Financial and banking reforms have become increasingly crucial elements of economic reforms in the emerging market economies, with the rapid globalization of financial and banking systems, massive capital flows across countries, implications of the Global Financial Crisis, and the regulatory changes underway in the global financial world.

A new focus on financial sector stability is reflected in a range of recent developments, such as the development of the Financial Stability Board, international (Basel) standards for financial institutions and the related Reports on Observance of Standards and Codes (ROSC) as tools to prevent crises, and promote economic and financial development.

At Centennial Group, our Financial and Banking Sector practice helps governments, multilateral institutions and private financial houses respond to the opportunities, challenges and risks posed by these developments, in many cases to complement the financial sector assessment programs of the multilateral financial institutions, such as the IMF, World Bank, and the AsDB.

Our Financial Markets and Banking Expertise

We take a holistic view of global financial markets and banking, providing services that include:

• Identification and analysis of financial sector risks, vulnerabilities, the sector’s overall stability, and development needs.
• Authoritative analysis of the regulatory and institutional environment through the observance of International Standards, Codes and Guidelines on financial system supervision, market practices, and financial infrastructure.
• Design and implementation of sequenced strategies for domestic financial system development and its integration with global financial markets.
• Independent and authoritative assessments, including assisted self-assessments and pre-assessments of the observance of international standards, codes, guidelines and best practices in financial sector supervision (banking, insurance and securities markets); financial market infrastructure (legal and institutional framework, anti-money laundering and countering, terrorism finance, payment systems, insolvency regimes, safety nets, and systemic liquidity arrangements); financial sector governance (transparency, accounting and auditing regimes); and developing action plans to meet international standards and best practices.
• Central Banking policies, including monetary and exchange policy and operations (e.g. inflation targeting, monetary union issues, development of market-based instruments, etc.), payment settlement systems, central bank accounting and auditing.
• Development of Financial Stability Analysis capabilities of central banks and supervisory agencies.
• Identification of strategies and policies to enhance the reach and efficiency of domestic banking systems.
• Islamic Banking and finance-risk management, supervision, and product design.
• Micro-finance and access to financial services by small and medium industries.
• Advice and technical assistance in development of domestic and regional capital markets and contractual saving institutions (pension systems, insurance, collective investment vehicles, etc.).
• Advice and technical assistance in financial sector governance issues, including transparency, accounting and disclosure, and institutional structures (e.g., demutualization, unification of supervision) for effective governance.
• Advice and technical assistance in accessing foreign finance, including capital account opening and the related financial policy sequencing issues.
• Analysis of regulatory and institutional developments and its impact on the private sector, and assessments of financial policy environment and financial system risks and vulnerabilities in key countries to support private sector decision-making.
• Assessment of countries’ resilience to external and domestic shocks, and identification of actions necessary to enhance resilience.
• Promotion of inclusive finance.

Our Team

Meet the principal(s) that lead our Global Financial Markets and Banking assignments: