Financial Sector Management Programme Conducting Retreat for Heads of Financial Markets

The Financial Sector Management Programme is conducting a retreat for Heads of Financial Markets, from 1 – 3 September 2014 in Maputo, Mozambique. The retreat is being attended by heads of financial market departments at central banks, senior central bank officials responsible for monetary policy implementation, supervisory and legal issues and senior officials from the ministries of finance and or economic planning responsible for domestic market policy formulation.

Financial market integration fosters financial development, which in turn creates the potential for higher economic growth.  Financial market integration stimulates competition and market expansion, it enables the realisation of economies of scale and increases the supply of funds for investment opportunities which in turn leads to financial development. Consequently, financial development can result in efficient capital allocation as well as a reduction in the cost of capital. The region needs deep and integrated financial markets in order to reap gains in efficiency and productivity, which result in faster development and growth rates. Integration can occur through the removal of restrictions on trade in financial assets, and many countries in the region have embarked on domestic financial sector reforms with the objective of bringing their domestic economies in line with the emerging trend towards regional financial market integration.

The retreat will offer a unique opportunity for policy makers and market participants to share and contribute on critical issues impacting on financial market integration in the region.

At the end of the retreat, participants should be able to come up with policy proposals and legal reform suggestions to encourage the integration of the regional financial markets.