IMF Staff Country Reports

Samoa: Assessment of Financial Sector Supervision and Regulation including Report on the Observance of Standards and Codes on Banking Supervision

June 29, 2007

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Samoa: Assessment of Financial Sector Supervision and Regulation including Report on the Observance of Standards and Codes on Banking Supervision, (USA: International Monetary Fund, 2007) accessed September 18, 2024

Summary

This assessment of Financial Sector Supervision and Regulation for Samoa provides an overview of legal and institutional frameworks. Compliance with the Basel Core Principles (BCPs) for the supervision of international and domestic banks has improved considerably. Supervision of domestic banks should be strengthened further through issuance of additional guidance on banks’ risk-taking activities and corporate governance. Consideration should be given to enhancing the operational independence of the Samoa International Finance Authority (SIFA) to supervise international banks.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Bank supervision, Banking, Crime, Financial institutions, Financial regulation and supervision, Financial services, Foreign banks, International banking, Offshore financial centers

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Asia and Pacific, Authority, Bank, Bank supervision, Banks' compliance, CBS's relationship, CFT regime, CR, Domestic bank, Foreign banks, IBA to SIFA, ISCR, Legal power, Lending, Offshore bank, Offshore financial centers, Responsibility of the Samoa International Finance Authority, Samoa, Shell bank, SIFA personnel, SIFA's function

Publication Details

  • Pages:

    31

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2007/221

  • Stock No:

    1WSMEA2007003

  • ISBN:

    9781451840759

  • ISSN:

    1934-7685