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BCTL hosts Joint Onside Examination Program
BCTL hosts Joint Onside Examination Program
20 | 06 | 2016
20 | 06 | 2016
Dili, 20 June 2016
Banco Central de Timor-Leste (BCTL) today launched a joint onsite examination program of insurance companies with assistance from the Australian Prudential Regulation Authority (APRA).
The joint examination program is scheduled to run for two weeks, from 20 June to 1 July 2016. The first week is centred on a training program which covers a range of topics related to onsite examination, as well as preparing for an onsite examination. The field work for the onsite examination itself will be carried out during the second week.
The program is a product of the cooperation arrangements embodied in a Memorandum of Understanding signed by BCTL and APRA in December 2015.
Besides participants from the BCTL, the program is also being attended by representatives of financial institution supervisory authorities from a number of Pacific Island nations, including the Central Bank of Samoa, the Financial Supervision Commission of the Cook Islands, the Bank of Papua New Guinea and the Central Bank of the Solomon Islands.
The objective of the program is to provide BCTL insurance staff and the other participants with experience and capacity skills as well as knowledge of examination programs.
