Domestic Financial Markets Development and Foreign Exchange Operations

 

Background

Financial markets are the cornerstone of an economy, providing efficient allocation of resources. Further, well-developed financial markets promote savings and investments and balanced economic growth. Consequently, financial market regulators work in concerted effort to ensure the development of the financial markets.

 This course serves as an introduction to the development of both money and capital markets. It highlights definitions, interactions between markets, functions and roles and the key role of all players. Further, the course delves into the building of a benchmark bond programme and touches on digital financial services in the domestic financial markets.

 Objectives

  • To provide participants with the relevant knowledge on the development of  money and capital markets;
  • To highlight the role of government and regulators in developing and implementing financial market policies and regulations in money and capital markets; and
  • To equip participants with quantitative skills on the pricing of money market instruments and bonds.

 Course Content

  • Building blocks for the development of domestic financial markets;
  • Development of the money markets;
  • Development of the capital markets – both debt and equity.
    • Building a benchmark bond programme
    • Reforms and Innovation in the domestic financial markets
      • Digital financial services
      • Pension and life assurance reforms

Background

Development of the domestic financial markets in the MEFMI region remain hampered by financial market impacting laws which are not current and which are not harmonised. This results in a protracted period of analysis and review with numerous back and forth as various integrated laws are addressed at different times of market development. This slows down the process of domestic financial market development and constrains market at a nascent development stage.

Objectives

The workshop will review the domestic financial market legal instruments which enable money market and debt market development. This will include legal instruments which enable innovation and provide risk mitigation for the entire market. Some of these legal instruments include global master repurchase agreement, insolvency law, netting arrangements, sovereign debt issuance law, disclosure requirements etc. The workshop will focus on the practical application of the review and harmonisation of all legal instruments relating to money market and debt market.

Fundamentals of Financial Markets