Program areas at Financial Services Volunteer Corps
State department program in somalia: with funding from the u.s. department of state's bureau of counterterrorism, fsvc has been implementing a program of technical assistance since 2015 to help strengthen the Financial sector in somalia and its ability to intermediate effectively Financial flows. Fsvc's program aims to support the central bank somalia (cbs)'s efforts to address the critical Financial sector reforms to adhere to the recommendations of the Financial action task force, and allay concerns of international regulatory bodies. In 2019, fsvc completed a series of 10 long-term and short-term projects, including helping the cbs improve its capacity to conduct anti-money laundering/combating the financing of terrorism (aml/cft) supervision of money transfer businesses (mtbs) and several trainings for mtbs themselves in mogadishu and baidao in how to improve their aml/cft compliance in key areas such as know-your-customer procedures and identifying suspicious activities. Fsvc also expanded its work to cover banks.
Usaid program in albania: with funding from the u.s. agency for international development, fsvc implemented 21 projects in 2019 under its Financial sector development program in albania. This program aims to promote Financial stability in albania, thanks in part by improving the quality and consistency of Financial sector regulation and supervision. Projects in 2019 included helping the albanian Financial supervisory authority enhance its insolvency/liquidation procedures for insurance companies; and assisting the bank of albania in upgrading its credit registry and exploring the feasibility of introducing instant payments in albani helping municipalities identify datasets they can disclose to the public on fsvc's open data platforms; working with public and private sector representatives from the agricultural and municipal sectors to identify useful datasets to be disclosed in open data forms; and launching informini.org access-to-information platform in french and arabic. In 2019, fsvc Volunteer experts donated a total of 761 hours to the tunisia program.
Usaid program in niger: with funding from the u.s. agency for international development, fsvc launched a program in july 2019 focused on three key objectives: 1) helping civil society organizations (csos) more actively and effectively hold the government accountable and build demand for targeted policy reforms and improved government implementation; 2) assisting key government institutions in becoming more accountable to citizens, and more effective and transparent in their operations; and 3) creating and/or strengthening constructive engagement spaces between citizens, civil society and the government to identify and implement targeted priority reforms. In 2019, fsvc completed a series of 5 long and short-term projects that included selecting scoc in niamey to take part in fsvc's cso incubator program; and conducting a series of key assessments, including a political economy assessment, a cso assessment, and a policy reform assessment.