1. The international bank on-site supervision expert commenced his 4 months assignment on 16 August 2010. The assignment included; training of the on-site supervision staff, formulation of an "user-guide" for problem banks administration and resolution, follow-up and provide advise on issues identified during the previous field inspection, and assisting staff to advance towards full compliance with Basel 1 core principles for bank supervision. The closing date for contract was extended to 30 June 2011. Final Report was reviewed by NBC and finalized by Mission Leader in August 2011.
2. The international MFI supervision expert commenced his 3 months contract on 12 July 2010. The assignment included; updating prudential regulations for MFIs, guidance and on-the-job advise to staff of NBC during on-site field inspection of selected MFIs, assisting NBC staff to formulate action plans to address issues identified during recent off and on-site reviews. Assignment completed on schedule.
3. The international insurance expert commenced his 4 months contract on 2 July 2010. The assignment included; assistance to MEF in updating the insurance law and implementing regulations, updating of the prudential regulations for insurance, training of the staff on tools for off and on-site inspection of the insurance firms. The consultant is in the field for his final mission that will conclude at the end of July 2011. Final Report submitted and reviewed by MEF before it was endorsed by Mission Leader on 15 August 2011.
4. The international IT expert commenced his 3 months contract on 12 July 2010. The assignment included; guidance and support to the NBC to complete the installation of the integrated accounting system including the branch roll-over, help to establish the governance framework and processes for the operation of the new system, ensuring the support services both within the NBC and from the external contractors is operational, and ensuring that effective resources and capabilities are in place to support the new system. The assignment successfully completed.
5. The international arbitration expert commenced his first field visit on 7 February 2012 following the announcement of the results of the qualifying examinations for the arbitrators in late 2011. The international expert will assist the Ministry of Commerce in the preparation for establishment of the national arbitration center. His Inception Report has been jointly reviewed and approved by the MOC and ADB in March 2012. The expert will help MOC develop the rules and procedures for the Center, the three year business plan and budget, code of conduct, etc.
6. The international commercial lawyer commenced his 2 months contract on 14 July 2010. The assignment included the hand-on support to the Ministry of Commerce in responding the Council of Ministers during the discussion of the draft commercial contract law. His draft final report has been jointly reviewed and endorsed by the MOC and ADB in March 2012.
7. The international payments expert commenced his 10 months contract on 25 August 2010. The assignment continued the support for; updating the national payment roadmap for upgrading the payments system, improving the payment instruments to reduce dependence on cash, procurement of the hardware and software for a full solution for clearance and settlement of checks, upgrading of systems for check and electronic payments, clearance and settlement, training of the PPU staff, and support the development of the legal and regulatory framework to support the above changes. Support from the international and national consultants are on-going towards launching the full clearance system for checks in December 2012.
8. The establishment of the credit bureau did not require support through the TA resources. NBC worked closely with the international service provider to establish the credit bureau. The credit bureau, fully owned by private sector owners, commenced operation in March 2012.
TA completion date has been extended to 31 December 2012.
Awaiting for 1 remaining Certificate of Full Payment before TA is financially closed.