PROMOTING FINANCIAL MODERNIZATION IN SOUTH-EAST EUROPE THROUGH PUBLIC-PRIVATE PARTNERSHIPS



Given SPI’s single-minded implementation orientation, we monitor enactment activities that take place after SPI Committee endorsement of a Project Working Group proposal very closely. Although enactment activities are not under the SPI control, we believe that transparency helps create accountabilities for results under the modernization program.

Enactment Monitoring and Self-Regulatory Actions Monitoring Timeline
ProjectCountrySPI Committee EndorsementCommunication to Relevant AuthorityLast Follow-up ActionActual Enactment
Anti-Money Laundering Law Amendment Romania April 27,2007 May 14,2007 - Ministry of Justice October 4,2007 December 2007
Law on Checks Amendment Romania April 27, 2007 April 27, 2007- Ministry of Economy and Finance sends to National Bank of Romania for endorsement October 25, 2007 March 2008
Law on Drafts and Promissory Notes Amendment Romania April 27, 2007 June 13,2007 -Ministry of Finance sends to National Bank of Romania for endorsement October 25,2007 January 2008
Law on Safety Amendments Romania December 20, 2006 June 12, 2007- Ministry of Internal Affairs Endorsement September 20, 2007 December 2007
Ombudsman Romania April 27, 2007 June 13, 2007 September 12, 2007 November 2007
Positive Information Sharing Romania December 20, 2006 January 16, 2007 October 24, 2007 November 2007
IFRS Albania November 4, 2008 November 6, 2008- Bank of Albania Supervision Department Analysis November 2008
Auction Procedures- Civil Procedure Code Amendment Albania November 4, 2008 November 13, 2008- Regulatory Impact Assessment sent to Parliament December 2008
Auction Procedures- feedback to draft Law on Private Bailiff and Recommendations on Public Bailiff Albania November 4, 2008 November 7, 2008- PWG contributions sent to Ministry of Justice December 2008
Enhancing Bank’s Liquidity Risk Management Albania N/A N/A August 2009 October 2009

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