Financial Sector Development

Financial Sector Development

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Banco Central de Timor-Leste (BCTL) launched the Master Plan for Financial Sector Development in Timor-Leste on 28 August 2014 by Mr. Abraão de Vasconselos, Governor of Banco Central de Timor-Leste. The Master Plan provides a comprehensive road map for the development of the financial sector over the decade to 2025. It commences with a stock-take of the financial sector as it was in late 2013.

From that starting point, the Master Plan sets out some principles that underpin financial development, and provides an agenda to be progressed over the next decade or so. Particular attention is given to achieving greater financial inclusion, and to developing the capacity in Timor-Leste of the providers, users and regulators of financial services. The Master Plan also sets out an implementation agenda, spanning the short-term (2014-2015), medium-term (2015-2020) and longer-term (2020-2025). BCTL will be monitoring progress in implementing the Master Plan, including by way of publication of an annual Financial System Report, commencing in 2015.