SAARCFINANCE CO-ORDINATORS’ CONFERENCE: ISSUES AND DECISIONS. A Presentation By AYUB UL HASAN Economist Economic Policy Department. SAARCFINANCE: A BIRD’S EYE VIEW.
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A Presentation By
AYUB UL HASAN
Economic Policy Department
Originally, the following specific matters were to be considered by the Network:
Subsequently, the Network’s scope was widened to include, among others, the following:
Governor of the Central Bank, holding the Network’s Secretariat, serves as the Chairperson of SAARCFINANCE.
Each member country has a SAARCFINANCE Co-ordinator to serve as a focal point of the Country towards Network’s affairs.
Regular Meetings of the SAARCFINANCE Network are held at least twice a year at the time of the Spring and Annual Meetings of the IMF and the World Bank.
Coordinators’ Meeting takes place once in a year, generally one month before the Annual Meeting of BWIs, in the country holding the Network’s Secretariat.
Since inception of the Network, 135 officers visited various institutions of member countries under SAARCFINANCE Staff Exchange Program. The matters of the Staff Exchange covered a broad range of issues, ranging from risk-based supervision to human resource management and forward marketing arrangements for agricultural produce, etc.
23RD SEPTEMBER, 2004
Staff Exchange Program
Country RBI CBSL SBP NRB BB Total
Bangladesh 6 - 4 - - 10
Bhutan 31 5 - 3 - 39
India - 1 - - 1 2
Maldives 2 2 - - - 4
Nepal 5 15 3 - 4 27
Sri Lanka 46 - 4 2 1 53
Total 90 23 11 5 6 135
Staff Exchange Program
Seminars and Studies
Formation of SADB
SAARCFINANCE was asked by the SAARC Council of Ministers to look into the issues of formation of SADB and SAEU.
State Bank of Pakistan initiated the process of hiring a Consultant from World Bank to carry out the feasibility of setting-up SADB.
Coordinators were requested to brief their Governors about the feasibility of setting-up the SADB which was to be discussed during 11th meeting of the Network
Formation of SAEU
It was felt that realization of the goal appeared to be somewhat immature, at this point in time. It was, therefore, decided to undertake further studies on the subject so as to move towards the eventual realization of the SAEU in future.
The SAARCFINANCE Chair would be formally handed over to Bangladesh (subject to holding of SAARC Summit in January 2005) during 12th meeting of the Network .
India and Bangladesh were still without Coordinators at the Ministry of Finance. It was decided that it was up to the country in question to decide as to the need to have a Coordinator at the Ministry of Finance.