Signing of Cooperation Agreement between BCTL and Insurance and Pension Funds Supervisory Authority from Portugal

teste carvalho@goweb.pt https://www.bancocentral.tl/uploads/seo/big_1436805856_8449_button_accept.png
Parede Informasaun

Signing of Cooperation Agreement between BCTL and Insurance and Pension Funds Supervisory Authority from Portugal

Signing of Cooperation Agreement between BCTL and Insurance and Pension Funds Supervisory Authority from Portugal 27 | 05 | 2016
Dili, May 27 2016

On 23 May, Banco Central de Timor-Leste (BCTL) signed a Cooperation Agreement with the Insurance and Pension Funds Supervisory Authority (ASF) from Portugal. The ceremony was held at BCTL’s head office in Dili and the agreement was signed by Banco Central’s Governor, Mr Abraão de Vasconselos and the Chairman of ASF, Mr José Figueiredo de Almaça.

The agreement establishes a general framework for cooperation between both entities as national insurance supervisory authorities, and is aimed to increase and reinforce cooperation in all relevant fields with special attention to the activity undertaken in insurance supervision.

Following the signing of the agreement ASF’s delegation, comprising its president, Mr José Figueiredo de Almaça and Mr Rui Ribeiro, Director for Market Conduct Supervision and Institutional Relations, presented two days of training sessions for BCTL staff on the topics of financial stability, risk, regulation of insurance and pension funds in Portugal and consumer protection.

The Governor of BCTL, at the end of the 3-day visit, stressed the significance of the agreement and the importance of Timor-Leste being able to count on the support of reputable and quality institutions such as ASF for developing the qualifications and worth of national professionals. He highlighted the excellent relationship that exists between the two institutions as well as the special relations between the two countries, Portugal and Timor-Leste. The Governor thanked ASF and its President for making themselves available in the spirit of friendship and congratulated all involved on the success of the initiative.