VEGA’s financial service programs strengthen and reform central, commercial and investment banking systems, capital markets, corporate governance, pension and insurance systems. Volunteers provide assistance on an operational as well as a broader policy level, helping government officials and regulators around the world in overcoming technical hurdles, while building sound public policy in the financial sector. This may involve liquidity management, investment mechanisms, effective credit reporting systems, financial institutions and credit bureau formation, just to name a few. Enabling the Financial Environment: Helping governments adopt international accounting standards to ensure transparent and consistent presentation of solvency, profitability, and liquidity information; Guiding government officials in adopting international banking standards, which include conflict of interest rules, for safe and sound operation of regulated financial entities including liquidity and funds transfer facilities and securities markets; Helping governments establish regulatory frameworks that allow sound financial institutions to capture savings while protecting interests of depositors; Facilitating the productive channeling of remittances into the financial system through improved tax and other incentives; Assisting with pension reform by providing commentary on draft of laws and regulations, developing IT systems for regulatory agencies; Training supervisory and regulatory authorities, and helping to structure nascent supervisory agencies dealing with the pension industry, as well as developing portfolio management standards for private pension and insurance funds; Helping officials formulate methods for effective collection of contributions and helping produce public information campaigns to educate the public on planned reforms; Providing important mechanisms for investment, the funding of governments and corporations, risk and liquidity management, and corporate governance to strengthen the institutional framework for the various capital market organizations, including private market participants, as well as regulatory authorities. Creating programs that assist banks in creating credit bureaus and effective credit reporting systems, developing business plans and providing legal commentary on pending legislation. Developing Financial Institutions Helping government officials and private sector partners form formal financial institutions, such as commercial banks, credit unions and other cooperatives, leasing and finance companies, and specialized financial institutions; Assisting clients to form non-formal financial institutions, such as community organizations, micro finance institutions and NGOs; Facilitating non-financial firms, merchants, processors, and marketers to extend trade credit or link with financial institutions to lower the cost and improve the effectiveness of screening, disbursement, collection, and enforcement activities; and Providing programs that assist banks in creating credit bureaus and effective credit reporting systems, developing business plans and providing legal commentary on pending legislation.

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