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blueprint - DOC


									                         CURRENCY EQUIVALENTS
                           (as of 14 November 2001)

               Currency Unit        -       Cambodia riel (KR)
                    KR1.00          =       $0.00026
                       $1.00        =       KR3835


ADB       -   Asian Development Bank
BIS       -   Bank for International Settlements
BSD       -   Bank Supervision Department, National of Cambodia
CAMINCO   -   Cambodia National Insurance Company
CBS       -   Center for Banking Studies
DFI       -   Development Financial Institutions
FDI       -   Foreign Direct Investment
FTB       -   Foreign Trade Bank
FIR       -   Financial Interrelation Ratio
GDP       -   Gross Domestic Product
IAS       -   International Accounting Standards
IFAC      -   International Federation of Accounting
IFC       -   International Finance Corporation
IMF       -   International Monetary Fund
ISA       -   International Standards on Auditing
IT        -   Information Technology
MEF       -   Ministry of Economy and Finance
MFI       -   Micro Finance Institution
MOC       -   Ministry of Commerce
MSD       -   Microfinance Supervision Department
NBC       -   National Bank of Cambodia
NBFI      -   Non Bank Financial Institutions
NGO       -   Non Governmental Organization
PCA       -   Prompt Corrective Action
PPTA      -   Project Preparation Technical Assistance
PRGF      -   Poverty Reduction and Growth Facility
RDB       -   Rural Development Bank
SEC       -   Security and Exchange Commission
SEDP      -   Socioeconomic Development Plan
SME       -   Small- and Medium-sized Enterprise
T-Bill    -   Treasury Bill
TA        -   Technical Assistance


                       In this report, "$" refers to US dollars.
                                                   FINANCIAL SECTOR BLUPRINT FOR 2001-2010
I.      Banking Sector

VISION: A competitive, integrated,                       Phase I                                   Phase II                                  Phase III
and efficient banking system that is                   (2001-2004)                               (2003-2007)                                (2008-2010)
properly regulated and supervised
and effectively mobilizes saving to
                                            Lay Foundation for the Banking                 Enhance Intermediation                   Promote Efficiency through
provide financing to support the
                                                       Sector                                   Competition                        Integration & Reorganization
growth of the private sector.

Monetary Policy                         Establish basic framework for               Improve monetary policy                    Develop market-based monetary
                                        monetary policy                             instruments                                policy framework

                                            Streamline reserve requirements.          Phase-out reserve requirements.           Introduce open market operation
                                            Supply government securities.             Commence the operation of                  system with the development of
                                            Adopt a plan to implement                  refinance/rediscount windows.              money markets.
                                             rediscount facility and refinance

Supervision and Prudential             Establish framework for supervision          Improve enforcement of prudential          Upgrade prudential regulations
Regulations                                                                         regulations
                                            Revise existing regulations and                                                      Refine prudential norms in full
                                             phase in new regulation consistent        Strengthen the implementation of           compliance with the BIS guideline.
                                            with international standards.               PCA.                                      Strengthen with the expansion of
                                            Establish surveillance and                Commence full on-site inspection           non-banking business of banks.
                                             inspection procedures.                     with NBC staff.
                                            Establish fully staffed supervision       Establish legal and regulatory
                                             department.                                framework and procedures for bank
                                            Establish a bank uniform chart of          M&A and P&A.
                                             accounts and disclosure rule              Establish transparent exit
                                             consistent with IAS.                       mechanism and streamline exit
                                            Establish a prompt corrective action       procedures.
                                              (PCA) system based capital               Establish legal protection for
                                            adequacy.                                   supervisors against lawsuit for
                                            Establish an anti-money laundering         actions taken in fulfilling official
                                              regulation.                               duties.
                                                   Phase I                                    Phase II                                  Phase III
                                                 (2001-2004)                                (2005-2007)                               (2008-20100)

Banking Industry and Competition   Restructure Banking Sector                 Enhance banking service through            Facilitate bank reorganization through
                                       Restructure/privatize FTB.            diversification of banking business        incentive and reinforced supervision
                                       Complete bank re-licensing and
                                        liquidation of problem banks.             Diversify the scope of business by        Establish an incentive system for
                                       Complete the recapitalization of           allowing banks to expand business          promoting voluntary bank M&A
                                        conditionally viable banks.                into other non-banking sector.             and P&A.
                                       Establish contingency plan for            Facilitate banks to set up non-bank       Reinforce minimum capital
                                        banks that do not comply with              financial institution (NBIF)               requirement for banks involved in
                                        MOU conditions.                            subsidiaries.                              diverse non-banking businesses.
                                                                                  Establish legal and regulatory            Strengthen PCA to facilitate early
                                                                                   framework for consumer finance.            and orderly exit of non-viable
                                                                                  Create regulatory framework for            banks.
                                                                                   banks to undertake credit card
                                                                                   service, installment finance, etc.

Payments System                    Establish framework for payment            Improve efficiency of payment system       Establish an integrate on-line
                                   system                                     through IT investment                      interbanking system
                                       Further improve operational                                                          Integrate individual bank on-line
                                        procedures for both Riel and dollar       Establish a central bank wire              networks including the central bank
                                        cleaning system, considering the           system.                                    wire system.
                                        compliance capability of                  Automate the clearinghouse.
                                        commercial banks.                         Establish on-line banking system
                                       Adopt a payment law to underpin            by increasing investment in IT in
                                        the payment system.                        the banking operations.
                                       Improve a back-up mechanism for
                                        smooth operation of payment
                                       Bankers association to adopt a
                                        protocol to set up on-line banking
                                        system to enable future integration
                                        of on-line banking network under
                                        the guidance of NBC.
                                               Phase I                                     Phase II                                  Phase III
                                             (2001-2004)                                 (2005-2007)                                (2008-2010)

Outreach to the Rural Areas                                                 Promote the outreach to the rural areas   Strengthen the outreach to the rural
                                                                            by encouraging establishment of           area through competition
                                                                                                                          Establish a legal framework for
                                                                                Adopt an incentive system to              community-based savings
                                                                                 encourage banks to expand                 institutions (e.g., credit unions,
                                                                                 branches into rural areas.                cooperative, etc.).

Capacity Building             Establish framework for and initiate          Strengthen NBC organizational             Enhance central bank independence
                              basic capacity building.                      structure.
                                  Establish an inclusive bankers                                                         Review the authorities of the
                                   association.                                 Redesigning division of                   Central Banking Law to step up the
                                  Strengthen capacity building                  responsibilities among departments        independence of NBC.
                                   institutions in the public sector: the        with new job descriptions.
                                   Center for Banking Studies (CBS)             Introduce a performance-based
                                   to employ full-time instructor with           compensation and promotion
                                   competitive compensation schemes.             system to retain and develop
                                  Establish a banking institute for             qualified staff.
                                   professional training of commercial          Establish effective recruitment
                                   bankers.                                      system to attract competent staff
                                   Strengthen capacity building of              into NBC.
                                   NBC: compulsory training of new
                                   recruits, remedial training of staff
                                   with high school education, and
                                   intensive training of supervision
II.     Rural Finance

VISION: Establish viable, pro-poor                       Phase I                                     Phase II                                    Phase II
and effective rural finance system for                 (2001-2004)                                 (2005-2007)                                 (2008-2010)
providing affordable financial services
to enable the poor to enhance rural
income and reduce poverty.                Implement the Policy and Institutional       Increase Poverty Reduction Impact                    Enhance Outreach
                                           Framework for Rural Finance Sector

Implement and Enhance Rural Credit        Implement agreed policy actions          Policy review and coordination                 Policy review and coordination
Policy (RCP)
                                              Make applicable the provisions of         Review, and if required amend               Policy review and coordination will
                                               the Banking Law to develop the             RCP in the context of the ongoing            continue as in Phase II.
                                               rural finance sector.                      financial sector development
                                              Create forum for policy                    measures.
                                               coordination.                             Coordinate rural finance sector
                                                                                          development with intervention in
                                                                                          poverty reduction, agriculture, rural
                                                                                          infrastructure, irrigation, and
                                                                                          agricultural research and extension.

Strengthen Supervision and                Strengthen supervision and regulation    Improve application of prudential              Introduce self-regulating mechanism
Regulation                                                                         regulations
                                              Establish supervision system for                                                       Enhance the multi-sect oral NGOs
                                               licensed MFIs consistent with the         Strengthen the implementation of             to develop a self-regulatory
                                               overall framework for the banking          supervision and regulatory system.           mechanism for minimum service
                                               sector.                                                                                 standards.
                                              Introduce appropriate prudential                                                       Encourage emergence of rating
                                               norms for licensed MFIs.                                                                agency for licensed MFIs.
                                                                                                                                      Review and update prudential
                                                Phase I                                      Phase II                                   Phase III
                                              (2001-2004)                                  (2005-2007)                                (20080-2010)

Building Rural Financial        Facilitate Institutional transformation      Establish range of service providers        Establish a comprehensive institutional
Infrastructure                  linkages, and services delivery                                                          network
                                                                                 Establish venture capital and equity
                                    Facilitate transformation of                 funds for licensed MFIs.                   Establish legal framework for small
                                     identified NGOs into licensed               Introduce leasing and crop                  farmer owned credit union and
                                     MFIs.                                        insurance.                                  cooperatives.
                                    Enhance access to resources of                                                          Review equity threshold for
                                     community-based groups through                                                           licensed MFIs.
                                     licensed MFIs.
                                    Promote deposit and micro credit
                                     through licensed MFIs.

                                                                             Enhance institutional network

                                                                                 Enhance flow of term finance for
                                                                                  agriculture through resource
                                                                                  support and enhanced presence of
                                                                                  banks in rural areas.
                                                                                 Facilitate transformation of
                                                                                  merged/restructured banks into
                                                                                  licensed MFIs.
                                                                                 Adopt incentive system for CBs to
                                                                                  expand in rural areas.
                                                                                 Provide support for establishment
                                                                                  of licensed MFIs.
                                                                                 Deepen and broaden linkages
                                                                                  between community group,
                                                                                  licensed MFIs and banks.
Create institutional Capacity   Build sustainable institution                Enhance effective intermediation            Update and upgrade skills

                                    Strengthen Rural Development                Develop specialized training               Establish linkages with regional
                                     Bank.                                        centers.                                    training centers.
                                    Comprehensive capacity building             Introduce rural finance
                                     support for licensed MFIs.                   specialization in structured
                                    Rural finance orientation for banks          /reorganized banks.
                                    Introduce specialized skills for off-       Facilitate downscaling of
                                     site and on-site supervision.                operations for banks intending to
                                    Improve collection, collation and            enhance micro finance operations.
                                     analysis of rural finance data.
                                              Phase I                                 Phase II                                   Phase III
                                            (2001-2004)                             (2005-2007)                                 (2008-2010)

Ensure Pro-Poor Orientation   Capacity for optimal utilization of     Promote innovative micro finance pilot       Enhance outreach to special micro
                              finance services                        projects                                     finance groups

                                  Organizing the poor into               Establish pilot projects in resource       Replicate successful pilots.
                                   community groups for financial          poor areas.                                Enlarge coverage of safety nets.
                                   services.                              Bring innovations to address
                                  Enhance capacity of community           specific clients groups (e.g., the
                                   groups to establish linkages            disabled).
                                   licensed MFIs.
                                  Support capacity building of the
                                   poor for management of income-
                                   generating activities.
                                                                      Introduce safety net to reduce risks and

                                                                          Introduce risk mitigation tailored to
                                                                           the needs of the poor.
                                                                          Extend protection to the savings of
                                                                           the poor.
III.    Insurance Sector and Pension System

VISION: The insurance sector that                           Phase I                                     Phase II                                   Phase III
projects businesses and individuals                       (2001-2004)                                 (2005-2007)                                 (2008-2010)
from catastrophic events and the
pension system that of which provide          Establish Foundation for Insurance           Promote Insurance Market through             Strengthen Insurance Sector and
capital for long-term investment in the       sector and Determine Feasibility for           Private Sector Development and             Initiate Establishment of Pension
real sector.                                            Pension System                      Establish Foundation for Pension                          System

Insurance Sector Supervision and          Establish regulatory and supervisory         Strengthen insurance regulation and          Upgrade prudential regulation for
Regulations                               framework for insurance                      supervisory framework                        insurance sector

                                                Establish and insurance supervisory         Refine and complete corpus of              Establish an independent insurance
                                                 unit within MEF.                             prudential regulations to cover             supervisor.
                                                Adopt a sub-decree to implement              expanded insurance products.               Upgrade prudential regulations in
                                                 the insurance law.                          Reinforce the insurance supervisory         accordance with the insurance Core
                                                Establish prudential regulations             unit by enlarging staff with                Principle of the International
                                                 including uniform chart of accounts          qualified personnel.                        Association of Insurance
                                                 and disclosure rule consistent with         Adopt a plan to establish an                Supervisors (IAIS).
                                                 IAS/ISA, prompt corrective action            independent insurance supervisory          Introduce risk-based capital
                                                 system, etc.                                 agency.                                     requirement.

Compulsory Insurance                      Establish framework for compulsory

                                                Adopt a plan and establish legal
                                                 framework to implement
                                                 compulsory insurance.
                                                Establish an inter-ministerial
                                                 working group to develop
                                                 enforcement and monitoring system
                                                 for compulsory insurance.
                                                  Phase I                                    Phase II                    Phase III
                                                (2001-2004)                                (2005-2007)                  (2008-2010)

Insurance Industry Organization   Establish basis for private sector         Promote competitive private sector
                                  development                                insurance market

                                      Establish a joint venture between         Facilitate private insurance
                                       the state-owned insurance company          companies' entry into underwriting
                                       and a private company.                     business.
                                      Develop a transparent entry               Encourage foreign companies'
                                       mechanism.                                 participation.
                                      Adopt regulations to require all          Establish insurance institutions
                                       insurance policies to be insured          Divest MEF shares in joint venture.
                                       locally first.
Outreach to the Rural Areas                                                  Increase outreach to rural areas

                                                                                 Introduce crop insurance, weather
                                                                                  insurance, etc.

Capacity Building                 Build capacity of insurance regulators     Establish a training institution for the
                                  and supervisors                            insurance sector

                                      Conduct intensive capacity building       Establish a comprehensive
                                       activities for insurance regulators        insurance training institution
                                       and supervisors.                           through international cooperation.
                                      Establish a training program to
Insurance Infrastructure               build the enforcement and             Develop an actuarial professional body
                                       monitoring capacity in the related
                                       government agencies.                      Adopt legal and regulatory
                                                                                  framework for a public actuarial
                                                                                 Create an actuarial profession.
                                             Phase I                                   Phase II                                Phase III
                                           (2001-2004)                               (2005-2007)                              (2008-2010)

Pension System
Legal Framework              Conduct feasibility study to establish a   Establish legal framework for pension    Implement legal framework for pension
                             multi-pillar pension system                system                                   system

                                 Conduct feasibility study to              Adopt legal framework for               Adopt sub-decree to implement
                                  determine appropriate design and           mandatory public pension program.        legal framework for mandatory
                                  timing for a mandatory public             Adopt legal framework for                public pension program.
                                  pension program, mandatory                 mandatory privately managed fund        Adopt sub-decree to implement
                                  privately managed funded pension           pension program.                         legal framework for mandatory
                                  program, and voluntary retirement         Adopt legal framework for                privately managed funded pension
                                  savings programs.                          voluntary retirement savings             program.
                                                                             programs.                               Adopt sub-decree to implement
                                                                                                                      legal framework for voluntary
                                                                                                                      retirement savings programs.

                                                                                                                 Implement mandatory public pension

                                                                                                                     Introduce mandatory public pension

Supervision and Regulation                                              Establish regulatory and supervisory     Strengthen regulatory and supervisory
                                                                        framework for pension system             capacity for pension system

                                                                            Establish supervisory and               Refine and complete corpus of
                                                                             regulatory body for pensions.            prudential regulations to cover
                                                                            Establish basic prudential               expanded pension system.
                                                                             regulations.                            Reinforce pension supervisory body
                                                                                                                      by enlarging staff with qualified
                      Phase I                     Phase II                                    Phase III
                    (2001-2004)                 (2005-2007)                                  (2008-2010)

Capacity Building                 Build capacity of pension regulators         Establish capacity building institution
                                  and supervisors                              for pension sector

                                      Conduct intensive capacity building         Establish comprehensive pension
                                       activities for pension regulators and        industry training institutions
                                       supervisors.                                 through international cooperation.
IV.     Non-Bank Sector

VISION: The establishment of diverse        Phase I                     Phase II                              Phase III
non-banking financial products and        (2001-2004)                 (2005-2007)                            (2008-2010)
institutions that create more balanced
financial structure, increase the depth
of financial market, and promote                            Establish Foundation of NBFIs          Promote Diversification of NBFIs

Leasing Business                                        Develop leasing business
                                                           Adopt a leasing law.
                                                           Adopt a leasing regulation for
                                                            commercial banks to conduct
                                                            leasing business and/or to establish
                                                            leasing company subsidiaries.
                                                           Adopt a policy framework for
                                                            promoting joint venture leasing

Money Market Intermediary                               Develop money market intermediaries

                                                            Establish legal and regulatory
                                                             framework for finance companies,
                                                             investment companies, individuals
                                                             and money market broker/dealers.
                                     Phase I                    Phase II                                  Phase III
                                   (2001-2004)                (2005-2007)                                (2008-2010)

Capital Market Intermediary and                  Develop capital market intermediaries     Develop institutional investors for
Institutional Investors                                                                    capital market
                                                     Establish legal and regulatory
                                                      framework for securities                 Establish legal and regulatory
                                                      companies/subsidiaries, investment        framework for trust business in
                                                      advisory companies, and securities        banks, investment/management
                                                      finance companies.                        trust companies, mutual funds,
                                                     Establish regulatory framework for        venture capital companies, etc.
                                                      banks to establish securities
                                                                                           Establish development finance
Development Finance Institutions                                                           institutions to promote medium and
                                                                                           long-term lending

                                                                                               Establish legal and regulatory
                                                                                                framework for medium-and long-
                                                                                                time export-import credit institution
                                                                                                (e.g. EXIM Bank) and
                                                                                                development finance institutions;
                                                                                                e.g. leveraged leasing
V. Interbank/Money Market

VISION: A money market that                        Phase I                                    Phase II                                      Phase III
enables an inter-bank market that                (2001-2004)                                (2005-2007)                                    (2008-2010)
provides banks, companies, and
individuals with the means for
effective liquidity managing.            Establish the Foundation for             Strengthen Interbank Market                Increase the Depth of Money Market
                                              Interbank Market

Interbank Market Arrangement and    Establish interbank market                Expand the scope of the interbank             Establish an integrated interbank
Scope                               arrangement for the banking sector        market                                        market
                                        Establish interbank market              Establish the framework for an                Allow all financial institutions to
                                         arrangement procedures for               interbank market into allow for the            participate in interbank/money
                                         commercial banks.                        participation of NBFIs, including              market.
                                                                                  insurance companies, etc.
                                                                                 Develop a standardized interbank
                                                                                  RP contract.

Money Market Instruments            Create an enabling environment for        Establish regulations, governing              Establish regulations governing non-
                                    money market development                  financial institutions' instruments           financial institutions' instruments

                                        Establish a negotiable instrument        Adopt procedures and regulations             Adopt regulations for trade bills,
                                         law.                                      for negotiable certificates of deposit        and commercial papers (CP).
                                        Set up a regulatory framework for         (CDs), repurchase agreement (RPs),
                                         interbank/money market activities.        banker's acceptance (BA), etc.
                                                                                  Issue central bank securities (e.g.,
                                                                                   central bank CDs).

Treasury Bills                      Create an enabling environment for        Develop Treasury Bills Market
                                    Treasury Bills
                                                                                  Introduce primary dealer system for
                                        Adopt regulatory framework for the        the government securities.
                                         issuance of Treasury Bills.              Regularize the issuance of Treasury
                                        Issue Treasury Bills through              Bills.
                                         competitive auction.
                                        Capacity building for staff in
                                         National Treasury and NBC who
                                         are involve in Treasury Bill
VI.     Capital Market

VISION: An efficient and transparent                     Phase I                                       Phase II                                   Phase III
capital market with a critical mass of                 (2001-2004)                                   (2005-2007)                                 (2008-2010)
issuers that mobilizes funds for long-
term investment.                          Create an Enabling Environment for             Establish the Foundation for Capital           Development of Capital Markets
                                                    Capital Markets                                    Markets

Legal and Regulatory Framework           Establish key legal and regulatory          Establish a capital market surveillance        Strengthen Capital Market Supervision
                                         framework                                   framework                                      and Surveillance

                                             Establish a master plan for creating         Establish an independent Securities         Upgrade prudential regulations in
                                              a functional capital market                   and Exchange Commission.                     accordance with IOSCO principles.
                                             Conduct a feasibility study to
                                              assess a critical mass of potential
                                              securities issuers.
                                             Adopt s Securities and Exchange
                                             Exchange regulations ( listing
                                              requirements auction rules for
                                              trading, corporate disclosure,
                                              membership, etc.).

Securities Exchange                                                                  Establish securities exchange                  Promote capital market participation

                                                                                           Create Securities Exchange Board            Adopt an incentive system for large
                                                                                           Set up a computerized trading                firms to go public.
                                                                                            system.                                     Adopt corporate governance
                                                                                           Establishment of capital market              guideline for large public
                                                                                            infrastructure: Securities depository        corporations.
                                                                                            system, clearing system, etc.
                                          Phase I                                   Phase II                                 Phase III
                                       (2001-2004)                                (2005-2007)                              (2008-2010)
Fixed income securities   Create an enabling environment for         Promote issuance of public bonds         Develop private bond market
                          public bonds
                                                                         Establish an incentive system to        Establishing regulatory framework
                              Establish regulatory framework for         create demand for government             for corporate bond market.
                               medium-and long-term government            bonds, such as Treasury and other       Establish legal and regulatory
                               bond, and issue Treasury Bond and          Government savings bonds.                framework for the issuance of
                               government savings bond.                                                            bonds of large banks and
                              Establish legal and regulatory                                                      development finance institutions.
                               framework for local government,                                                    Establish bond market
                               public instrumentality, and SOEs to                                                 infrastructure: OTC trading and
                               issue bond and notes                                                                price quotation system.

Capacity Building         Capacity building for future capital       Strengthen capacity building for the     Strengthen capacity building for capital
                          market participants                        public                                   market participants

                              Conduct an intensive capacity             Develop a comprehensive program         Create an association of securities
                               building for capital market                for public awareness activities.         brokers and dealers.
                               regulators through international                                                   Establish a capital market training
                               cooperation.                                                                        institution.
                              Adopt a training program for
                               capital market participants.
VII.    Financial Market Infrastructure

VISION: Legal and accounting                                Phase I                                     Phase II                                 Phase III
systems that promotes the rule of law                     (2001-2004)                                 (2005-2007)                               (2008-2010)
in    commercial     and     financial
transaction    and    support    good
governance        by       promoting          Develop key Legal, Accounting, and         Strengthen Enforcement and Establish          Enhance Financial Market
transparency, accountability, and                Information Infrastructure                           Safety Net                      Infrastructure and Safety Net
Legal Framework for Commercial and
Financial Transactions                    Create key legal infrastructure to             Strengthen law enforcement               Enhance legal infrastructure for private
                                          underpin the financial sector                                                           sector development
                                          development                                        Develop adequate compensation
                                                                                              scheme for commercial jurist.           Establish legal framework for
                                                Adopt a company law, a                      Establish commercial chamber in          public registration system for
                                                 bankruptcy law, a secured                    the court system.                        movables.
                                                 transactions law, etc.                      Establish a public secured
                                                Adopt a civil code and procedure.            transaction system.
                                                Implement a Master Plan for
                                                 judicial reform.
                                                Adopt a law on Organization and
                                                 Function of the Court including
                                                 establishment of commercial

Accounting and Audit Standards            Establish accounting standards and             Strengthen enforcement of                Enhance the enforcement of accounting
                                          enforcement system                             accounting/audit standards               standards

                                                Adopt a law on Corporate                    Promote competition in local            Apply IAS/ISA to private
                                                 Accounts, Their audit and the                accounting industry to encourage         companies.
                                                 Accounting Profession.                       new entry to reduce
                                                Phase-in IAS/ISA.                            accounting/audit compliance costs
                                                Establish an accounting standards            of the private sector.
                                                Establish an association of
                                                 accountants and auditors including
                                                 a committee on Education and
                                                Adopt a Code of Ethics for
                                                Strengthen capacity building
                                                 institution for accounting and audit.
                                              Phase I                                   Phase II                                  Phase III
                                            (2001-2004)                               (2005-2007)                                (2008-2010)

Financial Market Information
Infrastructure                 Create financial market information      Expand the scope of sharing credit         Diversified and enhance information
                               system                                   information                                system

                                   Establish arrangement for sharing       Formalize the membership of the           Introduce a credit rating system.
                                    credit information in the bankers        arrangement for sharing credit
                                    association.                             information to include other credit
                                                                            Automate the arrangement for
                                                                             sharing credit information.

Financial Market Safety Net                                             Enhance the banking sector safety net      Enhance financial sector safety net

                                                                            Introduce a deposit insurance             Expand deposit insurance system
                                                                             system for the banking sector.             into other credit institutions who
                                                                            Adopt corporate governance                 participated in the payment system.
                                                                             guideline for banks.                      Adopt corporate governance
                                                                                                                        guideline for non-banking

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