Samoa: Assessment of Financial Sector Supervision and Regulation including Report on the Observance of Standards and Codes on Banking Supervision

International Monetary Fund

No 2007/221, IMF Staff Country Reports from International Monetary Fund

Abstract: This assessment of Financial Sector Supervision and Regulation for Samoa provides an overview of legal and institutional frameworks. Compliance with the Basel Core Principles (BCPs) for the supervision of international and domestic banks has improved considerably. Supervision of domestic banks should be strengthened further through issuance of additional guidance on banks’ risk-taking activities and corporate governance. Consideration should be given to enhancing the operational independence of the Samoa International Finance Authority (SIFA) to supervise international banks.

Keywords: ISCR; CR; bank; Samoa; authority; shell bank; lending; SIFA personnel; CFT regime; CBS's relationship; legal power; offshore bank; banks' compliance; SIFA's function; responsibility of the Samoa International Finance Authority; domestic bank; IBA to SIFA; Foreign banks; Bank supervision; Offshore financial centers; Anti-money laundering and combating the financing of terrorism (AML/CFT); Asia and Pacific (search for similar items in EconPapers)
Pages: 31
Date: 2007-06-29
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