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Sunday, March 20, 2011

World Bank recruits 300 practicians to promote financial stabilit

Jakarta (ANTARA News) - The World Bank and the International Finance Corporation (IFC) had recruited 300 practicians in financial infrastructure from 90 countries for the promotion of global financial security and stability.

The World Bank said in Jakarta recently that the new financial system is expected to mitigate the financial crisis in the future and increase financial services for households and business people.

The World Bank recruited the practicians in the Financial Infrastructure Week to enable them to discuss three important areas of the financial infrastructure.

The three are the system of payments and remissions, reporting credits, and safe transactions.

The practicianers also discussed what need to be done by national authorities, private sector, and other functioners in developing the financial market infrastructure.

The World Bank said the global financial infrastructure is the backbone of every economic financial system everywhere.

The quality of the financial infrastructure of any country determines the efficiency of intermediation, the ability to give loans for risk evaluation and those who received the loans for credits and other financial products on a competitive basis.

In this way, a safe and efficient financial structure will provide stability for the global financial system.

He also mentioned the need for emphasis not only to create a just competitive market condition but also in the development of a collaborative ecosystem where growth could be achieved while at the same time security and efficiency of the financial system.

In the course of the Financial Infrastructure Week, a new international standard will also be forwarded and consulted. (*)

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