulted with the Pakistani authorities to determine what their needs were and if the project design would meet those needs. We then developed a scope of work, and project framework for use by the donor agency that requested our assistance. The project was released for bid.

Russia: Improved Public Finance

BWI designed and implemented an intensive training project for senior administration and legislative officials in improving public finance administration. The program included developing an implementation plan and overseeing the implementation of surveys and training courses. These courses were given to administration and legislation heads, and officers from three states and approximately 15 Russian cities. Training areas included:

• Budgeting: setting budgetary goals, developing transparent and simplified budgetary development procedures, and managing the overall budgetary process.

• Tax and other revenue generation: tax collection techniques, various methods of taxation, pros & cons of each method, automating tax collection, other revenues sources such as permits and fines, tax administration policies, certification of tax professionals and tax collection agents, and oversight of tax collectors.

• Public procurement: establishing policies and procedures for tender development, proposal requirements, proposal submission process, proposal evaluation criteria, training of evaluators and procurement personnel, and procurement "levels"—purchase order vs. full and open bidding—illustrative of contract amounts for each level.

• Transparency in public administration: explicit hiring and promotion policies and procedures, written policies available to staff and potentially general public, and e-Government applications.

• Internal regulations and procedures: development and use of Inspector Generals and internal oversight policies.

• Ethics and governance issues related to public administration: written ethics codes and limits on gifts to government employees.

• Expense management: employee utilization, cost of administration, and building maintenance and utilization.

• Intergovernmental relations: dealing with federal and other government agencies, setting agendas, and establishing dialogue.

The project was so well received by Russia and USAID clients that Bankworld received an unsolicited letter of appreciation from USAID for our work on this project. According to Stephen Giddings, Office Director for USAID's Office of Social Sector Restructuring, "The program was recognized by regional officials and USG representatives as an extremely important component of the Regional Investment Initiative (RII)."

Sri Lanka: Human Resources Development for the Central Bank

A Bankworld Advisor assisted the Central Bank of Sri Lanka in improving organizational structure and the work methods and processes that are currently used by the central bank. The program also included an overall change in the human resource (HR) functions of the bank.

The Bankworld HR Advisor was responsible for implementing HR policies, practices, and activities to help staff reach their full potential through career and skills development. The HR advisor reviewed and recommended changes to the existing HR policies regarding recruitment, placement, training, promotions and transfers, and performance management. Specific tasks included introducing an electronic HR database to facilitate both management and employee access to information; assessing key competencies and skills sets required by various departments; conducting skills and competency-gap analysis and proposing training to meet these gaps; designing and assisting in the implementation of compensation, superannuation, and performance evaluation systems to attract and retain highly skilled staff; reviewing the existing Conflict Resolution Systems and introducing improvements for productive employer-employee relations; and reviewing and updating the Staff Manual.

Tanzania: Banking and Non-bank Financial Institutions – Policy, Legal, Regulatory and Institutional Study

On behalf of the Government of Tanzania and the World Bank, Bankworld advisors made a comprehensive assessment at the central bank supervision division and at the banks, insurance companies and other non-bank financial institutions; and made recommendations on the strategic actions required by the Government, regulators, various institutions and SROs. We also reviewed and enhanced the earlier assessments of and recommendations for capital markets, pension, money markets the other financial sector market participants.

Ukraine: Bank Training

As part of a multi-year USAID bank restructuring program, in Ukraine, BWI provided technical assistance in Asset Liability Management (ALM). As part of this effort, performed an assessment of the bank's ALM policies and procedures, and then assisted the bank in developing stronger risk management capabilities. Included researching and analyzing information on emerging and systemic risks in the financial services industry in Ukraine, and developing training in credit risk management, risk management systems and processes and overall asset/liability management.

Ukraine: Assistance to the Non-bank Financial Regulator

or the newly created Non-Bank Financial Institution Regulator (NBFIR), Bankworld assisted in the development of: strategy and action plan, regulations, staff development, information system, and a long-term development assistance program terms of reference. The NBFIR regulates financial institutions involved in the following sectors: insurance, private sector pensions, non-bank credit providers including credit unions and potentially non-bank mortgage providers, leasing companies, pawnbrokers, and trust funds (mutual funds).

Ukraine: Design, Preparation, and Implementation of Comprehensive Training Program for Banking Supervision Staff of the National Bank of Ukraine

Bankworld assisted the National Bank of Ukraine in the creation of a comprehensive professional development program for the banking supervision staff, including on-going training, course curricula and schedule. Training courses have included: management, train-the-trainers, asset/liability management, credit, anti-money laundering, BankExec, internal control and audit, International Accounting Standards, and bank examination techniques. A Bankworld team went to Ukraine to develop the curriculum and perform a training needs assessment. We made our recommendations based on this study, and then offered training in bank supervision, as well as training the trainers.

USA: Office of the Comptroller of Currency:

Bankworld has a contract with the Office of the Comptroller of Currency (OCC) to assist that agency in carrying out on-site examinations. Activities include: preparing training material and providing training related to specific bank examination services to government examiners; assisting in the examination of selected banks by evaluating or verifying bank functions, condition, or performance; analyzing and assessing examination reports; researching the causes and potential impact of financial and non-financial events and issues; researching and analyzing information on emerging and systemic risks in the financial services industry; and identifying specific weaknesses in bank processes and recommending corrective action where warranted.

Vietnam: Insurance Industry

Bankworld assisted in strengthening insurance regulation and supervision in Vietnam. We also assisted in the development of an early warning system suitable for the Vietnamese insurance market; drafted an incentive system for insurance companies to develop new insurance products, especially for products related to agricultural, forestry, and fisheries; and drafted a master plan to develop actuaries and loss adjusters in Vietnam.