Algeria: Launch of Program to Strengthen Fiscal
Transparency and Oversight
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FSVC is excited to announce the launch of a new program in Algeria funded by the U.S. Department of State’s Bureau of Economic and Business Affairs and the U.S. Embassy in Algeria. This program will promote greater fiscal transparency in Algeria through more effective oversight of the national budget and enhanced access to budgetary information.
Algeria recently underwent a major political transition and initiated reforms to strengthen governance, and improve the transparency and accountability of government institutions.
In this context, FSVC will help build the capacities of the Algerian Supreme Audit Institution (Cour de Comptes) to implement audit policies and procedures, and strengthen the Ministry of Finance’s budget disclosure and accounting capabilities. This program will help address citizens’ demands, and respond to the economic impact of decreasing oil prices and the COVID-19 pandemic.
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Help support FSVC’s critical work to improve lives in developing and emerging market countries. Make a tax-deductible donation to FSVC today!
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Democratic Republic of the Congo: Training for the Financial Intelligence Unit in Data Security
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CENAREF Participants during FSVC’s Training
Kinshasa, Democratic Republic of the Congo, December 2021
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In the Democratic Republic of the Congo, the Financial Intelligence Unit (FIU), known as CENAREF, is in the process of moving out of its current office in the Central Bank to its own independent space. To ensure the FIU is equipped to set up strong data protection and security mechanisms in its new office, FSVC conducted training in November, December and January for 26 FIU staff in data security.
During the training, the FSVC experts guided participants through best practices in data protection, information technology security and protocols of access to sensitive information. The FSVC team also presented potential risks, vulnerabilities and threats, and how to mitigate them with strong data security policies and procedures. As a result of this training, the FIU has drafted a data security action plan, which will help the institution address potential security risks with practical steps.
This activity was implemented with funding from the U.S. Department of State’s Bureau of International Narcotics and Law Enforcement Affairs.
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Jordan: Interview with FSVC Volunteer Expert Peter Deegan on Strengthening Money Laundering Investigations
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FSVC Volunteer Expert Peter E. Deegan (second from the right) with Judicial Institute Staff
Amman, Jordan, November 2021
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With funding from the U.S. Department of State’s Bureau of Counterterrorism, FSVC is assisting Jordan in improving the country’s capability to investigate, prosecute and adjudicate terrorism financing, and address weaknesses identified in the 2019 Financial Action Task Force (FATF) Mutual Evaluation Report. As a part of this effort, FSVC volunteer expert Peter E. Deegan, former United States Attorney for the Northern District of Iowa, held a workshop for 13 trainers at the Judicial Institute of Jordan in November 2021. Mr. Deegan shared his experience as an FSVC volunteer expert.
Why did you choose to become an FSVC volunteer expert?
It looked like a very interesting and worthwhile opportunity. I was in public service in the United States for almost 23 years and recently joined the private sector. I think strengthening financial systems around the world is worthwhile and this was a way for me to continue contributing to the broader community after working in public service.
Could you please tell us about the project you recently conducted in Jordan?
It was a train-the-trainer workshop in which I and two former U.S. law enforcement agents were tasked with sharing our knowledge in money laundering investigations. The participants from the program were very experienced Jordanian judges and public prosecutors. The goal was to better equip them to conduct more robust investigations to combat money laundering and terrorism financing in Jordan, using the new law in that area.
What would you tell someone who is considering becoming an FSVC volunteer expert?
It is a great way to help other countries and other communities in a very meaningful way. It is also a powerful approach to build community and goodwill at an international level. It is wonderful to be able to interact with folks overseas, learn more about the types of problems they are facing and hopefully make some contribution.
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FSVC Webinar with Citi Executive Akin Dawodu on Economic and Political Developments in Sub-Saharan Africa
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Akin Dawodu, Cluster Head for Sub-Saharan Africa, Citi
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On December 8, FSVC held a virtual roundtable discussion with Akin Dawodu, Cluster Head for Sub-Saharan Africa at Citi, to discuss economic and political developments across the region, the impact of Covid-19 on the economies of Sub-Saharan Africa, and strategies for increasing access to finance for underbanked populations. Andy Spindler, FSVC President & CEO, hosted the discussion, in which FSVC Board members, global staff and invited guests took part.
During the webinar, Mr. Dawodu gave an overview of the work in which Citi is engaged in Sub-Saharan Africa. Citi has extensive operations in East Africa and West Africa, and is involved in an additional 21 countries across Sub-Saharan Africa where it does not have a physical presence. Mr. Dawodu also discussed some of the impacts of the COVID-19 pandemic on the region, including the heavy cost of the early lockdowns in 2020 on vulnerable people working in the informal sector. This caused strong resistance against future lockdowns. Mr. Dawodu also emphasized challenges in financial inclusion and access to finance for small businesses, as well as risks associated with corruption, cronyism and patronage.
FSVC’s work across sub-Saharan Africa aims at tackling many of these same systemic issues and equipping local stakeholders to strengthen governance, transparency and inclusion. FSVC values its collaboration with Citi to promote sustainable financial sectors across the emerging market world.
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About Us
The Financial Services Volunteer Corps (FSVC) is a not-for-profit organization that helps strengthen financial sectors in developing and emerging market countries. It does so with the ultimate aim of promoting job creation, economic growth and a better quality of life. FSVC structures practical, results-oriented technical assistance and training missions staffed by senior financial sector professionals who serve as unpaid volunteer experts. Over the past 32 years, more than 10,000 volunteer experts from the international financial, legal and regulatory communities have taken part in 3,400 missions, impacting millions of people in 70 countries.
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