Dhaka, Bangladesh (BBN)- The 29th SEANZA (South East Asia, New Zealand, and Australia) Central Banking Course began in the capital Dhaka on Sunday morning aiming to ensure financial stability through capacity building among regulators and central bankers.
“Mutual efforts to promote the practice of information sharing and capacity building among regulators and central banks should be ongoing, and will definitely help strengthen their competencies for better macroeconomic management and financial stability, perhaps even preventing these crises altogether,” SK Sur Chowdhury, deputy governor of the Bangladesh Bank (BB), said while inaugurating the five-day course.
The SEANZA is a regional forum comprising 20 central banks and four financial service regulatory authorities. The Forum was formed in 1956. It is one of the oldest and largest regional central bank groups, established to promote cooperation among central banks by providing intensive and systematic training courses for central bank staff.
Mr. Sur, also chairman of the SEANZA Forum of Banking Supervisors, said banks in many countries are suffering a lot due to their high degree of interconnectedness and investments in complex financial derivatives.
“Moreover, changes in regulatory requirements, continuing rapid development of the financial environment and infrastructure, as well as economic cycles, have all played their roles in propelling the aftermath of the global financial crisis into the creation of a broader and deeper financial system and regulatory regime,” the deputy governor noted.
Twenty overseas participants from 13 countries are taking part at the course. The countries are China, Korea, Indonesia, Macau, the Philippines, India, Malaysia, Nepal, Iran, Fiji, Germany, Sri Lanka, and Papua New Guinea.
Besides, 20 senior officials from the BB are participating the course.
Dr. Peter Sinclair, emeritus professor of the Birmingham University, also spoke on the occasion.
BBN/SSR/AD-24Aug14-12:45 pm (BST)