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This Corporate Plan sets out a strategic direction for
the Banking and Payments Authority of Timor-Leste (BPA)
for the period through to 2007. The Plan describes the
way in which the institution undertakes her
responsibilities and identifies her main functions and key
objectives in a manner intended to improve her corporate
effectiveness and transparency.
With the anticipated passing of a Central Bank law in the
short term, we hope that the publication of this Plan will
improve the community’s understanding of our role, and
later, the role of the new central bank.
The Plan is built on our legislated mandate and the
National Development Plan which outlines the initiatives and
strategies that we intend to introduce during the next three
years to fulfill our role, including performance indicators
that can be used to measure our progress.
We have identified several important tasks ahead: the
conversion of the BPA into a central bank, the introduction
of a supervisory regime for the nascent insurance industry,
and the adoption of a legal framework to bring the Timorese
economy in line with international financial standards by
proposing laws, for example to combat money laundering, and
provide a proper legal foundation for payment
transactions.
The preparation of this Plan is a significant development
for the BPA. The BPA was founded in mid-2000, then known as
the Central Payments Office, and was transformed into the
BPA in November 2001, and will, in the third phase of the
original vision, become Timor-Leste’s Central Bank.
For comprehensive corporate plan which covers the
period between 2004- 2007, please
click here |
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