The Governor of the Bank of Mauritius (BOM), Mr Rundheersing Bheenick, has been elected as the non-Financial Stability Board (FSB) member co-chair of the FSB Regional Consultative Group (RCG) for Sub-Saharan Africa.
Mr Bheenick is succeeding to the Central Bank of Kenya Governor, Mr Njuguna Ndung’u, and he will serve alongside Deputy Governor Mr Lesetja Kganyago of the South African Reserve Bank, for a two-year term as from July 1st.
The FSB has as major role to develop and promote the implementation of effective regulatory, supervisory and other financial sector policies in the interest of financial stability. It also envisages creating regional consultative groups to broaden the circle of countries to provide input to FSB deliberations.
Currently the FSB regroups national authorities responsible for financial stability in 24 countries and jurisdictions, international financial institutions, sector-specific international groupings of regulators and supervisors, and committees of central bank experts.
As for the RCG for Sub-Saharan Africa, it was established by the FSB in 2011 to serve as a platform to discuss FSB initiatives and financial stability issues and for non-members to provide input on the FSB’s workplan and policy priorities. In August 2011, Mauritius was invited to join the RCG for Sub-Saharan Africa, one of the six regional groups set up by the FSB covering different parts of the world.
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