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| Volunteer Catherine Hanks (right) leading consultations on segregations of accounts at securities companies |
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FSVC Board Member Kenneth Dam meeting with Montek Singh Ahluwalia, Deputy Chairman, Indian Planning Commission. |
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FSVC Volunteer Cheryl Cothren of BB&T meets with Indonesian bankers from Bank Mandiri, during a training seminar on commercial lending. |
Jordan - 2003-2010
FSVC’s activities in Jordan over eight years covered a large spectrum of activities for both private and public sector entities. Between 2003 and 2010, FSVC operated multiple programs of assistance in Jordan supporting government and private sector entities. The Middle-East Peace Initiative (MEPI) funded work to strengthen the Central Bank of Jordan’s capabilities in bank supervision, deposit insurance, and bank examination as well as assisting Jordanian commercial banks on SME lending, risk management, and strategic planning. Subsequently, FSVC expanded its overall program in Jordan at local request and entered a Global Development Alliance (GDA) with USAID in Jordan, and three capital market counterparts. Between 2008 to 2010, this GDA promoted the development of the Jordanian capital markets by strengthening oversight capacities, expanding the range of trading products and practices available, and improving the overall environment for investment.
India - 2005-2008
FSVC entered two multi-year Global Development Alliances with USAID and local funders in India. FSVC's overall program focused on strengthening the ability of the banking sector to provide funding to areas targeted by the Government of India (GOI) as priorities for economic growth and poverty alleviation. Each project was individually crafted to meet the development needs of Indian public and private sector banks, and financial institutions as they rolled out expansive lending programs to improve the Small and Medium Enterprise (SME) sector's access to finance; helping the banks meet their SME loan portfolio growth target of 20% per year. Working with India's largest banks, FSVC's Volunteer experts brought real-time consultancy and market tested solutions to senior-level counterparts to help them build their SME business and supporting infrastructure and competencies. Key areas covered included the development of products, risk management, credit scoring and community banking systems. FSVC's program additionally focused on Anti-Money Laundering and Basel 2, connecting Indian counterparts to FSVC experts who had implemented and developed those systems in banks and financial institutions throughout America, Asia and Europe.
Indonesia - 2002-2006
FSVC provided technical assistance in Indoensia during a critical stage in the country's economic history following the Asian financial crisis in the late 90's. Between 2002 and 2006, FSVC's technical assistance to Indonesia focused on strengthening the country's financial systems, Anti-Money Laundering (AML) and banker training. During the program, FSVC Chairman Paul Volcker met several times with then-President Abdurrahman Wahid and his successor Megawati Sukarnputri to help Indonesia overcome its financial and economic difficulties and to enter a new era of growth and prosperity. As the world's most populous Muslim majority nation, Indonesia's profile in the AML sphere increased following the events of September 11, and its removal from the FATF blacklist in 2001. FSVC's programs supported the development needs of critical AML players in-country, including the Indonesian Center for Financial Transactions Reporting and Analysis (PPATK), Bank Indonesia, and several commercial banks. Projects held both in Indonesia and the U.S. included efforts to refine Indonesia's AML Law during critical points in its drafting, training on Know Your Customer, detecting suspicious activity, developing the investigative capabilities of PPATK, and building the technology within banks to monitor and report suspected money laundering. FSVC also worked with the largest commercial bank, Bank Mandiri, bringing over 50 Indonesian bankers to the U.S. for classroom training and two-week internships that offered them first-hand knowledge of U.S. commercial bank practices in SME lending and consumer lending.
