The Project supports Myanmar´s ambitious economic and political reforms that aim to transform Myanmar into a modern economy, including the reform of its financial sector through the Financial Sector Development Strategy for 2015–2020.
The Central Bank of Myanmar (CBM) is leading the financial reform agenda, which requires capacity building of CBM staff in central banking functions and financial sector development. Moreover, capacity building for the non-bank financial sector regulators and supervisors (Ministry of Planning and Finance (MOPF) through the Financial Regulatory Department (FRD)) needs to be increased to ensure a sound, diversified and inclusive non-bank financial sector, which consists mainly of insurance companies and microfinance institutions.
Subsequently, the Project addresses these challenges by supporting CBM in establishing a dedicated Training Centre to provide a mechanism for long-term, continuous training for the financial sector in the area of central banking topics.
Benefitting from Frankfurt School´s outstanding track-record as a training institute and partner to central banks, our experts designed a long-term business and financial plan to establish the Myanmar Financial Sector Training Centre (MFSTC) and help it through the initial years of operations. To meet this objective, Frankfurt School experts delivered a series of workshops on strategic planning for the top and middle level management of CBM and FRD. MFSTC will be anchored within the CBM and will serve as a platform to offer continuous training in the area of central bank related themes for the entire financial sector.
In addition, Frankfurt School experts developed training curricula that provides detailed and comprehensive modules to train CBM and FRD staff, as well as other participants of the financial sector. These materials address competency and knowledge gaps and aim to provide systematic and comprehensive capacity building suited to Myanmar`s context. Themes include core central banking topics such as: Monetary Policy, Payment Systems, Financial Regulation, Supervision, as well as managerial and leadership topics