MADISON, Wis. - The World Council of Credit Unions (WOCCU) has received a $170,000 (U.S.) grant from the British Know How Fund, a program of the Department for International Development, to enhance the safety and soundness of an emerging Moldavian credit union system in eastern Europe. Over the course of a one-year project, WOCCU will provide technical assistance for strengthening the Moldavian State Supervisory Service of the Savings and Credit Associations of Citizens (SCACs). The project is intended to further develop and strengthen the legal, regulatory and supervisory framework that supports SCACs. Specifically, WOCCU will work with the State Supervisory Service (SSS) to design and implement an examination system; review SCAC legislation and recommend changes that encourage safety and soundness; assist in the development of norms, standards and rules consistent with the banking system and cooperative principles of a savings and credit union system; and develop a business plan for the SSS to set up parameters for development adequate capacity to supervise 350 to 400 SCACs.
World Council receives grant to strengthen Moldavian CU system
Comments
Resource Center
View All »How Enterprise Software Helps Financial Services Firms Improve Efficiency and Reduce Costs
This white paper describes how enterprise software solutions, when built on a flexible and adaptable technology platform, can help financial services firms streamline workflows, consolidate...
Getting Ready for IFRS
This white paper describes how your company can make the transition to IFRS in a timely and cost efficient manner as well as what your...
