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Mission | History | Vision | Organization |
Currency | Institutional Value|
Code of Conduct
Our Mission
The Banking and Payments Authority performs the functions of
a monetary authority. According to the Constitution it will
be succeeded by the Central Bank of Timor-Leste. The BPA
enjoys legal, operational, administrative, and financial
autonomy. It operates with the highest standards of
transparency and accountability.
The success
of the BPA as leading institution in institutional and
capacity building is expressed in its mission statement "to
be a central bank staffed by a professional team that
strives to continuously improve the quality of our services
to our stakeholders by maintaining a sustainable monetary
system with low inflation; ensuring that payments systems
are efficient and effective; promoting a safe and credible
system of financial institutions; communicating and
providing information; undertaking sound economic research
and analysis; by developing the necessary organizational and
technical capacities"
History
The BPA is a successor to the Central
Payments Office (CPO), both of which were
created by the UNTAET (United Nations
Transitional Administration of East Timor)
Administration that administered the country
from October 1999 to May 2002. The BPA was
created on 30 November 2001 by UNTAET
Regulation 2001/30.
The enabling
Regulation set the organization of the BPA which have a
Governing Board, a management and a staff. The Governing
Board is the highest organ in the Institution and is
responsible to formulate policies for the operation of the
PA and supervise their implementation. The Board composed of
composed of seven members, appointed by the Prime Minister
and comprised of the Chairman, the General Manager, the
Deputy General Manager for Supervision and the Deputy
General Manager for Payments, and three other members.
Currently, the Governing Board is chaired by Mr. Abraão de
Vasconselos, the General Manager.
The BPA has
established effective relationships with central banks in
neighboring countries, and in the Community of
Portuguese-speaking Countries (CPLP), of which Timor-Leste
is the most recent member. .
Vision
The BPA’s vision is “to be a credible leader in preserving price stability to foster economic development in Timor-Leste.”
Organization (organization chart)
The BPA structure is comprised of three
Departments: the Department of Financial
System Supervision, the Department of
Payments, the Department of Administration
and the Department of Petroleum Fund; three
independent Divisions: Accounting and
Budget, Economics and Statistics, and
Information Technology; and three
specialized supporting Offices: the Legal
Office and the Internal Audit Office.
Currency
The US dollar
is the legal tender in Timor-Leste. All denominations of US
banknotes and coins circulate in the country. The BPA issues
national coins as sub-units of the US dollar in
denominations of 1, 5, 10, 25 and 50 cents.
More...
Institutional Value
The institutional value of the BPA is
Transparency,
Integrity,
Mobilization,
Ownership and
Responsibility.
Read More....
Code of Conduct
All persons who have contractual obligations
with the BPA shall at all times adhere to
the policies set out
in the code of conduct.
Read Full detail... |
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