banca d’italia نانبل فرصم - nasser...
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Banca d’Italia- مصرف لبنان Cooperation & Assistance
Dr. Nasser Saidi
Banque du Liban
June 2003
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Banque du Liban June 2003
Dr. Nasser Saidi
EU CB Cooperation
2
Background & Objectives: the ‘Barcelona
Process’ and Beyond
Historic links and common values have
established proximity and interdependence
Regional conflicts, uncertainty & instability:
requires remedial, intelligent, purposeful action
Create & Develop Institutional links
Barcelona process:
Need to revise approach & instruments
Need to develop a monetary, payments, banking
& financial market ‘leg’
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Banque du Liban June 2003
Dr. Nasser Saidi
EU CB Cooperation
3
Background & Objectives: develop EuroMed
Association Agreements
‘EuroMed Association Agreements:
Main economic focus is on free trade area &
commercial policy
Need to widen scope to encompass: investment,
money and payments, banking & financial
markets
EU-Lebanon AA : approved 2 Dec 2002 Lebanese
Parliament, 15 Jan 2003 EU Parliament
Interim TA: free trade by 12 years of entry into
force
Italy is Lebanon’s main trade partner
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Banque du Liban June 2003
Dr. Nasser Saidi
EU CB Cooperation
4
Background & Objectives: Role of Monetary
Authorities
Monetary authorities should be pro-active
Monetary authorities can be catalysts
Monetary authorities have special role and
responsibility to:
Consult & cooperate in their areas of authority &
competence
Act to ensure banking and financial stability
Promote Money & Financial market integration
Facilitate trade & investment flows
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Banque du Liban June 2003
Dr. Nasser Saidi
EU CB Cooperation
5
Cooperation & Consultation: Areas for
Cooperation
Monetary Policies-Exchange Rate Systems
Macroeconomic Policies & Financial Systems
and developments
Payment System Integration
Capital Market Development and Integration
Legal and Regulatory Harmonization
Statistics
Information Technology
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Banque du Liban June 2003
Dr. Nasser Saidi
EU CB Cooperation
6
Cooperation & Consultation: Proposed Tools
Observatories, Seminars and Conferences
Set-up joint Working Groups and Commissions
Technical Assistance programs:
Bilateral
Multi-lateral
Set-up a EuroMed Central Bank Training Institute
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Banque du Liban June 2003
Dr. Nasser Saidi
EU CB Cooperation
7
Central Bank Working Groups & Commissions
Objective: bridge “divides”, create links and foster
spirit of partnership
Bilateral & Multi-lateral
Hosted on both shores of the Mediterranean
Organize regular seminars & workshops
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Banque du Liban June 2003
Dr. Nasser Saidi
EU CB Cooperation
8
WG-I: Monetary and Macroeconomic Policies
Objectives:
Exchange views & information on monetary,
exchange rate and macroeconomic policies
Develop basis for monetary policy coordination
Understand and measure links (trade in goods &
services, investment, factor mobility, money &
financial markets), and channels of transmission
and contagion effects
Deliverables:
Produce “Blue Books” for the Mediterranean
countries
Set-up a Monetary/Macroeconomic Observatory
Develop a EuroMed-System
Papers and Policy Briefs
Empirical work: Bilateral & Multilateral Macro-
econometric models
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Banque du Liban June 2003
Dr. Nasser Saidi
EU CB Cooperation
9
WG-II: Payment Systems
Objectives:
Exchange information & expertise on payment systems & operations
Integrate & create a common payments network, expanding the scope & penetration of the Euro
Create conditions enabling Mediterranean Partner countries to ‘leapfrog’: e-Payments
Deliverables:
Integrate Med Partners into Eurosystem: set-up “MedPayments” to facilitate trade & investment
Participate/observe in European Payment Council (EPC)
e-Payment initiatives for retail payments
Extend TARGET II to the Mediterranean Partners, TARGETMED system
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Banque du Liban June 2003
Dr. Nasser Saidi
EU CB Cooperation
10
WG-III: Financial Markets
Objectives:
Promote the development of local capital markets in
the Mediterranean countries
Foster banking integration
Facilitate access to EU capital markets
Deliverables:
Technical assistance for the set-up of local stock
exchanges and capital market authorities
Freedom of access to banking markets
Access of Med governments and corporations to
EU financial markets; listing of bonds & equities
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Banque du Liban June 2003
Dr. Nasser Saidi
EU CB Cooperation
11
WG-IV: Legal and Regulatory Issues
Objectives:
Modernisation of Mediterranean money, banking and financial laws, adoption of modern financial infrastructures
Harmonization of banking and financial laws, regulations and standards in a structured and systematic manner
Cooperation in banking & financial supervision
Deliverables:
Survey money & banking laws & regulations: produce a series of “Legal & Regulatory Green Books”
Creation of a Euro-Mediterranean Group of Bank Supervisory Authorities
Assist in developing legal & regulatory infrastructure for eBanking, ePayments and eFinancial Services
Assist in improving accounting, auditing, supervision and regulation of financial services and financial monitoring in accord with international codes and standards
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Banque du Liban June 2003
Dr. Nasser Saidi
EU CB Cooperation
12
WG-V: Statistics
Objectives:
Exchange and harmonize statistics and
information on developments in the monetary,
payments, banking and financial sector
Deliverables
Produce a Handbook and regular Money &
Banking Statistics reports
Develop quality, reliable payment statistics
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Banque du Liban June 2003
Dr. Nasser Saidi
EU CB Cooperation
13
WG-VI: IT
Objectives:
Harmonize & integrate ICT systems to support monetary,
payments and financial integration
Provide security and confidentiality for, data, information,
transactions and e-payments
Achieve interconnection & interoperability of standards,
telematic networks and services (cf. Art. 53 of AA)
Deliverables
Develop and set common standards to allow straight-
through-processing and security
Participate/observe in electronic Payment System
Observatory (ePSO)
Link-up databases and networks
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Banque du Liban June 2003
Dr. Nasser Saidi
EU CB Cooperation
14
Banca d’Italia and the Banque du Liban: build
a Partnership & ‘Association Agreement’
BDL is looking to develop a partnership with
the Banca d’Italia in the proposed areas of
central bank cooperation
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Banque du Liban June 2003
Dr. Nasser Saidi
EU CB Cooperation
15
Banca d’Italia and the Banque du Liban: build
a Partnership & ‘Association Agreement’
Priorities identified:
Feasibility & Road Map for SeBIL prepared
Technical cooperation in the implementation of :
• Secure IT Infrastructure: request for proposals
available
• Applications
• BDL Business Process re-engineering & MIS
Develop legal & regulatory infrastructure to
support SeBIL
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Banque du Liban June 2003
Dr. Nasser Saidi
EU CB Cooperation
16
Banca d’Italia and the Banque du Liban: build
a Partnership & ‘Association Agreement’
Priorities identified:
Government & Public Utilities Payments
Technical assistance in developing ePayments
Lebanon as a potential pilot project for
TARGETMED
Lebanon will prepare first Med Blue Book
Set-up WG and technical assistance missions
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Banque du Liban June 2003
Dr. Nasser Saidi
EU CB Cooperation
17
Banca d’Italia مصرف لبنان
![Page 18: Banca d’Italia نانبل فرصم - Nasser Saidinassersaidi.com/wp-content/uploads/2012/07/Banca-dItalia-LB...Banca d’Italia- نانبل فرصم Cooperation & Assistance Dr](https://reader034.vdocuments.us/reader034/viewer/2022052609/5afe05b37f8b9a434e8e83de/html5/thumbnails/18.jpg)
Banque du Liban June 2003
Dr. Nasser Saidi
EU CB Cooperation
18
Grazie شكرا
Banca d’Italiaمصرف لبنان