The National Payment Systems Oversight Framework for the Maldives Monetary Authority

World Bank Group

World Bank, Washington, DC

关键词: PAYMENT AND SETTLEMENT SYSTEM;    SYSTEMIC RISK;    FINANCIAL OVERSIGHT;    INTERNATIONAL FINANCIAL STANDARDS;    REGULATION;   

RP-ID  :  142673

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This report aims at assisting MaldivesMonetary Authority (MMA) to establish an effective oversightframework to monitor the different payment and settlementsystems, payment instruments and payment service providersin the Maldives. The framework for oversight is based on theBank for International Settlement-International Organizationof Securities Commissions (BIS-IOSCO) 24 principles andanalyzing the payments development in the Maldives, whileemphasizing the importance of overseeing several criticalaspects of payment systems which are not within the radar ofthe present oversight unit. The BIS-IOSCO principles thatare specifically on oversight function are set out insection one. Section two discusses the background and thepresent payment landscape, legal status, and criticallyreview the present oversight arrangement by MMA, its mandateand suggest areas of improvement for an improved andeffective oversight function. Section three outlines thepresent and future challenges for payment and settlementoversight unit (PSSOU) and provides guidelines to overcomesome of the challenges. Section four sets outrecommendations to be adopted by PSSOU and section fivearticulates the most urgent tasks that should be undertakenby PSSOU and MMA to ensure an effective oversight on thenational payments system (NPS) in the Maldives.