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International Assistance

The International Advisory Group (IAG) of the Office of the Superintendent of Financial Institutions was created in 2001 to assist selected emerging market and developing economies in enhancing their regulatory and supervisory system, in line with international banking and insurance supervisory standards. The costs for this program are recovered via Memoranda of Understanding between OSFI and the Canadian International Development Agency. In 2009–2010, the group included four technical staff (including the group head) and one program coordinator.

During 2009–2010, IAG delivered bilateral or multilateral programs, sometimes in partnership with other technical assistance providers, in 30 different jurisdictions. In some cases the training was provided directly to qualifying regulatory agencies. In other instances, IAG delivered regional training programs in partnership with other organizations, such as: the Financial Stability Institute; the International Association of Insurance Supervisors; the Caribbean Regional Technical Assistance Centre; the South East Asian Central Banks Research and Training Centre; the Toronto Leadership Centre for Financial Sector Supervision and the Association of Supervisors of Banks of the Americas.

In total, IAG delivered or participated in 47 programs that provided technical assistance to over 1,500 participants in 2009–2010. The following 19 jurisdictions benefited from IAG technical assistance by hosting programs in 2009–2010: Antigua, Barbados, Dominican Republic, Ecuador, El Salvador, Ghana, India, Indonesia, Kazakhstan, Malaysia, Mexico, Nicaragua, Nigeria, Nepal, Peru, South Africa, Thailand, Uruguay and Vietnam.

OSFI supported the Toronto International Leadership Centre for Financial Sector Supervision by participating on the Board of Directors and providing resources, most notably Program Leaders and Presenters, to assist with the delivery of programs. Through the Centre, individuals with substantial experience in financial supervision from Canada and abroad help supervisors acquire the knowledge and leadership skills to build effective supervisory regimes in their countries.

Insurance Supervision Workshop

Insurance Supervision Workshop

OSFI’s Arvind Baghel and Jean Sarazin are pictured during the February 2010 Insurance Supervision Workshop held in Hyderabad, India.