Strengthening of Financial Sector

closed

Objectives: The objective of the program is to provide support for continuing the financial sector reform process currently being implemented by the Honduran government, and incorporate any applicable international banking and insurance standards. Description: The program has two components: 1) Strengthening of the regulatory and prudential framework of the financial system through the following activities: (a) extend supervision to the non-banking financial institutions in the system; (b) expand the National Banking and Insurance Commission's [Comisión Nacional de Bancos y Seguros] (CNBS) risk center; (c) create a comprehensive system of activities to protect the institutions in the financial sector; (d) integrate the BCH and CNBS information systems with those of the institutions in the financial system; and 2) Strengthening of the training system of the Honduran Association of Banking Institutions [Asociación Hondureña de Instituciones Bancarias] (AMA) and the Honduran Chamber of Insurance Companies [Cámara Hondureña de Aseguradoras] (CAHDA) to improve the system's human resources.