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. Link

Some of the goal of the Corporate Plan as listed above has just been accomplished through the transformation of BPA to Banco Central de Timor-Leste (BCTL) on 13th September, 2011.