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May 22, 2009
March 2012 This publication was produced for review by the United States Agency for International Development. It was prepared by AECOM International Development.
USAID Iraq Financial Development Project Second Quarterly Report, FY2012 March 31, 2012
Prepared under USAID contract number: 267-C-00-10-00005-00 Submitted to:
USAID/Iraq Prepared by:
AECOM International Development
AECOM Principal Contact:
Shannon McCafferty Engagement Manager AECOM International Development 2101 Wilson Blvd, Suite 700 Arlington, VA 22201 Tel: 1-703-465-5875 or 1-703-522-7444 Email: [email protected]
In Iraq:
Rick Smith AECOM Chief of Party USAID/Financial Development Project Mansour Compound Al-Amarat Street Al-Mansour District Baghdad - Iraq Tel: +0780 913 2060 Email: [email protected]
USAID AECOM
SECOND QUARTERLY REPORT, FY 2012 APRIL 14, 2012
April 2012 DISCLAIMER The author’s views expressed in this publication do not necessarily reflect the views of the United States Agency for International Development or the United States Government.
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EDERATION
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COMPRIVBUIL
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ress captures sigaqi colleges of ba
ary 2012, thein Baghdad hip with Iraq
TE FINANCIA
ress the moval investmenvities, and the. The extensthe Project ar the final sel
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T INFORMAT
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IMPROIAL SE
ARGETE
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tween the Federcation looks on.
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HE SOUTHROU
ORMS
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ration
turer Seminaror organizatioployees to int
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UNDNESUGH IN
BI to identifn between b
r on a soundons. It also ternational st
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torneys have rm. In these ittee is researks only in prvidual bank mks such as im
SS OF NSTITUT
fy banks to pbanks. The i
1
d banking set up a
tandards.
aq (GoI), personnel ncept was
the next That will
reviewed meetings
rching the eparation members, mmediate
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participate issue was
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In additiThe IraqBasra an
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inancial Deve
ject continueRegistry websof credit infof credit info
ion, a gradingqi Bank Trainnd Mosul.
L PAYMENT
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ail Payment Sya set of reg
y CBI to rof pending
of adopting period of
on. The Proo drafted theissue in ordparticipants
ry frameworkucture. The Pwill be used by
BANKING SYthe reportingSystem RFP
Additionally, ork survey in(CBS) inherenthe Project wi
lopment Proje
ed to identify site. The matformation in ormation sha
g scale complning Institute
TS SYSTEM (ng quarter, tporting legalystem Infrast
gulations, whiregulate the g legislation,
regulations time than
oject’s retail e "Instructioner to inform
about thek for mobile
Project also dey CBI as a ba
YSTEM g quarter, thP by deliverin
the Project nstrument to nt in CBI’s acill be able to
ect: Quarterly
and developterials include
Iraq; a backring and defi
BANK TR
The Iraqi during thibanks opeprovided tstudent frapproximain applyinincludes uproviding
liant with thae has also exp
(RPS) the Project l basis for tructure by ich will be
RPSI in since the
will take a n enacting
payments n” for the
m payment e revised payments aneveloped a dsis to negotia
he Project mng the legal developed angive CBI th
ctivities. Aftefinalize the R
y Report – –Ja
p public aware: a descriptikground to tnitions.
RAINING IN
Bank Trainiis reporting perating in Iraqto 77 studentrom each ofately 65%. Tng internatiouse of comp
continuous at used by Irapanded its re
nd the princraft Terms anate the RPSI
made significaand procedu
n industry sthe ability to ver CBI complRFP.
nuary – March
eness materiaon of Creditthe Credit R
STITUTE (Bing Institute period. Interq. A total of ts. At the sef these 28 bThe Iraqi Banonal training etency assessfeedback toqi Higher Edach beyond B
ciples underpnd Conditionlicense agreem
ant progress ural sections tandard Finanvisualize the letes the revi
h, 2012
als for its inct InformationRegistry; and,
BTI) entered the
raction occurf 4,264 hours eminars therebanks. Femnk Training I
standards fsment and p participants
ducation InstiBaghdad by s
inning the rens for the RPment with th
towards comof the RFP
ncial Businesrequirementew of the RF
clusion onto tn Bureau serv, explanation
Iraqi Bankinrred with 28
of training he has been at male represenInstitute is sufor its coursplacement exs and their mitutes is beingserving stude
etail paymentPSI license aghe winning bid
mpletion of to the CBI
ss Architectus for a Core
FP, as well as
2
the CBI’s vices; the
ns on the
ng Sector of the 32
have been least one
ntation is ucceeding se. This ams, and
managers. g applied. ents from
t systems greement, dder.
the Core for their
ure (FBA) e Banking
the FBA
USAID/F
COMAVAI
MINIST
On OctoAl Manscooperatcontinueto the Mof the pa
UPGRA
AOn DecassociatiInternatiUniversiUniversiInternatibusinessCompon
institutiowell as memberCaliforni
Shippensand the Pfor Apribecause April 15conferenso succePennsylv
Dr. Moyto work presentethis wor“Certificthe Iraq
inancial Deve
MPONENILABILI
TRY OF HIG
ober 31, 2011sour Universte with Comed to engage
Ministry of Hiartner college
DE EXISTIN
AACSB Memcember 18, on to Advanional) that thity, Al Mansoity were ional is the w education.
nent 3 team m
ons to discussthe next st
s, and to atteia, April 28-M
Grantee Site V
sburg UniverPost Graduatil 8-13, 2012of security c
5-20, 2012. nces betweenessful that wvania and Bag
Short Term Teyara Ruehsenk with the pred a workshokshop were i
cates of ComFinancial De
lopment Proje
NT 3: ITY OF
HER EDUCA
1 a letter signsity College, mponent 3 a
constructiveigher Educaties of managem
NG FINANCE
mberships 2011, Comp
nce Collegiatehe applicationour University
approved world’s leadin During members me
s the significateps to engaend the 2012May 1, 2012.
Visits
rsity of Pennte Institute o
2. University concerns rela
In lieu of n University owe have alsoghdad Univer
echnical Advison, Associate Project from
op entitled, “invited from pletion” wer
evelopment C
ect: Quarterly
IMPRFINANC
ATION (MO
ned by the Miand Al Mus
activities. Thely with the Cion have intement and eco
AND BUSIN
ponent 3 wae Schools of ns for membey College, andfor membng accreditin
this report with the de
ance of this aage with the2 Annual Mee
nsylvania madof Higher Stu
of Dubai wated to the up
face to faceof Dubai ando begun initrsity and Al M
or (STTA) Professor at MDecember 1
“Current Issuthroughout
e awarded toChief of Party
y Report – –Ja
ROVE CE AND
HE) inister of Higstansiriyah Uhe Ministry Component 3eracted and suonomics and
NESS PROGR
as advised bBusiness (AAership by Bagd Al Mustansership. AA
ng organizatiorting periodeans of the p
accomplishme AACSB aeting in San D
de its initial vudies Accountwas forced topcoming Arae meetings, d Baghdad Utiating video-Mansour Univ
Monterey Ins0, 2011 to J
ues in FinancIraq’s Colleg
o attendees. “y and H.E Mi
nuary – March
Dr.CoBagagrme
THE D BUSIN
gher EducatioUniversity aut
of Higher E3 programs. upported mewith Compo
RAMS AND A
by the ACSB ghdad siriyah ACSB-on for , the artner
ment, as and its Diego,
visit January ting and Finao cancel theiab Summit. Tthe Componniversity and-conferencesversity Colleg
stitute of IntJanuary 13,
ce and Bankinges of Manag“Certificates oinister of Hig
h, 2012
. Abdul Jabar allege of Adminghad Universireement with embership.
QUALNESS ED
on was sent tothorizing andEducation SAdditionally
eetings with thonent 3 grante
ACCREDITAT
5-12, 2012 toance. The secir second siteThe visit has nent arrange
d Al Mansour for Shippenge.
ternational St2012. Dr. Rng Education
gement and Eof Completiogher Educatio
al Obuadi, Deanistration and Eity signing ththe Project fo
LITY DUCATI
o Baghdad Ud instructing Senior Advisy, the Senior he deans andee institution
TION.
o Baghdad Ucond visit is se visit (Marcbeen resched
ed a series or University. nsburg Univ
tudies, was coRuehsen prepn”. The attenEconomics. Fon” were co-son, Ali Al-Ad
3
an of the Economy, he grant or AASCB
AND ION
University, them to
ors have Advisors
d faculties ns.
University scheduled ch 11-15) duled for of video-This was
versity of
ontracted pared and ndees for Forty-two signed by deeb. The
USAID/F
workshoAccountFederatioentitled,
On Januand the vehicle t“Letter osharing mJoint Cobanks anCouncil academicCooperaCooperamutual cFederatiorespondeservices.contributerm suc
inancial Deve
op was held ting. On Jaon of Iraq P“The Three
University Paruary 3, 2012,
partner univto bridge the of Cooperatimutual conce
ouncil will ennd its universserves as a
c communityation” signingation” outlineconcerns andon agreed ted toward un The banks a
ute to faculty ccessful relati
lopment Proje
December 1anuary 3, 201Private BanksPillars of a So
rtnerships and ta “Letter of Cversities estabprivate bank
ion” outlineserns and inteable the partisities. Then,vehicle to b
y. This was g between thes the proced interests reto continue niversity requalso agreed toresearch effoonship betwe
ect: Quarterly
18-22, 2011 a12 Dr. Ruehs. On Januaryound Bankin
the Joint CouncCooperation”blishing a Jo
king sector ans the processerests relativeties to solidify, In March 2bridge the p
the first mee universities
ess by whichelative to Iraq
collaboratiouests for intero support unorts. The Joineen Iraq’s pri
y Report – –Ja
at Baghdad hsen was they 7, 2012 Dr
ng System”.
cil ” was signed
oint Council. nd the Iraqi fi by which th
e to Iraq’s pry a long-term012, the Com
private bankineeting to taks and the Fedh the parties q’s private bn with the
rnship placemiversity businnt Council coivate banks an
nuary – March
University’s e guest speakr. Ruehsen p
between the The Joint
inance and bhe parties wirivate bankingm successful rmponent andng sector an
ke place sincederation of Ir
will cooperaanking sectouniversities.
ments and effness advisoryontinues to ennd its univers
h, 2012
Higher Instiker at a lun
presented the
e Federation oCouncil is inanking acadeill cooperate g sector. It irelationship bd the Joint Cnd the Iraqi e the Januaryraqi Private Bate with the
or. During th. Federationforts to develoy boards thronable the parsities.
itute for Fincheon hoste
e distinguishe
of Iraqi Privantended to semic communwith the inteis anticipatedbetween Iraqouncil met. Tfinance and
y 7th 2012 “Banks. The “ intention o
he March me members pop professionugh memberrties to solidif
4
ance and ed by the ed lecture
ate Banks erve as a nity. The ention of d that the q’s private The Joint
d banking “Letter of “Letter of f sharing
eeting the positively nal career rship, and fy a long-
USAID/F
QUMOREPCOMTHE
DELIVE
As with lacking areform hdown. Cformulatdevelopmadvocatiof refortechnicalIraq, so and proestablishforging asector wentities a Private D 1.1.1 more in
CompleTwo inteoperationstaffing and the Psubjects Federatiobank stacommitt With comthe staff
inancial Deve
UARTONITPORT
MPONENPRIVAT
ERABLES - Nmany econo
an effective vhas hampered
Consequently,te, influence ment. The png for reformms. In ordel assistance athat they arevide capacity
h the Federata strong, pro
with the Centas well as with
Bankers’ As
Strategic Pndustry asso
Implement cour
eted during ternal commitns to addresfor other coProduct/Servand bank m
on staff and aff working intee representa
mpletion of f hired, and m
lopment Proje
TERLYTORINT NT 1: ENTE FINA
NARRATIVE
omies in transvoice in the pd past effort, this compoand assist in
private bankims and provir to achieve
and training to able to educy building setion of Privaofessional indtral Bank of h the Iraqi cit
ssociation
lan for insticiations
rse of action to
this quarterttees of the Fss advocacy aommittees invices Commi
members’ lackproviding di
n the commitatives from th
three USAIDmuch of the n
ect: Quarterly
Y PRNG, A
NHANCANCIAL
E sition, the pr
policy processs to implemenent will focn the impleming sector, tiding critical
e this objectio the private cate policy mervices to itsate banks in dustry voice f Iraq (CBI), tizens. (See A
itutional de
establish/streng
r: Federation, Land banking cluding the Tittee. This is ak of knowledirection to thttee areas to dheir banks.
D grants, theneeded equipm
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OGRAND
CE ADVOL SECT
rivate bankins. The lack ofent reforms, cus on strengmentation ofthrough an analysis and
ive, the Iraqfinancial sec
makers to pushs members. 2011, a newthat can effeCouncil of
Appendix A,
velopment,
ngthen organizat
Legal/Advocaimprovemen
Technology a reflection odgeable staff
he committeedetermine ho
e Federation ment is in pla
nuary – March
RESS, D EVA
OCACYOR
g sector in Irf a private sewhich to da
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q Financial Dctor through h for priorityThe project
w private sectectively repreRepresentativ2012 Project
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headquartersace. The Fed
h, 2012
ALUA
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poorly organon or constitun driven fromncial sector’s pport financiwill take thethe costs andt project is pon of Private nd regulatoryechnical assisorganization erests of the nd other govchedule).
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unications Coinability to dr
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Project assishe Turkish Baion has conti
Banks in Beir
next quarterist the Federy agenda forwnications exeations and we
on finalizes corporate as a
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this quartera “Plan of Ang Director pation that it ny.
next quarterher a new ored. Federationexample.
n with the associ
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next quarterPlan will be co
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d address elenager. At thirector. Buildistance and poanks Associainued to builrut, Lebanon
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ements of ts point, mucing the overaotential twinntion or the Uld its regionaand initiatin
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basic Strategic P
hip to continthe Federat
xt quarter.
ociation(s) a
visor reviewe
te the action
nuary – March
their missionch of the misall staff capacning of staff
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ity to run atcations operaopening cerem
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ance Plan) lal approval byif the Federa
ought or notin understan
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plan for the
h, 2012
n from the Fssion-targetedcity will take with staff of
b Banks. Addps, furtheringthe Turkish
t least two aation, and adomony for the
r its Limitedate more mem
st quarter. Ity the Generation changes
t, the Adminnding governa
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Federation Ed activity reqseveral mont
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of the straterengths, We
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ted the Fede
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6
Executive quires the ths of on l regional th Project ation with ciation in
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A prioritize
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White Paper.
ing during noject and USAt that point, he meeting, t
Develop tailordevelopment wi
lopment Proje
Training Pla
this quartersted the Fedy training b
next quartery Committee
team, meeti
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next quarter
ions for asso
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this quartered Financial Dlaws and praent to be rew
next quarterSAID must d
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y Report – –Ja
ented
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ue to focus on as necessar
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clear roles, defi
association prioritizing r
ccompany thi
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e Paper and oth
t Task Forcel as the activo delayed the
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nuary – March
on of the Legcourse is b
on the elemery to identify
sociations
fined responsibili
and updatedreforms and is assistance.
identified a
her research
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nd membershthe revised co
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with potential
h, 2012
gal/Advocacybeing implem
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per was draftFederation o
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y Committeemented thro
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roject legal ton plans wit
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GoI Champior if that is appomment.
r private finan
7
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Comple The Tasbeen redsector orRepresento all. Th UpcomiThe Task
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inancial Deve
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this quarter
mbership hasthe former lto a small gr
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next quarterng of the Fin
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this quartereferred to nex
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y Report – –Ja
fined in prepof members ude represenMinister’s ec
n the Project a
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elopment Tas
ancial sector d
be ready for
ented includof banks in
lan
isor assisted e, Attitude anstanding, and
ments, profesand country-w
Federation imas needed.
nuary – March
aration for afrom many tatives from
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ng of key GoI
gural meetingve and the ini
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development, ba
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the Federationd Practice) d participatiossional outreawide plans.
mplement the
h, 2012
a first Task Fgovernment the Central
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8
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ting tools and pr
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mmunication pro
this quarters advisor detn must take, o members inommunicatio
next quarters advisor wiltion with Fed
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nd Internati
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arter t with the Ue Turkish B
ect: Quarterly
romotional mat
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UAB to formanks Associa
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terials
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o work with f.
te public, invest
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Federation tothe activities
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ges Establish
profile internati
malize their ation for a
nuary – March
embers and wg a fact shee
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o plan a publs of the Fede
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h, 2012
worked withet, brochure,
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interviewed ataff and memedures with mhard copy.
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9
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arter meet with thereform agenese actions e used to mon
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ory process requ
Legal Advisoto identify t
y Report – –Ja
he UAB and st practice tra
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finance program
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mployee Qualiersity Deans
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e areas for reform
ort-list,” theg. The “shortcompete for to state bank
w private banrmediary; 3)
d mobile bankcipate fully wi
of the Federaaction plan
hen be incororm process.
uired to obtain a
r, the nationathe most eff
nuary – March
the TBA to aining for ban
Established
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four Collegesnar on January
ity Committeto develop a
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rm/development
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banking serks; 2) changinnks ability to
providing lking that ensuith the housin
ation Legal Cns, build advrporated into
approval
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h, 2012
increase wornkers in Iraq.
h private bank
s/Institutes oy 3, 2012.
ee and Federjoint agenda
and Admincial Sector
t
moved to vised and nowrvices busine
ng the currenissue more Legal framewures protectiong fund witho
ommittee as vocacy skillso the Projec
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inistrative R
the Federatiw includes: 1)ess with gov
nt policy on rLCs without
work to suppon for consuout CBI restr
often as necs and assignct PMP as i
nical staff coeach bankin
10
nships for
and Task
ation and
ship with
Reforms
ion Legal ) creating vernment restricting using the
port retail umers and rictions.
cessary to n reform individual
ontinue to ng reform
USAID/F
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IMPL
Challenpaid for received meeting memberapprovedcompliedSolutionThe issu Challenfinancialnot a genand misaSolutionstock coManagin Challenbanks arSolution Challenlevel) GoTask ForSolutionthe task
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ing next quaLegal Adviso. At that po
rovide inform
LEMENTA
nge: The Fedtheir particiall required signed by alls must submd. Those mind with the regn: The Federue is expected
nge: Iraqi lawl documents nerally accepappropriationn: Before Julmpany with
ng Director.
nge: The Fedre interested in: The plan f
nge: The FinaoI officials. Mrce. n: The solutiforce make-u
lopment Proje
arter or will arriveint, project p
mation and ad
ATION I
deration is faipation in thedocuments frl shareholdermit minutes nutes must bgistration reqration and th
d to be resolv
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ancial Sector Major cabinet
ion is to estaup as describe
ect: Quarterly
e and begin personnel wildvice on speci
SSUES A
acing operatie organizatio
from the Feders. In additionfrom their B
be signed by quirements. he Project ared within the
Managing DLiability Comin the rest of
expected thairectors whic
mited to 25 d more membation to restr
Development changes nex
ablish new reed above.
y Report – –Ja
to drive thisll identify repific reform is
AND CHA
ional financiaon had to beeration includn, because thBoard meetinall Board m
e working we first weeks o
Director to bmpanies such f the world be
at the Federach will provid
shareholdersbership is souructure to bec
nt Task Forcext quarter wh
elationships w
nuary – March
s work in ppresentatives sues.
ALLENGE
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he members angs when meembers. At t
with member of quarter 3,
be the single as the Feder
ecause it can
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artnership wfrom various
ES FACE
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11
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reholders Registrar
Assembly duals, the ation was nies have
situation.
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PROVE R THROEFORMS
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Credit Inforation regulatioe that inclu
Project has ctions to raisopment. It is internally by
2 the CIB Stmeaningful den of the IFC of credit infoserious cons
y Report – –Ja
THE DEOUGH INS
sist the indutor by a) dev
mand-driven troving the re
ystem and Co
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n credit informa
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CIB steeringquarter. It s
ry Advisor wh
rmation Steeon. The Steerdes developalso collated
se awareness expected tha
y Project lega
teering Commecisions. Theanalysis of le
ormation legisideration to t
nuary – March
EVELOPNSTITUT
stry associativeloping institraining to finegulatory capore Banking
s for Cre
ommittee, drinduct. The pcomprehens
ct and CBI. Ttion and Cre
ation sharing
it informationnformation rative review o
g committeehould be nothich is expect
ring Commitring Commit
ping two-tier d a number
of the sub-at a preliminaal staff prior
mittee condue March meeending capaciislation for ththe Jordanian
h, 2012
PMENT OTION BU
on(s) and coitutions such nancial sectopacity of the
System. (Se
edit Burea
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OF THE UILDING
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au Identifi
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ed a subcomroved the app(CBI ordinaformation leon current rhe regulation culated to Co
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12
G
n the GoI bureau, b) rs, and c) k of Iraq
x A, 2012
ed and
members, ed for the egulations he use of
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a work in n effect in o Iraq law
e goal of nding the 2012.
mittee to proach to ance and gislations
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ommittee
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tion-wide bove, the
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decide on lot. The Projnd complete a
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ng credit infoduced as a tw
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llow up withude customer
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orkshops for frnually thereafter
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h CBI to obr consent clarticipation ofs is a work in
mpaign(s) L
frontline credit r
y Report – –Ja
with all registry
d should be rmation Bureconsent form
Project requted a direct dam for custom
he USAID Mct a series oe intent is to smission protd private sector expand the ms for the pr
ated by this cent for all bato address theh microfinancegy—a pilot p
Bank were ap
n forms was nal form of
ed that appropart of the apvision was co
btain a non auses at the pf the Al-Thiqn progress an
aunched to
staff at comm
nuary – March
ry subscribers
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uest to selectdialog with semer consent.
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rotection of t
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14
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15
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16
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lopment Proje
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next quarter
g English Pronts are planne
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inkages to ot
this quarter
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next quarter
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f training delirlier contactsrts will includ
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sessions werIraq Nationa
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re completedal Center fo
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17
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continue.
overnance oriented the Bank
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ject developeas a basis to d to CBI in E
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s of adoptingpment can pre. During th
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nd the principnstruction” wthe authoritytheir legal de
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English and A
quarter, withtial bidders ost were receivesponses, ideued by CBI i
next quarter
k with CBI tPSI to qualifie
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r
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n Erbil in haf risk managrough, with be taught how
g course in Erf the new Nand NPC, andof national p
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y Report – –Ja
will take a segulations muquarter, the Pd will send to
retail paymem participantsinning the red procedurallBank Law 200both English
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view and com
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m with issuingnsortia. To suprocess of evtems Infrastruusiness modetment team haway from t
as been planngement questthe RPSI teaw to make ev
rbil for the mational Paymed include outspayment systs of the RPSI
project invol
nuary – March
shorter periodust be complProject has co CBI for dis
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d of time thaleted and adocompleted thscussion and
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uest for Stateood responswed those doe formal Reqent issues wi
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ering Commicourse will c
are their expelly planned foppointed.
18
egislation the RPSI lations, is the near
r the CBI work for It is the CBI, and delivered
ll be used ment was
ements of e and 21
ocuments, quest for ithin CBI
(RFP) for ill have to project to erience of s that will em to the using the has been
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USAID/F
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were pre-quad criteria in thd bidders wons roposal evaluaxperts will reCommittee w
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he IPS Infrastru
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quired to be in
roject is in futhe initial pprogress in
nt, has reporobstacle has
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next quarter
ntinue to folloerational testi
ect: Quarterly
alified throughe RFP
will be sent
ation: ead all the tecwho will do t
be analysed brs will indiving sheets
ged by the IFcalculated usins will be invitring committ will be calcuuser visits. tion: of the 2-3 beFDP, and scoalculate the fngs from thee best score next best Bid
ensure a fair, o
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n place prior
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based bank.
r
ow up with Cing as well as
y Report – –Ja
gh assessment
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chnical propothe scoring (“by the Commidually score
DP team, disng pre-specifted to demontee will visit aulated by the
est bidders wores will againfinal scores c RFP will be invi
der will be in
objective and
ort Retail Bank
dations to CBte the additto implemen
nd on schedunot yet beenbased on thecontract has
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y issues relatrking with itsthe US bank
CBI and the s help CBI mo
nuary – March
t of their stat
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osals and bri“the Tender E
mittee membeeach bid ag
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king
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nting the RPS
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ting to Monts US bankers
ks Montran is
local Montronitor Montr
h, 2012
tements of in
must respo
ef the 4-5 peEvaluation Cers against prgainst each c
highest and lgs from the Rolutions to thm each of thrts, including
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tiate the awaotiate.
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f the fact thantran manageMs Duha Abved by the G
tran’s submiss to try resolvs also explor
ran resource ran’s work.
nterest agains
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lowest scoresRFP he committee
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ssion to CBIving the issuering the poss
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19
t the pre-
ng to the
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evaluation ng a pre-
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se; if the
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LEMENTA
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lopment Proje
omplete Req
this quarterg quarter, the m RFP, and dnd technical s
veloped a survSystem (CBS)usiness Archio be includedn team with s planned neth in Arabic a
ng on commurvey responons or outstan
alls were heldDanyelle Ge
vel of supporL services pong core banknesses and rn for monthl
next quarter
g on commened in the sudditionally, thand provide
ATION I
the course oftion by the C
e CBI shouldy external par
CBI concentves justify Ce and the pro
ect: Quarterly
quest for Pro
r Project com
delivered thessections, and
vey instrume) inherent initecture (FBAd in the CBS
a tool for ew CBS, andand English, a
ents on the lnse, which wilnding issues
d between thrges), and BMrt for the exisortfolio, espeking systems, recommendatly onsite sup
r
nts on the aburvey responshe Project wilsupport with
SSUES A
f CBI’s final CBI Legal Dep
d be held acrties.
rate on the dCBI’s involvomotion of fi
y Report – –Ja
oposals for a
mpleted the drse sections to
has also dist
ent to give th CBI’s activi
A) framework (the Functiochecking an
d adding theiand CBI has
legal and proll need severathe CBI may
he Project, FiML Istisharatsting Core Becially serviceas well as an
tions for uppport for the
bove mentionse, and will cll meet with shin Iraq.
AND CHA
review of thepartment. Th
ccountable f
developmentvement in thinancial inclu
nuary – March
CORE syst
raft of the le
o the CBI fortributed thes
he CBI the abties. The surv
k and also inconal Map). Td confirmingir own commdistributed th
ocedural sectal review sessy have.
inancial Servit (Mr. Joe Fadanking Systemes rendered tn analysis of tpgrading and e CBS, and d
ned documencomplete the system provid
ALLENGE
e RPSI RFP,hese concerns
for the RPSI
t of regulatiohe enhancemsion.
h, 2012
tem that cou
egal and procr their reviewe to other de
bility to visuavey was devecorporates a shis table is ag the busine
ments and dehe survey to
tions of the Csions between
ices Volunteeddoul, Mr. Rm. BML agreto the Banquthe current C
updating thdelivered this
nts, as well asCore Bankin
ders to determ
ES FACE
, several concs include:
I project or
on and supervment of Iraq
uld be used f
cedural sectiow. IT manageepartments w
alize the requeloped in thestructured tabimed at prov
ess support etails. The suCBI staff wh
Core Bankinn CBI and th
er Corps - FSRaji Challita) teed to write a
ue du Liban aCBI systems phe system. Bs as a packag
s system requng System RFmine their int
ED
cerns were br
could these
vision only oq’s payment
20
for a bid
ons of the ement has within the
uirements e industry ble of the viding the functions
urvey was ho use the
ng System he Project
SVC (Mr. to discuss a detailed and other profile, its BML also ge to the
uirements FP in the terest and
rought to
tasks be
or do the t systems
USAID/F
At the rneighborregardingbusinessrenewal in previo AdditionRPSI Sttransparehence iCommunawardingthe descrthe conc
inancial Deve
How should during the voperation, m
request of Cring and otheg project an proposals, aetc.). Many
ous Project re
nally, the Proteering Commency, the Steinclude memnications, ang the right toription and re
cerns that CB
lopment Proje
the CBI limivarious stagesmonitoring and
CBI the Projeer relevant conouncement,
award of licenof the examp
eports betwee
oject wrote amittee be apeering Commmbers fromnd private b negotiate thesponsibility
BI currently h
ect: Quarterly
it its responsis of the RPSId license rene
ect submittedountries to h, issuing of nse, managemples used anden March and
and deliveredppointed andmittee would im outside o
anks, and whe License to
for each stepas about proc
y Report – –Ja
ibilities with rI project lifecewal).
d a final rephelp CBI betttenders, recement of impld arguments d June 2011,
d a memorand take the minvolve both
of CBI, incwould be tas
implement thp of the Tendceeding with
nuary – March
regards to thcycle (i.e. ten
port to the Cter understaneipt of propolementation, raised have abut the new
ndum recommmajor role in h users and pcluding Minked with evhe RPSI. Theder process. Wthe Tender u
h, 2012
e managemenndering, licen
CBI describinnd the role oosals, evaluaoperation, malready been paper consol
mending thatthe tender e
providers of pnistry of Fvaluating the e memoranduWe anticipateunder its own
nt of the RPSnsing, implem
ng similar prf other Centrtion of techn
monitoring anpresented to
lidates the da
t the membeevaluation. Tpayment serv
Finance, MinRFP respo
um explainede that this wiln direct auspi
21
SI project mentation,
rojects in ral Banks nical and
nd license o the CBI ata.
ers of the To assure vices, and nistry of nses and
d in detail ll mitigate ices.
USAID/F
COMPFINAN
DELIVE
As with resourcesystem isof a moddecades oil privaeducatiocounterpoverseasmay be market eimplemelinkages include p(See App D 3.1.1 Program
CompleDuring tmeetingscurriculuand the and Ecoin Erbil a UpcomiIn the uby schedComponand finaladdress t D 3.1.2Conducfor projuniversi
inancial Deve
PONENTNCE AND
ERABLES- Nmany econo
e base lacks ss characterizedern market-bhas exacerba
ate sector as n is essentia
parts on devs for short anenvisioned). economy andenting assista
among the private sectorpendix A, 201
GAPS Anam Conducte
eted during tthis quarter, ts with the Iraum can be improposed m
onomics throuand the Ame
ing next quapcoming quaduling meetinnent. The Col evaluations the banking a
: Upgrade cting facultyject adminiities
lopment Proje
T 3: IMPRD BUSIN
NARRATIVE
omies in transskills in modeed by pedagobased econom
ated these chaa source of
al. This task veloping capand long termThis compod the offerinance to bring
financial andr universities 12 Project Ac
alysis of at ed
this quarterthe Componaqi partner un
mplemented. Todel curriculughout Iraq berican Univer
arter arter the projngs where thomponent wconducted f
and finance d
existing finy training, uistration and
ect: Quarterly
ROVE THNESS EDU
sition from aern finance, aogies, curricumy, and isolaallenges. If Irjobs, significalso respondacity at hom
m training andnent is aime
ngs of the exg curricula upd private secand public s
ctivities Sche
Least Two
r nent Director niversities thThe Componlum tothe Iraby sharing thrsity of Iraq in
ject will conthey are debr
will also reporfrom the upcdeficiencies fo
nance and upgrading cd accreditat
y Report – –Ja
HE QUALUCATION
a command eaccounting, b
ula and materiation from thraq is to divecant attentionds to the higme to train ad education (d at bridgingxisting Iraqi p to internatctors and buector universdule)
Existing Bu
engaged witat explored mnent Directoraqi partner in
he Gaps Analyn Suleymaniy
tinue to engariefed on anyrt out and shcoming ToT ound in the G
business prcourse matetion, facilita
nuary – March
LITY ANN
economy to obusiness and ials that are i
he internationersify its econn to the devegh premium pand educate (although somg the skills gaeducational
tional standausiness schoosities and a cl
usiness and
th the Ministrmechanisms br disseminatenstitutions anysis and its fi
yah (AUIS).
age the Minisy new univerare with the workshops.
Gaps Analysis
rograms anerials, introdating partne
h, 2012
ND AVAIL
one based onmanagement
inconsistent wnal communitnomic base byelopment of placed by GIraqis rathe
me overseas ap between tsystem. This
ards, training ols and univlose collabora
Finance Un
ry of Higher by which cha
ed the resultsnd other Colindings with
stry of Highersity partnerMoHE its fiWorkshops as.
nd introduciducing intererships with
LABILIT
n markets, tht. The Iraqi ewith the requty over the lay developing finance and
GoI and privar than senditraining oppothe requirems will be ach
faculty, andversities. Couation with the
niversity or
Education toanges in the p of the Gapslleges of ManSalahaddin U
er Education ships initiateindings from are being del
ing new prrnational sth regional a
22
TY OF
he human education uirements ast several
the non-business
ate sector ing them ortunities
ments of a hieved by d creating unterparts e MoHE.
r College
o arrange proposed s Analysis nagement University
(MoHE) ed by the
the daily livered to
rograms. tandards and U.S.
USAID/F
CompleDuring tconcerns- and sediscussedcareer seon eachUniversifor the Aof the Se Shippensfrom Matickets. TMelodyeHigher SPost Grteaching support memberthe PresiSarah BrFinance impactedHigh InmeetingsFinance UpcomiDuring tTrainingComponinstructioprovidedBanking
Begin UpcomiDuring tpartner internaticolleges,interpretDirectorAACSB deans ofApril 28-
inancial Deve
eted during tthis quarter ts. However, eparately - wd the establiervices. They Centers’ strity Colleges itAssociation telf-Assessmen
sburg Univeray to April 8-To collect d
e Wehrung cStudies Accouraduate Institg methods, tefor teaching s and 24 respident and alsryant who isand Banking
d by the Cennstitute of Fis will formaland Banking
ing during nthe next qua
g of Trainers nent’s Decemonal workshd from the Cand Finance
n dialogue with
ing during nthe next quaruniversities
onal accredit the Compoted correctlyr will ensure are complet
f Iraqi Unive-May 1.
lopment Proje
this quarterthe UniversitThe Univers
with Al Manshment and
y also discussructure and ts progress ino Advance Cnt Report ha
rsity revised i-13, 2012. Shdata on the conducted a unting and Fitute of Higheaching resoinnovation aponded. Tho with the M
s collecting dg Education
nter for Exceinance and Blize the relat
g Education”
next quarterrter the Com(ToT) works
mber 18-22 “Cops for their
Component ae” workshop.
university adm
next quarterrter the Comp
and collegetation. Workionent Deputy, and respon
that any andted and propersities who
ect: Quarterly
r ty of Dubai dsity of Dubainsour Univer
structuring osed the formaoperating pr
n refining theCollegiate Schs been set for
its return visihippensburg “Center for survey ques
inance. With her Studies iurces currennd teacher dee Componen
Ministry of Hidata for the p”. Dr. Bryanellence in BaBanking, andtionships thafor Iraq.
r mponent will shops. InstruCurrent Issuer banking an
and is taken f
ministration of th
r ponent will ces to comming as the liaity Director nded to in d all material
perly submittewill attend a
y Report – –Ja
delayed theiri was able to rsity College of a center fation of the ractices. Univ mission, visi
hools of Busir March 30.
it date to BagUniversity haExcellence
tionnaire of the assistanc
in Accountinntly available,evelopment. nt scheduled igher Educatiproposed feant has prepanking and Fi
d the membeat could esta
assist its Irauctors of theses in Banking
nd finance tefrom materia
the Partner Col
continue to smunicate theison betweenwill ensure a timely mals and documed to the AAa 3 day AAC
nuary – March
r site visit to conduct a seand Baghd
for internshipBusiness Adversity of Dion, and objeiness (AACSB
ghdad Collegas confirmedin Teachingfaculty from
ce of Dr. Muwng and Finan, teaching reThe questionmeetings wit
ion (MoHE) asibility studyred a series inance, the Mers of the Irablish this p
aqi partner inse workshopsg and Financeaching colleals of the De
lleges on require
chedule meete AACSB r
n AACSB andthat all AAC
anner. Addimentation reqACSB. Lastl
CSB conferen
h, 2012
April 15-20,eries of videoad Universitps, scholarsh
dvisory CouncDubai discussectives of its sB). A delivery
ge of Managed these dates g”, Shippensbm the Post Gwafaq Abdul nce, faculty wesources desinnaire was dith Baghdad Ufor Shippens
y for a “Cenof questions
Ministry of Hraqi businessremier, “Cen
nstitutions in s are participace” and haveeagues. Workecember 18 -
ements for intern
tings with threquirementsd the Iraqi paCSB correspitionally, the quired by thely, The projence in San D
, 2012 due too conferencesty. With eachhips, and procils that woused with Al self-assessmey date for co
ement and Ecby purchase burg UniversGraduate InsHussein, Dewas queried ired, and insstributed to 2University’s Osburg Univernter for Exces for three a
Higher Educas communitynter of Exce
delivering a ants who attee agreed to hkshop conten22 “Current
rnational accredi
e deans froms and standartner univerpondence is
Componente executive oect is sponso
Diego, Califor
23
o security s together h, Dubai ofessional uld advise
Mansour ent report ompletion
conomics of airline sity’s Dr. stitute of ean of the
on their stitutional 25 faculty Office of rsity’s Dr. ellence in audiences ation, the y. These ellence in
series of ended the hold these nt will be Issues in
ditation
m the Iraq dards for sities and received,
t Deputy offices of
oring four rnia from
USAID/F
In orderUniversimeetings D 3.3.1
Provi CompleIn additiopportunnetworkibanks wopportuncareer se UpcomiThe ComIraqi PriLetter ofsharing banking within thCompon D 3.3.2internsh CompleIn this qon the Baghdadplacemenhosting sand Dr. first hantheir besand Al -M UpcomiIn the coUniversiWorkshoLeadershDone; Wskills/ma
inancial Deve
r to monitoity and Al Mas that the Iraq Mechanism
ide guidance an
eted during tion to the abonities for ining luncheon
were asked tonity for highervices center
ing during nmponent willivate Banks. f Cooperatioof ideas betindustry inpu
he Colleges. Inent will sche
2 “Initiativehip program
eted during tquarter the Uestablishmen
d University ant and develsession for DA. Keel Daw
nd-exposure tst practices toMansour Uni
ing during noming quarteity College aops will inclhip skills for Winning Emaster the pow
lopment Proje
or and evaluansour Univeq partner uni
m for coopera
nd facilitate the f
this quarterove activities
nteraction inns. The first provide inte
hly qualified crs, and serve a
next quarterl hold the firsThe purposen that establi
tween the prut and suppoIt is also to hedule quarterl
es and pilotms, career de
this quarterUniversity of nt of internsand Al Mansolopment men
Dr. Ahmed Nwood of Al Mto the Univero the internshiversity Colle
next quarterer Dubai Unia series of wlude topics sbusiness own
mployees Lower of public
ect: Quarterly
uate the proersity Collegeiversities and
ation betwee
formation of th
r s, Componenn regards to
meeting of ternship and candidates, seas informatio
r st working me of the meeished the Joirivate bankinort the continhave the bankly meetings fr
ts that supevelopment
r Dubai adviseship, scholarour Universitntors. The C
Nezar, ChairmMansour Univrsity of Dubahip, scholarsh
ege.
r iversity has p
workshops thsuch as: Honers; creativit
oyalty and Cspeaking.
y Report – –Ja
gress of Bu, the Compocolleges hold
en the priva
he Strategic Ad
nt III continufuture Join
the Joint Coujob opportunerve on advison or data res
meeting in Apeting will be int Council. ng sector andnuous improvks participaterom here on
pport studencenters, and
ed Baghdad Urship, entrepty identified eComponent
men of the Stuversity Collegai Intern and hip, and care
proposed to dat will give
ow to increaty and innovCustomers L
nuary – March
usiness Advisnent will requd with their B
ate sector an
dvisory Joint Co
ed to work cnt Council euncil was arrnities, fund ssory boards osources for fa
pril between tto actualize tThese activitd the collegevement of the in speaking out.
nt opportund entreprene
University anreneurship,
existing internrequested Dudent Servicege. A site-visiCareer Deve
eer developm
deliver at Bagguidance to se personal
vation; ExecuLoyalty; Eff
h, 2012
sory Counciluest updates
Business Adv
nd the Partn
ouncil
closely with Cevents, workranged in Mascholarships of the internaculty conduc
the 4 Deans athe activitiesties will inclues with a vihe finance an
engagement
nity, such eurship cent
nd Al Mansoand career dnal staff actin
Dubai Universes Consultanit to Dubai welopment Cen
ment centers a
ghdad Univeinterns and effectiveness
ution: Disciplifective & P
ls status at and invitatio
visory Counci
er Colleges
Component I kshops, lectuarch where thor promote
nship and procting research
and the Fede as spelled o
ude such thiniew toward pnd banking cuts at the Colle
as scholarsters”
our Universitydevelopment
ng as intern asity to do a
nt, Baghdad Uwill provide thnter and howat Baghdad U
ersity and Al internship p
s & leadershine of Gettinowerful Pre
24
Baghdad ons to any ils.
in Place
to create ures, and he private academic
ofessional h.
eration of out in the ngs as the providing urriculum eges. The
hip and
y College t centers. nd career site-visit
University hem with
w to apply University
Mansour providers. hip skills; ng Things esentation
USAID/F
IMPL
ChallenBaghdadFinanciachallengechallengemeetingsSolutionincludinguse of hi ChallencompounSolutionAl Mans
CROSCOMP
All Comprocedurand assisdocumenPaymentCBI RPregulatio ComponMustansFederatio
inancial Deve
LEMENTA
nge: Compond. Because of al Developmees to meet fe also greatls and to traven: Componeng Skype and ighly reliable
nge: Componnd. Often ovn: Componenour compoun
SS COMPPONENT
mponents worral matters. Fsts with Fedents drafted ot Services; Lic
PS RFP; the on of the Iraq
nents 1 and iriya Universon bankers to
lopment Proje
ATION I
nent 3 continf the increasedent projects face-to-face wly impacts thel to venues tnt 3 is overcvideo conferIraqi nationa
nent 3 is chver-booked, cnt 3 has colland.
PONENT TS)
rk with the leFor Componeration legal rr reviewed incense agreem
use of the qi Payment Se
3 assisted sity, and the o support imp
ect: Quarterly
SSUES A
nues to be chd security riskexpatriate stwith key deche Componethroughout thcoming this rencing, requal staff to rep
hallenged bycurrent confeaborated with
ACTIVI
egal team whinent 1, the teregistration rencluded: the N
ment for CBI 2008 instru
ervices provid
university dBanking andproved banki
y Report – –Ja
AND CHA
hallenged by dks of travellinaff that are cision makerent’s Iraqi nahe metropolitchallenge by
uesting more resent the Co
y the lack orence facilitie
h other projec
TIES/SY
ich provides eam supportsequirements. New Instrucwith organiz
uction on issder and a non
deans from Bd Finance Insing education
nuary – March
ALLENGE
difficulty in eng outside ofcalled upon rs who influeational staff tan area on a y increasing i
meetings at omponent’s w
of sufficient es are limitedcts that have
NERGIE
expertise ands the legal/aFor the Com
tion on Retaation which wsuing governn-legal code o
Baghdad Unstitute to signn and interns
h, 2012
ES FACE
ease of travel f the Mansouare often hinence or affewho are cadaily basis.
its use of infthe Mansou
work outside
meeting spd to relatively facility meeti
ES (ALL
d guidance ondvocacy effo
mponent 2 Ril Payment Swill build andnment contraof banking pr
niversity, Man a letter of hips.
ED
to attend meur compoundndered by mct the progr
alled upon to
formation teur compound
the compoun
pace at the small groups
ing room spa
n legal, regulaorts of the F
Retail Paymenervices: Regu
d operate the acts; a 43-paractice.
ansour Univecooperation
25
eetings in d, the Iraq movement ram. This o arrange
echnology d, and the nd.
Mansour s. ce on the
atory and ederation
nt System, ulation of RPS; the
age draft
ersity, Al with the
USAID/F
GR USAID/contract designedvarious aanalysis, and the project. At the etotal amfound in During tand from
COMPO
Three offurnish oinitial sta
COMPO
No gran
COMPO
Three oaccreditacontinuein April Two Fixexternal completeshortly.
inancial Deve
RANT/Iraq designayears that w
d to encouraactivities inclpublic educaestablishmen
end of this qumount the pron Appendix B
this quarter tm that total $4
ONENT 1: f the four graoffice space oart-up and are
ONENT 2: ts were consi
ONENT 3: of the five apation processed during thisas noted in th
xed ObligatioUniversities
ed the first o
lopment Proje
TS MAated $5 milliould supportage competitluding but noation campaignt of career
uarter the Projected grantB, Grants For
the total num472,477 was g
ants supportinon time and e now suppo
idered or app
pproved grans started fors quarter, andhe Grant Agr
on grants to sto whom t
of the milesto
ect: Quarterly
ANAion of the tt the activitietion when aot limited to gns, additiondevelopmen
roject had 29ee contributi
recast.
mber of apprgrantee contr
ng the Federwithin budgerting Federat
proved for thi
nts in this cr three Iraqid they are plreement.
support two hese have bones in the g
y Report – –Ja
AGEMotal activity s under all th
appropriate atrainings, co
nal stakeholdent and entrep
9 grants undeion is $1,316
roved grants ribution.
ration of Privet. The localtion Member
is activity dur
component ai Universitiesanning to att
of the three een awarded
grant, and an
nuary – March
MENTbudget for
hree Project Cand to suppoonferences aner events, schpreneurship
er developme6,664. A com
remained ten
vate Iraqi Banl Federation r’s activities.
ring this quar
are for one s. Activitiestend the annu
Universities d have both ticipate reach
h, 2012
T grants to beComponentsort Project
nd workshopholarship andcenters, and
ent totaling $mplete list of
n with a tota
nks were comstaff have be
rter.
year suppors towards thual worldwid
are 24 montmade visits
hing second
e awarded du. The grants counterparts s, policy rese
d internship pa university
$6,131,950. Ff all Grants a
al value of $2
mpleted this meen supporte
rt to get theheir registratde AACSB co
th efforts andto Iraq this
milestone co
26
uring the project is through
earch and programs, y linkages
From this activity is
2,008,081
month to d in their
e AACSB tion have onference
d the two s quarter, ompletion
USAID/F
MO This repplanned monitorecalculatioare inclu
RESULT
There ar
As reporfor theseavailablereportingdata for 2011 datindicatorindicatorreference
LT1: InBanks t As of De3.9% in Though to the re More telprovidedthe total banks prthe base
1 World B
inancial Deve
ONITorting periodperformanceed in Year 2 on formulas
uded in Appen
TS-LEVEL (M
re five approv
LT1-Increase
LT2- Loans
LT3- Interes
LT4- Credit private bank
P1 – Loans held by the c
rted in the pre indicators
e from the Cg period but these results
ta the resultsrs and includrs remains une purposes on
ncreased loto the Priv
ecember 31, 2008; the 2the trend is
egional averag
lling of the rd 34% of all l
assets of finrovided 28.9%eline year of
Bank Data Ca
lopment Proje
TORINd marks the se until year 2
are found infor all projecndix D, Proje
MACRO) IN
ved Results-le
ed loans to th
from Private
st Rate Spread
Extended bs; and,
by Private Bcommercial b
revious quartis available
Central Bank is expected t
s-level indicats will be rep
ded in the nexnchanged fronly.
oans to the ate Sector
2010 domest010 average moving in a
ge.
role of privatloans to the p
nancial sector,% and in 2002010 is beca
atalogue www
ect: Quarterly
NG Aecond quarte
2 are includedn Appendix ct indicators cect Year 2 PM
NDICATORS
evel indicator
he private sec
Banks to the
d
by the Private
Banks to the banking secto
terly report fannually andof Iraq and/to be availabltors that wasorted in a sext scheduled om the last q
private secas a % of a
tic credit to thfor the Midpositive dire
te banks in fprivate sector, they provid
09 it was up tause of an in
w.data.worldba
y Report – –Ja
AND er of the 2nd yd in the repoC, PMP Indican be foundMP.
rs for the pro
ctor as a % o
e Private sect
e Banks by
private sector (Loan to D
for the periodd will be rep/or World Bale within the s reported in eparate MoniQuarterly re
quarterly M&
ctor as a %all loans to
he private secddle East Noction it has m
financing ther, indicating te 1/3 of all loto almost 42%ncrease in lo
ank.org
nuary – March
EVAyear of the prrt. The trackicator Tracke
d in the PIRS
oject:
f GDP;
tor as a % of
sector as a %
or as a perceDep/eosit Rati
d ending Januported on anank. Data fonext two quthe 2011 an
itoring and Eport. The re
&E report an
% of GDP athe private
ctor was 8.9%orth Africa (Mmuch improv
e private sectthat though thoans to the p%. The decreoans by the
h, 2012
ALUAroject. PMP iking sheets foer and a comdocuments f
all loans to th
% of total cr
ent of total pio).
uary 31, 2012n annual basifor 2011 is noarters, as was
nnual report. Evaluation reesults level ind is repeated
and LT2: Le sector
% of GDP inMENA) regivement to ma
tor economy he private baprivate sectorease in this instate-owned
ATIONindicators tha
for all indicatomplete descripfor each indic
he private sec
redit provide
private sector
2, the data acis or as dataot available as the case for Upon publi
eport on Resndicator data d here for co
Loans from
n 2010, up froon was almoake if it is to
is that Privaanks have onlr. In 2008, thndicator frombanks becau
27
N at had no ors being ption and cator that
ctor;
ed by the
r deposits
cquisition a is made as of this r baseline ication of sults-level for these
ontinuous
Private
om below ost 46%1.
catch up
ate Banks ly 10% of he private m 2009 to use credit
USAID/F
provided$2.45 bil The follo
Year 2008 $2009 $2010 $ The dataafter the LT3: In The inteand the effects obad debuncertainbanking costs in isystem o
As of bahigh of 8it is noninterestinforces on
LT4: - private In a mormore evIraq. Hiassociatethe agricand markrisk. A and imp
2 CBI An3 CBI An4 World B
inancial Deve
d by the privallion in 2010,
owing table s
Total credit
extended to the
Private Sector3
$3,334,703 $3,971,083 $7,288,146
a for 2011 wi data is publi
nterest Rat
erest rate spreaverage inte
of five factorbts due to pnty due to wsystem, refleintermediatin
or poor institu
aseline period8.28% in 200
netheless well ng to observn December
Credit Extebanks
re robust andvenly dividedigh concentraed to the parculture sectorket price risklow standard
provement in
nnual Reports nnual Reports Bank Data Ca
lopment Proje
ate banks to an increase o
hows all data
total Credto the
private sector byPrivate Banks
$965,049$1,647,68$2,465,23
ill be reportedished.
te Spread
ead is the difrest rate on
rs: innate lendpoor lending weak credit ecting a lack ng deposits inutional found
d ending Dec08. Though t
above a regive the change31, 2011.
ended by th
d diversified b. Therefore,ations of credrticular sectorr subject lendks). A High sd deviation inn collections
for 2010 and for 2010, 200
atalogue
ect: Quarterly
the private sof almost 67%
a and the calc
dit
y
CBI 9 $130,789 $119,039 $146,9
d separately i
fference betwdeposits in tding risks du
decisions, pinformation of effective
nto loans. Redations for th
ember 31, 20the trend appional averagees in this ind
he Private B
banking secto, This indicadit in a particur where the c
ders to the samstandard devindicates less s/risk manag
2009 09 and 2008 w
y Report – –Ja
sector actually%.2
culations for b
GDP Wo
747,695 $8085,470 $6971,774 $8
in a special re
ween the avethe banking ue to structurperhaps resusystems or competition
elatively highhe developme
010, the interepears to be dee of about 3%dicator in 201
Banks by sec
or such as Jortor reveals thular sector sucredit is concme risks suchiation signals concentration
gement as w
were used for a
nuary – March
y increased f
both LT1 and
orld Bank GDP4
6,530,7845,837,4352,150,313
eport and in t
rage interest system. Thiral characteriulting from p
collateral mn in the finanh values are a ent of the fina
est rate spreaecreasing afte% and MENA11 with the d
ctor as a %
rdan or in thehe existence ubject the Pricentrated. (i.h as crop lossthe existencen, lower risk
well as extern
all loan data in
h, 2012
from $1.65 bi
d LT2 as of D
Private Sector Loans
as % of WB GDP
3.9% 6.0% 8.9%
the next sche
rate on loanis indicator ristics of the political pres
mechanisms; mncial marketssign of ineffancial market
ad in Iraq waser highs reachA average ofdeparture of
of total cre
e USA, conceof any conc
ivate Baking se. high conces from weathe of a concen. Through trnal improvem
n calculating L
illion USD in
Dec 31, 2010
Private Sector
Loans as % of CBI
GDP 2.6% 3.3% 5.0%
eduled quarte
ns to prime creflects the ceconomy; thssures or comarket powes; and, high oficiency in thets.
s 7.65%, dowhed in 2007 af about 4%. f internationa
edit provide
entration of ccentration of sub-sector toentrations ofer, disease an
ntration of crraining and ements like e
LT1 an LT2
28
n 2009 to
0.
Private Bank Loans as a % of All Loans 28.9% 41.5% 33.8%
erly M&E
customers combined he cost of orruption; er in the operating e banking
wn from a and 2008, It will be
al military
d by the
credit is a f credit in o the risks f credit in nd insects edit, high education electricity,
USAID/F
security particula The basesector (5under 11building 2009. P1: Lodeposit The Loa(Loan to(convertdevelopedeposit rinternati The calcprivate bstate-owhoweverof DecemBy includistortio USAID
PERFOR
OVERV
It appeareportedappears tfew weemanagemLLC to ahave also The issumemberline Minin Iraq mUSAID up of the
inancial Deve
and infrastrar sector of th
eline year, 2057%). At th1%. The cloand construc
oans by Prts held by t
ans to the privo Deposit Rting deposits ed countries ratios over wonal benchm
culation of thibanks becaus
wned bank depr data for botmber 31, 201
uding the privn becomes cl
and proj
RMANCE (O
VIEW OF CO
ars that the cd in the previoto have resol
eks of April ment is beinga joint stock o softened th
ues with the Pship includesisters. As it may make foand Project Me task force.
lopment Proje
ructure this he Iraq econo
010, showed he other end osest sector rction. The ov
rivate Bankhe commer
vate sector aRatio) is a v
to loans) tha loan to d
well over 100%marks directly
is indicator rase prior to 20posits distortth deposits an10, the loan tovate sector dlearly evident
ject manag
OUTPUT) IND
OMPONENT 1
critical areas ous quarterlylved registrati2012. Also,
g addressed bcompany, w
he position of
Public-Privates representatwas at the enorward progrManagement
ect: Quarterly
distribution omy.
extremely higof the scale,
recipient of cver-all standa
ks to the prcial banki
s a percent overy strong ihat is taking
deposit ratio% are not unccorrelates to
atio includes 010 this was ts the loan dend loans is noo deposit ratieposits at thet: 20.81%.
gement sho
DICATORS B
1
in componey report are wion issues tha, the previou
by the ownerswhich will alsof one disgrun
e task force rtives from thnd of the preress with thet to determin
y Report – –Ja
should leve
gh concentra, Agriculture credit was soard deviation
private sectng sector (L
of private sectindicator thag place in thof 65-70% i
common. A o ineffective f
the private sthe only relia
eposit ratio foow available, io of the prive state-owne
ould discuss
BY COMPON
ent 1 in regawell on the waat will cause tusly reporteds and will be o afford unlimtled founding
remain unchahe private secevious quartere Task force ne if this activ
nuary – March
el out and b
ation of crediwas at 1.35
cial services across all sec
tor as a peLoan to De
tor deposits oat reflects thhe Commercis consideredlow loan to d
financial inter
ector depositable data tha
for only the pimproving th
vate banking d banks in th
s this ind
NENT
ards to the Fay to be resolthe paid-in cad critical wearesolved by cmited membeg member.
anged. Per thctor and Govr the appearadifficult, if
vity should b
h, 2012
become less
it in the who%, building at just underctors was 17%
ercent of toeposit Ratio
of the Commhe actual fincial Banking d an acceptadeposit ratio rmediation.
ts held at statat was availabprivate bankinhe usefulnesssector was anhe loan to de
dicator for
Federation olved. The Feapital to be reakness in owconverting thership/owne
he project covernment ofance political not impossib
be modified t
concentrated
lesale, retail aand construcr 16.68% fol%, down from
otal privateo)
mercial Bankinancial interm
sector. In able level, ye
relative to re
te-owned banble. This incng sector. As of this indicn unexpectedeposit calcula
possible
f Iraqi Privaederation maneleased within
wner rights tohe Federationrship. These
ntract the Taf Iraq, includ
uncertainty/ble. It will o re-define th
29
d in any
and trade ction was llowed by m 20% in
e sector
ing sector mediation
western, t loan to
egional or
nks AND clusion of s of 2010 cator. As d 52.58%. ation, the
changes.
ate Banks nagement n the first o oversee n from an e changes
ask Force ding front /upheaval be up to he make-
USAID/F
Indicato As of Mapproximbe a remsustainaband are dbeen relesustainabto movethe govewith resimprovemonitorepre-emp Indicato This indiapprovalmemberwill be rrecognitiprivate bFederatiolimitationmember Indicato Due to tYear 1, toriginal participamember Federatiobank thehas highmember Federatiothe repoposition Indicatoadvocac The Fedindustry
inancial Deve
or 1.1.2: Ba
March 31, 20mately $1.1 mmarkable achible entity to rdue to be releease, and arebility outlooke forward witernance issuepect to manment is immed very close
ptive actions c
or 1.1.3: Th
icator has bel, as an LLCs will be remreflected in tion by the Ubanks that areon. Once cns are remov banks and li
or 1.1.4: Ov
the registratioto measure omethod of m
ation in the bank, Dar on. Dar es e holds the ehlighted the satisfaction. on personnelorting periodand may not
or 1.2.1: cy campaign
deration has in Iraq. Wit
lopment Proje
ankers Assoc
012, the Fedmillion USD. ievement, anrepresent theeased in Aprie not availablk of the Fedeth conversiones. As a resunagement’s usminent, bothely to insure tcan be taken
he number o
come irrelevaC and not an moved with th
the PMP indUnion of Arabe not currentconverted toved, the targemited only by
verall Memb
on of the Feowner satisfacmeasurement,managementes Salaam hSalaam’s diss
escrow of Fecritical connThe concern
l during the 2d, Dar es Salt withdraw its
Number ofns and publi
started to puth the beginn
ect: Quarterly
ciation Fina
deration of P As previousd clearly dem
e private bankil 2012. At thle to be usederation muchn to a joint stult, the sharese of the inv
h the access that the expeto mitigate an
of Institution
ant due to thassociation,
he conversiondicator once b Banks andtly members, o a Joint Stoet for this willy the number
ber Satisfact
ederation as action, which , a satisfactiot of the Fedhas verbally esatisfaction aederation fun
nection betwens raised by D2nd quarter anlaam is repos support and
f policy resic education
ublish a monning of this p
y Report – –Ja
ancial Sustai
Private Banksly reported, tmonstrates thking sector. The end of thisd for developh more posititock companeholders will vestment fun
to, and useected performny problems
nal Owners o
he fact that thas originally
n from an LLthe conversi
d the Turkishhave begun
ock companyl need to be r of private b
tion of Bank
a for-profit Lis more accu
on survey, haderation. (Seexpressed itss a member
nds and has been governanDar es Salaamnd are expectorted by the d membership
search docun measures
nthly newslettpublication, m
nuary – March
inability
ks had verifiethis investme
he members’ The funds ars reporting pepment activitive. Equally ny legal struct
then have cnds. Thoughe of Federatimance estimathat may aris
of the Feder
he Federationy intended. LLC to a Joint ion is compl
h Bank Assocto indicate a
y and the pradjusted to r
banks licensed
kers Associa
LLC, this indurate under thas been chanee PMP PIRs dissatisfactiraises a uniqubeen unwillinnce and fina
m have been ated to be resoFederation t
p after all.
uments, pu
ter to dissemmeasurement
h, 2012
ed paid in sent by membcommitmen
e being held eriod, howeveties. This depositive is thture that will
considerably mh these efforion funds ar
ates are accurse.
ration of Priv
n was registereLegal limitatio
Stock compaleted. Follociation, the ga very strong reviously meeflect the grod in Iraq.
ation effectiv
dicator was che circumsta
nged to measuRS). It shoul
ion with theue problem ang to release nce operatio
addressed by olved very soto have con
blic-private
minate informof this indic
shareholder eber banks connt to the crea
in an escrower, the funds velopment mhe Federationl significantlymore direct rts indicate sre neverthelerately reporte
vate Banks
ed, with USAons in the nuany and the cwing the Fe
greater majoriinterest in jo
entioned memowing interes
veness
changed at thnces. As a ruring membeld be noted e managemenas it also servthem. This
ons performacognizant Pron. As of thsiderably sof
e dialogue
mation on theator began in
30
equity of ntinues to ation of a
w account, have not
makes the ns efforts y improve oversight ignificant ess being ed so that
AID prior umber of change in derations ity of the
oining the mbership
st of non-
he end of result, the ers active that one
nt of the ves as the
situation ance with roject and he end of ftened its
sessions,
e banking n the first
USAID/F
quarter oanticipatvalidates2012 to indicatorquarter. Indicatobringing Work cosector infrom theformed progresssubject tmanagemTask For IndicatoAssociaassistan As reporbanking the projeby RegioBeirut, Land will the FedeBank Asfor Iraq shown in Indicatoidentifie EffectingIraqi wilaction ththrough The M&formal, mproject.
inancial Deve
of FY 2012.ted policy mes the target.
assist in exr and will as
or 1.3.1: Nug about nece
ontinues on tn Iraq. At te last quarterin the near
s further. Thto sudden anment are warrrce to move t
or 1.4.1: tion(s) and
nce.
rted last quarassociations
ect-sponsoredonal relationsLebanon whe
serve as the eration continssociation aim
Bank staff. ncreasing acti
or 1.5.1: Foed and refor
g policy, legall take time. hat is expecteproject assis
&E office is emeasurable e
lopment Proje
The targeteetings with CAdditionally
xpanding the ssist in the im
umber of Pessary chan
the establishmthe end of thrly report. Wfuture, the p
here is particud unexpectedranted to resthis activity f
Number d Regional
rter, The Proon both the d CBI conferships initiateere the Feder
primary connued those efmed at increas
Though thivity, no new
our to Five rm efforts in
al, regulatory The Legal/
ed to have mtance, four pxpecting thatefforts that w
ect: Quarterly
t for the yeaCBI and othe, the project capabilities
mplementatio
ublic-Privatges in the co
ment of the phe reporting While projectpolitical unceular concern d whims of tholve the imp
forward and a
of official and Intern
oject assisted internationalrence held in
ed at the annration was nanduit for Iraqffort by layingsing businesse process of
w linkages wer
targeted ponitiated.
y and/or adm/Regulatory C
measurable respriority reformt the legal/rewill be initiat
y Report – –Ja
ar is 12 docuer GoI minismobilized a of the Fede
on of the Fe
te Task Forommercial b
public-privateperiod, howet personnel r
ertainty that pthat critical Ghe President.asse or possiavoid continu
linkages enational Ba
the Federatiol and regionan Istanbul, Tunual meeting amed the offiqi private bang the ground s ties as well af developing re made durin
olicy, legal,
ministrative rCommittee tsults within thms have beenegulatory comted, new indi
nuary – March
uments, dialotries, the starcommunicat
eration to mederation’s c
rce events cbanking sect
e task force tever, the Tasremain optimprevails withGoI minister. Further disibly redefine uing delay.
established ankers asso
on to initiateal levels. Inteurkey, in Dec
of the Unioicial voice of nking relationword for fut
as establishinthe relations
ng this report
regulatory
reforms in a he Federatiohe next year.n selected for
mmittee of thicators added
h, 2012
ogue sessionsrt of regular ntions STTA c
make additioncommunicatio
carried out tor.
to focus on rsk Force issumistic that thhin the GoI s are subject scussions withthe participan
between tociations as
e linkages witernational linkcember, 2012on of Arab BIraqi private
nships in theture collaborang training opships establisting period.
or adminis
transitional on has been Of the 36 rer further actioe Federation d to the PM
s, etc. Coupnewsletter puconsultant in
nal progress on policy in
for the pu
reforming theues remain unhe Task Forccould very wto frequently
h USAID annt compositio
the Iraq Bs a result
th the UAB akages were fo2. This was Banks (UAB
e banking by region. Thiation with thepportunities ished past qu
strative refo
environmentformed and eform areas ion plan devewill soon ide
P and tracke
31
pled with ublication n January, with this the next
rpose of
e banking nchanged ce will be well delay y change,
nd project on of the
Banker's of USG
and other ostered at followed
B) held in the UAB is quarter e Turkish in Turkey uarter has
orms are
t such as is taking
identified elopment. entify the ed by the
USAID/F
OVERV There arassociatecompletibanking There isSystem. had the raised quSystem. it nevertwill contmonitore Indicatoa credit There arthe first
1. 2. 3.
The remof which
4.
5.
6. 7. 8.
With theadvisor, reportingsubmittethe third(#6). Texpected IndicatoInstitute Having cin Year
inancial Deve
VIEW OF CO
re five indiced with: estabing phase II osystem. Eac
a critical de The delay isRFP documeuestions abou Though the
theless remaintinue to pushed and imme
or 2.1.2: Mt bureau ope
re 8 milestonthree years oPublic-privatGOI CommiIraqi Driven
maining five mh are in the U
Legal and RNeeded ChanPublic Educathe FinancialSources of DLegal and ReCredit Burea
e departure oprogress on g period, #4ed to CBI ford quarter and Though the dd in the 3rd q
or 2.2.1: Me that is sust
completed D2 which are
lopment Proje
OMPONENT
cators with tblishing an Irof an efficien
ch of the indic
elay being exps the result ofents availableut the legalityproject advis
ns an area of h completion ediate action i
Milestones to erational.
nes toward acof the project.te Steering Coitment ConfiCredit Burea
milestones beUSAID appro
Regulatory Rnges Draftedation Campal Sector – D 2
Data and Dataegulatory Reqau Operations
of the Technyear two del
4 is expectedr approval. LIT personne
delay is causequarter.
Milestones totainable and
D2.2.1, The B direct proje
ect: Quarterly
2
targeted prograq Credit infnt retail paymcators being
perienced byf the Central e since Decemy of the CBI’sor and sub-c
f concern thatof Phase II
is being taken
putting the
chieving a ful. In year 1, mommittee forirmed au Business P
elow are to bved work pla
Requirements d - D 2.1.4, yeign(s) Launch2.1.5, year 2a Requiremenquirements fos Initiated – D
nical Advisor liverables hasd to be comLikewise, the
el are workinge for concer
o measure thd an effectiv
usiness plan ect deliverabl
y Report – –Ja
gress in yearformation bu
ment system atracked in thi
y the project Bank of Iraq
mber 2012 ans authority tocontractors ht is beyond thback further
n whenever a
e legal and r
lly functionalmilestones 1-3r Design of C
Plan and Mod
e completed an:
for Credit Bear 2 hed to Inform
nts for Launcor Credit BurD 2.1.7, year
for the Creds been delaye
mpleted in thee public educg on resolvingn, measurabl
he steps necve industry t
and model foles: D2.2.2
nuary – March
r 2 of the preau, an Iraq
and submittinis regard are
on the implq’s failure to nd still have o issue the RFhave been asshe direct conthan expecte
and however
regulatory fr
l Iraqi credit 3 were compl
Credit Bureau
del Develope
in years two
Bureau Iden
m Public Ab
ch of Credit Breau are imple4
dit Bureau aced until the ne 3r quarter
cation campaig the issues wle progress o
cessary to etraining mec
for the BTI, iThe Bankers
h, 2012
project for coqi Bankers Trng an RFP todiscussed bel
ementation oissue the RPnot issued thFP and goveisting the CB
ntrol of the pred. This priopossible.
ramework i
information leted:
u Established
d
o, three and f
ntified and R
out the Role
Bureau Resolemented – D
ctivity along next quarter.
rather than ign (#5) has
with data souron both indi
stablish Thchanism.
n year 1, thers Training In
omponent 2 aining Institu the CBI for low.
of the Retail PS RFP. Thehe RFP. Thern the Retail
BI to resolve roject. Furthority situation
n place and
bureau sprea
four of the p
Recommenda
of a Credit B
lved – D 2.1.6 2.1.7, year 3
with the pro As of the enthe 2nd andbeen resche
rces and requicators is nev
e Bankers T
re are three institute is est
32
that are ute (BTI), a CORE
Payment e CBI has e CBI has
Payment the issue,
her delays n is being
d making
ad across
roject, all
ations for
Bureau in
6, year 3
oject legal nd of the d will be duled for uirements vertheless
Training
indicators tablished;
USAID/F
D2.2.3 Tother ba All partieBTI. Hobe identi1999, Cerecogniz Regardlealong wiprivate curriculu Indicato Until thecalculatebegin fosustainab Indicato There arsub-activ
a) co
b)
c)
d)
e)
f)
g)
a) op
i
i
iii
inancial Deve
Training of Tnk training in
es to the BTIowever, untilified as beingenters for Bazed as a legal
ess of the foith MS Officand state-ow
um being add
or 2.2.1a: B
e BTI is opeed at this timormal operatibility ratio to
or 2.3.1b: Ph
re 19 milestovities of two p
2.3.2.1-
Develop a donceptual spe
) Draft terms
Agree RFP p
Assist with p
Refine and c
CBI Invite P
Support CB
2.3.2.2- E
Conduct Opperations team
i prepare train
ii Preparing s
i Suspicious
lopment Proje
Trainers and nstitutes estab
I are activelyl the BTI is fg “establishedank Studies bentity. A leg
ormal “establce for Bankerwned bank, ded, progress
Bankers Tra
erational inclume. However
ions before be estimated
hase II Com
ones to mark primary work
Participate
detailed statemecifications
and conditio
process with
preparations
complete RFP
Proposals and
I in the revie
Enhanceme
perational Rem
ning materials
statistical data
transaction
ect: Quarterly
Curriculum blished.
y working to fully staffed ad”. The lega
but it remainsgal review/op
lishment of trs and Englis195 attendeis moving fo
ining Institu
uding a verifir, the BTI stathe end of
d and tracked
mpleted (RPS
progress fork plan activiti
in the Selec
ment of requi
ons for RFP
CBI
of a request
P document
d Issue RFP (
ew of proposa
ents of the IP
eadiness Train
s
a from I PS s
reporting - re
y Report – –Ja
Developmen
staff the BTIand operational status of ths unclear if t
pinion should
the BTI”, thsh for Bankinees, more thorward with th
ute Sustaina
fiable accountaff expect to the year wh
d.
S)
r the compleies as shown
ction Proces
irements for t
for proposals
(listed in WP
als from prov
PS Infrastru
ning(s) for C
systems
esponsibilitie
nuary – March
nt Underway;
I and establisnal with its owhe BTI is estthere is more be obtained
he first TOTng courses whan 65% wohis deliverabl
ability Ratio
ting system, have a fully
hich will the
etion of Phasin the follow
s of a Natio
the National
s (RFP)
but work do
viders
cture to Sup
CBI / System
s, detection,
h, 2012
; and, D2.2.4
sh office and wn bank accotablished by e that is needto verify this
training couwith significanomen. Coule and milesto
o
the Sustainabfunctional acn allow for
e II of the Rwing table:
nal Switch P
Card Switch
one by CBI)
pport Retail
m Operator M
action
4 Regional lin
training spacounts, the BTvirtue of Law
ded for the Bs issue.
urses were cont participatioupled with aones.
bility Ratio cccounting sya reasonably
RPS in year 2
Provider
based on the
Banking
Management a
33
nkages to
ce for the TI cannot w #36 of BTI to be
ompleted on by the additional
cannot be ystem and y reliable
2 that are
e
and
USAID/F
iv
v
vi
vii
vii
b)
i
ii
As of thproblemRFP andunder acdependeto releasWith ba(D2.3.2- the CBI or even s Indicatoissued fo This inddeliverab
1.
2. 3. 4.
5.
6. 7.
During tInformato go dir
5 This Intmodifyin
inancial Deve
v Storage of
v System Rul
vi Managing p
i Setting age
ii Business /
) Grant Fund
Business mo
Study tour r
he end of them comes from
d award of activity 2.3.2.
ent upon the se the RFP warely more th
Achievemendelays. A m
second quart
or 2.4.1: CBfor bid5
dicator is alsble of the pro
Draft Requefor Central bIncorporate Issue RFI, anCreate IT assobtain informObtain approand execute Translation oSubmit the A
the preparatition (RFI) prrectly to draft
termediate Reng or issuing th
lopment Proje
sensitive data
les and their
participation
nt, merchant
Pricing mod
ded Training (
odel for bank
e operational
e reporting pm delays in tha contract, a 2. Howeveaction of the
will adverselyhan three mnt of phase 2
more realistic ter of FY 201
BI has a com
o a direct coject. There a
st for Informbanks to gathstandard RFPnd analyze thsessment toomation to be oval from CBthe assessmeof the RFP (sArabic and En
ion for the Rrocess and mting and RFP
esults is only fhe RFP.
ect: Quarterly
a - data prote
maintenance
in MPS
t and subscrib
el, setting fee
(subject to G
ks
l and legal asp
eriod, 2.3.2.1e release of tvery critical
er, the succee Central Bany affect the n
months before2 tasks for thapproach is 3.
mplete Reque
contractual Inare 7 mileston
mation (RFI) ter informatioP sections alr
he responsesol to determin
included in tBI to assign rent. subject to timnglish version
RFP, the CBove forward
P and eliminat
for the prepara
y Report – –Ja
ection
e
ber terms and
es and charge
Grant Funding
pects of retai
1 a-e in the tthe RFP by thstep will hav
ess and timenk of Iraq to near-term proe the contrae retail paymto move a po
est for Propo
ntermediate nes to achiev
to distribute ton regarding tready approve
ne current IT the RFP esources to p
mely translation of the RFP
I has electedwith only theted number 3
ation of the RF
nuary – March
d conditions
es
g Approval)
il payment sy
table above hhe CBI, 2.3.2ve been achiely completiorelease the R
ogress to achact anniversa
ments system)ortion of the
osals for CO
Result, IR2.ve this result,
to companiestheir systemsed from revie
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perform the I
on service); anP to the CBI t
d to ignore oe RFP. This 3.
FP. It does no
h, 2012
stems
have been co2.1(f). With tieved and traon of this aRFP. Continuhieving this crary, it is unli will be achie
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4 but it notall in year 2:
s providing Cs, needed for ew of the RP
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that could b
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nt, train the re
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omit the Reely modified n
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34
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be
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OVERV
Compon3.1.3, 3.1shown incompon Indicatoregiona This indtrained othe Fedesponsorepeople (expectedto the PM Indicatomember As expebeen acctarget is Thoughtduring th IndicatoRegiona The year Indicatoorganiz There arThree PeducatorIndustryAssociatorganizaof the qu
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VIEW OF CO
nent 3 perfor1.6, 3.2.4, 3.3n the PMP asent 3 PMP fo
or 3.1.3: Nl/internation
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or 3.2.4: Nual/internatio
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or 3.3.1: Suational stru
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OMPONENT 3
rmance for y3.1, 3.3.1a ands 3.1.2. Exceor manageme
Number of nal Partner
directly intonal standardsaqi Private Bahree Pillars owomen) fro
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has had of its will remainr of FY 2012.
umber of paonal educati
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artnership agonal institut
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y Report – –Ja
on of milestoe end of the rational sectioom the CBI i
project are mndicator 3.1.3saggregation .
lty from Pas
3.1.2/F4.3.2-with USG assionent 3 proviBanking Systee and privathis indicator
eges of Eco
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ctivity: 1. Edof Cooperatiod by a Privates to the Joins its strategiJoint Councieted. On Jan
nuary – March
one 1, 2, 4 aneporting perin of the RFPis delaying co
measured by 3 is also sepaby Gender, t
artner Colle
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should be re
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h, 2012
nd 5 have beeiod. There reP for this delompletion.
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35
d. Steps 6 additional have been
F4.3.2-1), Indicator ted in the
ulum by
fessionals ent 1 and ederation
ed by 112 oration is ual update
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or 3.3.1a: Ns Co-funded
nt council is eLearning – Fiactivities are
or 3.3.1d: N iversity of Dr University d to be measu
lopment Proje
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Number of id by the priv
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ect: Quarterly
been met, su
nternships avate sector (
ngage in thisBanking) beinng so measur
Career Deve
hippensburg Career deve
the year on th
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ubject to on
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nuary – March
n-going activi
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rtner Colleg
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36
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3.3.1b
Centers of ell. Both .
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USAID/F
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OVERV
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VIEW OF FIN
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ntinued to puavailable tea
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NAGEME
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ontinue to be multi-entry vicess, the shor
VIEW OF FIN
Young, LLPcurred and p
lopment Proje
TIONISTR
NAL AC
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a challenge visitor visas. he visas requyear multipl
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NANCIAL, AD
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TAFFING
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for the projeith the suppoature of the v
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n audit on beraq in January
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ND ON
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ect. During threpresents a nel to exit awith the Mowe remain o
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ehalf of the Dy; the report is currently bany material
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DATE
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and re-enter oI directly anptimistic.
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chiefly for tApril. The pro
de mobile secthe Project t continues tsis and AEC
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SECURITY O
Defense Conassociated w
h, 2012
period the Md in the visa the country.
nd with poten
OPERATIONS
ntract Audit Awith this audid. While theregard to the ough Decemb
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37
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erations
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MAN On an SAs such,banking while awActing Pproject r The proAkram a
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ursue renewalteams from oect continuessis and AECO
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personnel teistrative Assi
ACT MA
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Invoiced as odate of this R
$13,693,6
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n April. The gal and Regt; and, Chris
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WWork P
An
lan Act
nnex A:
tivity Ch
hart – YYear 2
Jul-1
1
Au
g-1
1
Se
p-1
1
Oct
-11
No
v-1
1
De
c-1
1
Jan
-12
Fe
b-1
2
Ma
r-1
2
Ap
r-1
2
Ma
y-1
2
Jun
-12
I
D 1.1.1
1.1.1.1
a
b
c
1.1.1.2
a
b
c
1.1.1.3
a
b
c
d
D 1.1.2
a
i (131c)
ii (131d)
b
i (131e)
c
d (131f)
YR 2: Financial Sector Development Project: Work Plan - Year 2
One or More Industry Associations the Represents Effectively the Interests of the Private Financial Sector and is Self-Sustainable, as Measured by Financial Sustainability and Member Involvement and Satisfaction
Design Executive and Staff Development Plan with potential strategic alliance with the Iraq Financial Development Project Component 2's Bank Training Institute for relevant courses. Conduct annual review
Design Organization and Staffing Plan, with annual update
Design Business Development Plan, with annual update
Design Financial Plan, with an annual update
Canvas membership involvement and satisfaction with association activities and effectiveness
Recurring Activity
Year 2
In consultation with association, design basic Strategic Plan, with annual update
Formally present Strategic Plan to organization and gain approval
IR 1.1: One or More Industry Associations the Represents Effectively the Interests of the Private Financial Sector and is Self-Sustainable, as Measured by Financial and functional Sustainability and Member Involvement and Satisfaction
Based on assessment and gap analysis, formulate course of action to develop private bankers group
Strategic Plan targeting Institutional development, and sustainability of one or more industry associations(s).
Select private banking group (existing or new) to develop as advocate for the private banking sector
Negotiate Engagement Agreement or MoU Letter of cooperation with association(s) for technical assistance:
Identify existing private financial sector industry organizations
Conduct assessment to gauge each group's ability to advocate for, and assist in, developing the financial sector
Construct inventory of existing financial sector industry associations and conduct assessment to gauge their ability to advocate on behalf of the private financial sector
Develop Strategic Plan in tandem with Association(s)
Assist in developing Governance Plan, with annual review
Implement course of action to establish/strengthen organization
COMPONENT 1: Enhance the Advocacy Capacity of the Private Financial Sector
Activities
Perform gap analysis vis-à-vis international best practices for banking associations
Design Action Plans with clear roles and responsibilities defined, with quarterly updates
Construct and implement Financial Sustainability Plan
Construct and implement Operational Sustainability Plan
Page 1 Annex A‐ 2012 Work Plan Activities Schedule
Jul-1
1
Au
g-1
1
Se
p-1
1
Oct
-11
No
v-1
1
De
c-1
1
Jan
-12
Fe
b-1
2
Ma
r-1
2
Ap
r-1
2
Ma
y-1
2
Jun
-12
YR 2: Financial Sector Development Project: Work Plan - Year 2
Year 2Activities
D 1.2.1
a
b
D 1.2.2
1.2.2.1
a Recurring Activity
1.2.2.2
a
D 1.2.3
a
b
c
d
e
D 1.2.4
a
b
c
d
Training Plan targeted to build the advocacy capacity of the industry association(s) developed
IR 1.2: Stakeholder Organization's Capacity is Developed to Conduct Policy Research, Public PrivateDialogue, Advocacy, and Public Education Efforts to Achieve Targeted Priority Reforms
Association(s) carries out continual public education campaign
Association(s) convening regular sessions for public-private dialogue
Association conducts ongoing advocacy campaigns as situation warrants
Communications Strategy for Association(s) Developed
Develop Training Plan and update semi-annually
Train association to conduct policy research on a continual basis
Implement measures of advocacy training plan
Advocacy Training Plans Implemented
Forge strategic alliance with Iraq Financial Development Project Component 2's Bankers Training Institute to develop courses focused on advocacy for association(s)
Deliver sessions per schedule (TBD)
Conduct gap analysis of advocacy capacity within association(s) selected for assistance
Association(s) capacity is developed to conduct policy research, public private dialogue, advocacy and public education efforts to Achieve Targeted Priority Reforms
Develop mechanisms for collecting and distributing information and analyses on relevant financial sector entities issues
Design strategy to promote visibility of the Association(s)
Take action to implement communications plan
Determine schedule for delivery of courses and respective locations
Develop outreach programs and consultative process to assess and develop policy and other issues related to private financial sector
Create marketing tools and promotional materials
Page 2 Annex A‐ 2012 Work Plan Activities Schedule
Jul-1
1
Au
g-1
1
Se
p-1
1
Oct
-11
No
v-1
1
De
c-1
1
Jan
-12
Fe
b-1
2
Ma
r-1
2
Ap
r-1
2
Ma
y-1
2
Jun
-12
YR 2: Financial Sector Development Project: Work Plan - Year 2
Year 2Activities
D 1.3.1
a
b
c
d
e
f
g
h
D 1.3.2
a
b
c
dReview existing conditions within CBI as well as outside its purview deterring development/reform of the private financial sector
IR 1.3: A Process of Iraqi-led, Results Oriented, Private-Public Dialogue Among the Industry Association(s), the CBI, CoR, and Other GOI Entities is in Place and Sustained, as Indicated by Research Papers and Public Education Initiatives that result in Recommendations being Implemented
Recurring Activity
Regular review and update of agenda, action plans (at minimum quarterly)
GoI champions for association reform agenda identified and engaged
Identify key stakeholders in government and private sector with a role in private financial sector development
Construct White Paper on importance of developing private sector, in particular the private financial sector
Design preliminary structure for Private Financial Sector Development Task Force
Design Organization and Staffing Plan, with annual update
Design Executive and Staff Development Plan with potential strategic alliance with the Iraq Financial Development Project Component 2's Bank Training Institute for relevant courses. Conduct annual review
Design Business Development Plan, with annual update
Design Financial Plan, with an annual update
Create action plans, including specific tasks, clear roles, defined responsibilities and timelines to address selected barriers - MOVE TO YEAR 2
Hold regular working sessions with private bankers to identify, define and refine barriers to development of the sector
A prioritized reform agenda for financial sector reforms developed by Association(s)
Determine short, medium and long-term priorities for initial development agenda
Page 3 Annex A‐ 2012 Work Plan Activities Schedule
Jul-1
1
Au
g-1
1
Se
p-1
1
Oct
-11
No
v-1
1
De
c-1
1
Jan
-12
Fe
b-1
2
Ma
r-1
2
Ap
r-1
2
Ma
y-1
2
Jun
-12
YR 2: Financial Sector Development Project: Work Plan - Year 2
Year 2Activities
e
f
g
h
i
D 1.3.3
a
b
c
d
e
f
D 1.3.4
a
b
Recurring Activity
Develop contingency plans and alternatives for Blueprint, along with the process and timing to conduct regular updates (Year 2)
Communications plan implemented including the launch of a public education campaign to inform public about the role of banks in the economy
Convene Private Sector Development Task Force, consisting of key GoI and private financial sector stakeholders with goal of achieving long-term sustainability of group
Determine communication procedures with members and affiliates
Create public awareness campaign to educate public investors and the financial community about Association(s)' activities
Deliver and disseminate findings from White Paper and other research
Establish structure and support (including funding) to become self-sustaining
Jointly construct Blueprint for private financial sector development, based on reform agenda created by the Association
A process of Iraqi-led, results-oriented, private public dialogue among the industry association(s), the CBI, CoR and other GoI entities is in place and sustained, as indicated by he number of GoI/stakeholder communications and exchanges, conferences, publications, research papers and public education initiatives that result in recommendations being implemented.
Create and implement Public Awareness Campaign to disseminate White Papers and other relevant documents and information
Hold regular Task Force sessions to guide implementation of Blueprint
Coordinate with USG and other donors to integrate public outreach efforts with other economic development/reform efforts
Schedule programs and events for dialogue throughout the country
Develop program for media relations
Recurring Activity
Develop tailored approach and cultivate relationships with potential champions for private financial sector development within key GoI and private sector entities
Page 4 Annex A‐ 2012 Work Plan Activities Schedule
Jul-1
1
Au
g-1
1
Se
p-1
1
Oct
-11
No
v-1
1
De
c-1
1
Jan
-12
Fe
b-1
2
Ma
r-1
2
Ap
r-1
2
Ma
y-1
2
Jun
-12
YR 2: Financial Sector Development Project: Work Plan - Year 2
Year 2Activities
D 1.4.1
a
b
D 1.4.2
a
b
D 1.5.1
a
b
c
d
e
f
g
Review existing banking laws and determine areas for reform/development
Recurring Activity
Recurring Activity
Establish communications with international banking organizations
Recurring Activity
Review existing NGO laws vis-à-vis industry associations
IR 1.5:Four to five targeted policy, legal, or regulatory reforms with all the administrative changesneeded for successful implementation to expand financial sector intermediation, that the private banking industry, or private banking sector representative body (if applicable), agree will be supportive to development in the sector
Visits to regional banking organizations to profile international best practices and foster linkages
Tap universities with focused banking and finance programs to link with private banking association
Regional and International Linkages Established With Other Associations and Industry Groups
IR 1.4: Regional and International Linkages with Other Such Associations Established
Recurring Activity
Assist in ushering proposed enactments through legal/regulatory process through to implementation
Assist Association and Task Force in enlisting support of key advocates inside and outside government
Assist association in crafting legislation, regulations, instructions for submittal to appropriate government entity
Four to five targeted policy, legal, or regulatory reforms with all the administrative changesneeded for successful implementation to expand financial sector intermediation, that the private banking industry, or private banking sector representative body (if applicable), agree will be supportive to development in the sector
Association Linkages to University Programs Established
Association to assist in promoting internships for graduates from new banking and finance programs developed by Component 3
Identify priorities in tandem with Association and Task Force
Determine legislative /regulatory process required to obtain approval
Recurring Activity
Page 5 Annex A‐ 2012 Work Plan Activities Schedule
Jul-1
1
Au
g-1
1
Se
p-1
1
Oct
-11
No
v-1
1
De
c-1
1
Jan
-12
Fe
b-1
2
Ma
r-1
2
Ap
r-1
2
Ma
y-1
2
Jun
-12
YR 2: Financial Sector Development Project: Work Plan - Year 2
Year 2Activities
II
D 2.1.1
a
D 2.1.2
a
b
c
d
e
f
g
D 2.1.3
a
b
c
d
e
f
GOI Commitment Confirmed in writing in a manner acceptable to both CBI and USAID
Establish Project Working Group
Government of Iraq Commitment Confirmed
Capacity Development Study Tour for Steering Committee Members
Secure Donor Partner Cooperation
Develop Business Plan
Legal Assessment
Recurring Activity
Iraqi Driven Credit Bureau Business Plan and Model Developed
Information Technology Infrastructure Assessment
Business Plan Dissemination Workshops
Two Roundtable Events
Two Open Seminars
Establish Credit Information Services Steering Committee
Market Survey
Steering Committee reaches consensus on the form, structure and establishment of the Credit Bureau
Cooperate with National Investment Commission to Publish and Promote the Business Plan
Public-private Steering Committee for Design of Bank Training Institute and Credit Bureau Established
COMPONENT 2: Improve the Soundness of the Private Financial Sector Through Institution Building and Targeted Reforms
IR 2.1: A Legal and Regulatory Framework for Establishing a Credit Bureau is in Place and a Credit Bureau is Operational
Page 6 Annex A‐ 2012 Work Plan Activities Schedule
Jul-1
1
Au
g-1
1
Se
p-1
1
Oct
-11
No
v-1
1
De
c-1
1
Jan
-12
Fe
b-1
2
Ma
r-1
2
Ap
r-1
2
Ma
y-1
2
Jun
-12
YR 2: Financial Sector Development Project: Work Plan - Year 2
Year 2Activities
D 2.1.4
a
b
c
d
D 2.1.5
a
b
c
d
e
f
g
h
D 2.1.6
a
b
D 2.1.7
D 2.1.8
D 2.1.9
Develop an action plan to include MFI data as part of CBI Registry
Sources of Data and Data Requirements for Launch of Credit Bureau Resolved
Two credit information seminars and toolkit for economic/ financial journalists
A Legal and Regulatory Framework for Establishing a Credit Bureau is in Place and a Credit Bureau is Operational
Initiate public awareness, customer care and media relations function within CBI Registry
Target twenty media mentions annually (press, audio, and visual)
Recurring Activity
Develop and launch CBI Registry website
Draft and approve CBI regulations to govern credit information sharing
Draft and approve consumer rights' charter
Public Education Campaign(s) Launched to Inform Public About the Role of a Credit Bureau in the Financial Sector
Legal and Regulatory Requirements for Credit Bureau Identified and Recommendations for Needed Changes Drafted
Develop promotional material in conjunction with CBI and commercial banks
Initiate customer care hotline
Legal and Regulatory Requirements for Credit Bureau are in Place
Conduct Train of Trainer workshops for Registry customer care staff
Draft and approve registry subscriber code of conduct
Develop commercial bank data validation program
Implement the use of customer consent forms with all registry subscribers
Awareness workshops for frontline credit staff at commercial banks (three workshops 2011 - 2012; two workshops annually thereafter.
Credit Bureau Operations Initiated
Page 7 Annex A‐ 2012 Work Plan Activities Schedule
Jul-1
1
Au
g-1
1
Se
p-1
1
Oct
-11
No
v-1
1
De
c-1
1
Jan
-12
Fe
b-1
2
Ma
r-1
2
Ap
r-1
2
Ma
y-1
2
Jun
-12
YR 2: Financial Sector Development Project: Work Plan - Year 2
Year 2Activities
D 2.2.1
a
b
2.2.1.1
a
b
D 2.2.2
a
b
c
D 2.2.3
a Recurring Activity
b
c
D 2.2.4
D 2.2.5
D 2.2.6
D 2.2.7
D 2.2.8
Bank Training Institute Expands Number of Courses Offered
Curriculum Development (continuous activity)
Recruit and Mobilize Trainers
Begin TOT Training courses
Finalize a White Paper on the Bank Training Institute Establishment
Bank Training Institute Established and Sustainable with Program Courses and Materials, Training of Trainers, etc.
Appoint the Mangement Board of the BTI
Proceed through the institutionalization state of BTI Establishment
Implementation plan for Institute Establishment formalized and signed-off by all parties
Development of implementation plan
Regional Linkages to Other Bank Institutes Established
Process through the foundational and institutional development phases of BTI Establishment
Bank Training Institute Continues to Expand its Number of Courses Offered
IR 2.2: A Sustainable Organization/Partnership for Providing Financial Sector Training and Professional Development is Established and Able to Deliver Courses Based on International Standards and In Response to Financial Sector Requirements
Business Plan and Model for Bank Training Institute
Recurring Activity
Bank Training Institute Established
Bank Institute Starts Offering Certificate Programs
Complete implementation plan for Institute establishment
Training of Trainers and Curriculum Development Underway
Steering Committee reaches consensus on the form, structure and establishment of the Bankers Institute
Page 8 Annex A‐ 2012 Work Plan Activities Schedule
Jul-1
1
Au
g-1
1
Se
p-1
1
Oct
-11
No
v-1
1
De
c-1
1
Jan
-12
Fe
b-1
2
Ma
r-1
2
Ap
r-1
2
Ma
y-1
2
Jun
-12
YR 2: Financial Sector Development Project: Work Plan - Year 2
Year 2Activities
D 2.3.1
2.3.1.1
a
b
c
d
e
f
g
h
i
j
D 2.3.2
2.3.2.1
a
b
c
d
e
f
g Support CBI in the review of proposals from providers
Refine and complete RFP document
CBI Invite Proposals and Issue RFP (listed in WP but work done by CBI)
Develop a detailed statement of requirements for the National Card Switch based on the conceptual specifications
Agree RFP process with CBI
Draft terms and conditions for RFP
Participate in the Selection Process of a National Switch Provider
Draft revised regulations as necessary
Achievement of Phase 2 tasks for the Retail Payments System
IR 2.3: A Comprehensive Retail Payments System is Operational and a Solution for a National Switch Model is Proposed
Achievement of Phase 1 of the Retail Payment System
Assist with preparations of a request for proposals (RFP)
Arrange for translation of drafts into Arabic and agree with CBI legal department
Review implementation and report to CBI
Develop recommendations for corrective action in consultation with CBI legal department
Identify topics to put into law versus those which should be left open for CBI to regulate
Review and modify draft regulations based on input from CBI legal department and expertpayment systems lawyers and CBI payments department
Development of Regulatory support for the Iraq Payment System (IPS) and its Retail Banking support Infrastructure
Examine existing laws and regulations to identify problems, weaknesses and gaps
Identify technical standards that need to be mandated in regulations
Examine current governance situation and advising on the form of a national payments council in interbank working groups for the future development of IPS
Review similar regulations used in other countries
Page 9 Annex A‐ 2012 Work Plan Activities Schedule
Jul-1
1
Au
g-1
1
Se
p-1
1
Oct
-11
No
v-1
1
De
c-1
1
Jan
-12
Fe
b-1
2
Ma
r-1
2
Ap
r-1
2
Ma
y-1
2
Jun
-12
YR 2: Financial Sector Development Project: Work Plan - Year 2
Year 2Activities
2.3.2.2
a
i
ii
iii
iv
v
vi
vii
viii
b
i
ii
a
i
ii
iii
iv
v
vi
vii
D 2.5.3
a
b
c
Setting agent, merchant and subscriber terms and conditions
Business / Pricing model, setting fees and charges
Grant Funded Training (subject to Grant Funding Approval)
Conduct Operational Readiness Training(s) for CBI / System Operator Management and operations team
Managing participation in MPS
prepare training materials
Enhancements of the IPS Infrastructure to Support Retail Banking
Business model for banks
Study tour re operational and legal aspects of retail payment systems
IR 2.4: CBI has a complete Request for Proposals for a CORE system that could be used for bid
Technical Assistance for the specifications and writing of a Request for Proposal (RFP) for the CBI to procure replacement Core Banking Software
Achievement of Phase 1 for the Data Repository System
Develop and Implement an "Education and Awareness" plan of the new reporitng requirements within the reproting entities and CBI StaffDevelop and implement a knowledge transfer processes for CBI IT staff to manage the Reporting framework (perform admin functions, ad/edit/delete user/group roles, perform certain support functions, etc.)Develop and implement a knowledge transfer processes for CBI IT Banking staff to use the system, interpret the reporting contents and make valid conclusions.
IR 2.5: CBI staff is trained on the new Centralized Data Repository reporting requirements and canmanage the system.
Draft Request for Information (RFI) to distribute to companies providing Core Banking Systems for Central banks to gather information regarding their systems, needed for inclusion in the RFP
Incorporate standard RFP sections already approved from review of the RPSI RFP
Issue RFI, and analyze the responses
Create IT assessment tool to determine current IT status at CBI main offices and branches, to obtain information to be included in the RFPObtain approval from CBI to assign resources to perform the IT assessment, train the resources, and execute the assessment
Translation of the RFP (subject to timely translation service)
Submit the Arabic and English version of the RFP to the CBI to issue the solicitation.
Preparing statistical data from I PS systems
Suspicious transaction reporting - responsibilties, detection, action
Storage of senstive data - data protection
System Rules and their maintenance
Page 10 Annex A‐ 2012 Work Plan Activities Schedule
Jul-1
1
Au
g-1
1
Se
p-1
1
Oct
-11
No
v-1
1
De
c-1
1
Jan
-12
Fe
b-1
2
Ma
r-1
2
Ap
r-1
2
Ma
y-1
2
Jun
-12
YR 2: Financial Sector Development Project: Work Plan - Year 2
Year 2Activities
D2.5.4
a
b
Achievement of Phase 2 tasks for the Data Repository System
Develop and implement a rollout plan to deploy the solution to all reporting entities
Create and maintain a Help Desk function for all users until one month after roll out is complete.
Page 11 Annex A‐ 2012 Work Plan Activities Schedule
Jul-1
1
Au
g-1
1
Se
p-1
1
Oct
-11
No
v-1
1
De
c-1
1
Jan
-12
Fe
b-1
2
Ma
r-1
2
Ap
r-1
2
Ma
y-1
2
Jun
-12
YR 2: Financial Sector Development Project: Work Plan - Year 2
Year 2Activities
III
D 3.1.1
a
b
c
d
e
f
g
h
i
j
D 3.1.2
a
b
c
d
e
f
Compile a comprehensive list of all Iraqi educational institutions with a College of Economics and Administration
Gap Analysis of At Least Two Existing Business and Finance University or College Programs Conducted
IR 3.1: Two or More Business Schools/Universities Offering Business and Finance Degrees Based on International Standards
Upgrade existing finance and business programs and introducing new programs. Conducting faculty training, upgrading course materials, introducing international standards for program administration and accreditation, facilitating partnerships with regional and US universities
Short-list universities meeting strategically agreed upon criteria and/or with a more active College of Economics and Administration
Introduce the Iraq Financial Sector Development Program and the key personnel to the MoHE and discuss modalities of cooperation
Select an AACSB-accredited partner university in MENA to subcontract the Gaps Analysis
Identify a sample of financial institutions for the Gaps Analysis
Conduct a survey of selected financial institutions to identify skills desired of graduates of Colleges of Economics and Administration (as a part of the Gaps Analysis)
Conduct a survey of existing pedagogy and curricula at shortlisted Colleges of Economics and Administration (as a part of the Gaps Analysis)
COMPONENT 3: Improve the Quality and Availability of Finance and Business Education
Sign an MOU with the MoHE (elaborating the composition and responsibilities of the Steering Committee to facilitate the implementation of Component 3 of the Program)
Select at a minimum two Colleges for continued partnership in curricula/program and faculty development through the life of the Program
Document any existing cooperation between financial institutions and Colleges of Economics and Administration (as a part of the Gaps Analysis)
Sign MOUs with Partner Colleges
Conduct an in-depth qualitative survey of potential Colleges for partnership (subsequent to the Gaps Analysis)
Propose specific upgrades in the non-mandated part of the 'existing' curriculum for immediate implementation at Partner Colleges to bring the former up to international standards (subsequent to the GAPS Analysis)
Identify potential members of the Steering Committee of stakeholders in consultation with the MoHE
Hold one or two meetings of the Steering Committee
Recurring Activity
Establish linkage between the Steering Committee and Component 1 supported Financial Sector Organization
Page 12 Annex A‐ 2012 Work Plan Activities Schedule
Jul-1
1
Au
g-1
1
Se
p-1
1
Oct
-11
No
v-1
1
De
c-1
1
Jan
-12
Fe
b-1
2
Ma
r-1
2
Ap
r-1
2
Ma
y-1
2
Jun
-12
YR 2: Financial Sector Development Project: Work Plan - Year 2
Year 2Activities
g
h
i
j
k
l
m
n
o
p
q
r
D 3.1.3
D 3.1.4
D 3.2.1
a
b Facilitate Initial contacts between the selected Regional Partner and the Partner Colleges
Two or more business schools/universities offering business and finance degrees based on international standards
Facilitate the introduction, and monitor the implementation of the proposed changes by the Partner Colleges
Recurring Activity
Identify subject specialists to serve as trainers for incorporating curricula changes
Conduct TOT of selected subject specialists
Propose changes in the administration of finance and banking education programs at the Partner Colleges
At least two additional universities or colleges added as counterparts
Recurring Activity
Identify AACSB-accredited partner universities in MENA for long partnership (building on Activity 3.1.1.c.)
Result 3.2: Sustainable Mechanism in Place for Continuing Professional Development, Networking and Advocacy for Business and Finance Education
Regional and international linkages established
Identify upgrades to existing administrative practices at the Partner Colleges
Monitor the dissemination of acquired training by Subject Specialists to the rest of the faculty
Initiate a dialogue with the MoHE to Identify necessary changes in the MoHE mandated curricula in finance and banking to bring them up to international standards (subsequent to the GAPS Analysis)Propose new curricula/programs for Colleges to the MoHE Curriculum Committee for approval, pending approval by the MoHE
Begin dialogue with university administration of the Partner Colleges on requirements for international accreditation
Discuss with Partner Colleges the need for upgrading current faculty skills consistent with the proposed curricula/program changes in Activity 3.1.2Presentation by the Component 3 team to a select gathering of deans of the Colleges organized by the MoHE
Seminar by the representatives of the Executive Office of AACSB to the academic leadership of selected Colleges and the MoHE conducted (to be hosted by the Regional Partner University)
Recurring Activity
Recurring Activity
Page 13 Annex A‐ 2012 Work Plan Activities Schedule
Jul-1
1
Au
g-1
1
Se
p-1
1
Oct
-11
No
v-1
1
De
c-1
1
Jan
-12
Fe
b-1
2
Ma
r-1
2
Ap
r-1
2
Ma
y-1
2
Jun
-12
YR 2: Financial Sector Development Project: Work Plan - Year 2
Year 2Activities
D 3.2.2
a
b
c
D 3.3.1
a
b
c
D 3.3.2
a
b
c
D 3.3.3
Facilitate the setting up of the “Career Development Centers” within the Partner Colleges
Facilitate contacts between financial institutions and the Partner Colleges through the Council
Identify areas of cooperation between the financial sector and the Partner Colleges in support of professional development
Provide guidance and facilitate the formation of the Joint Council
Initiatives and pilots that support student opportunity, such as scholarships and internship programs, career development centers and entrepreneurship centers
Sustainable mechanism in place for university collaboration with private business and financial organizations
Undertake pilot placement of interns and award of limited number of small scholarships to the students of the Partner Colleges
Facilitate formal agreements between the financial institutions and the Partner Colleges for sponsorship of internships, scholarship programs, etc.
Sustainable mechanism in place for continuing professional development, networking, and advocacy for business and finance educationProvide guidance for the establishment of the association of business educators (the Syndicate)
Guide and monitor the registration and activities of the Syndicate
Involve the syndicate in the oversight of ongoing seminars and education provided by trained trainers (subject specialists)
Result 3.3: Sustainable Mechanism in place for University Collaboration with Private Business and Financial Organizations
Mechanism for cooperation between the private sector and at least two existing business and finance University or Colleges in place
Page 14 Annex A‐ 2012 Work Plan Activities Schedule
G
An
Grants A
nnex B:
Activity
Chart
Version 32
Component 1
Component 2Component 3
Yes No
GR‐C01‐002 Bankers Study Tour Sweden Sweden Sep‐11 $150,000 $40,000 New Banking
Association 7 days Yes 1.4 1
GR‐C01‐003Managing Director training for
Bankers Association Director
Association
Offices Sweden /
Lebanon
Oct‐11 $40,000 $5,000 New Banking
Association 2 weeks Yes 1.1 1
GR‐C01‐004Federation Site Rehabilitation
and Renovation 22‐Sep‐11 22‐Sep‐11 Baghdad Sep‐11 $110,730 $90,000 Private Bankers 3 Months No 1.1 1
GR‐C01‐005Federation Site Equipment Fit
Up22‐Sep‐11 22‐Sep‐11 Baghdad Oct‐11 $145,030 $2,000 Private Bankers 3 Months No 1.1 1
GR‐C01‐006 Federation Initial Staffing 25‐Oct‐11 25‐Oct‐11 BaghdadOct 2011 ‐ Dec
2012$199,800 $7,800 Private Bankers 1 Year No 1.1 1
GR‐C01‐007 FIPB Sponsorship in UAB Baghdad Nov‐11 $75,000 $2,300 FIPB 3 Months No 1.1 1
GR‐C01‐008FIPB Booth for UAB Annual
Conference25‐Oct‐11 25‐Oct‐11 Lebanon, Beruit Nov‐11 $25,000 $19,350 FIPB 3 Months No 1.1 1
GR‐C02‐001 Credit Bureau Study Tour 5‐Jun‐11 6‐Jun‐11 Lebanon, Beruit June 27‐ July 2 $37,155 $68,965 Central Bank of Iraq
(CBI) 5 days Yes
2.21
GR‐C02‐002Bankers Training Institute
Study Tour Nr. OneUK Mar‐12 $150,000 $40,000
Central Bank of Iraq
(CBI) 10 days No
2.21
GR‐C02‐003Bankers Training Institute
Study Tour Nr. Two
OMAN &
MalaysiaDec‐11 $155,435 $96,185
Central Bank of Iraq
(CBI) 7 days Yes
2.21
GR‐C02‐004Bankers Training Institute
Mock up BankBaghdad Feb‐12 $153,500 $3,500 Training Institute 1 year No
2.21
GR‐C02‐005Bankers Training Institute
Equipment Baghdad Jan‐12 $66,000 $4,000 Training Institute 1 year No
2.21
GR‐C02‐006Bankers Training Institute
Learning Resources CenterBaghdad Dec‐11 $151,500 $1,500
Training Institute
Learning Resource
Center
1 year No2.2
1
GR‐C02‐007 National Payments Council Baghdad Nov‐11 $144,886 $88,540 Central Bank of Iraq
(CBI) 1 year No
2.21
GR‐C02‐008 BTI Physical Plant Baghdad Feb‐12 $291,600 $40,000 BTI Baghdad 1 year No2.2
1
GR‐C02‐009 BTI Physical Plant Basrah Sep‐12 $214,800 $40,000 BTI Basrah 1 year No2.2
1
GR‐C02‐010 BTI Physical Plant Erbil Jan‐13 $189,600 $40,000 BTI Erbil 1 year No2.2
1
GR‐C02‐011 BTI Training Development Baghdad Sep‐11 $118,000 $3,000 BTI Baghdad 2 Months Yes2.2
1
GR‐C02‐012 BTI Training Development Basrah Jan‐13 $68,000 $72,000 BTI Basrah 1 year Yes2.2
1
GR‐C02‐013 BTI Training Development Erbil Jan‐13 $56,000 $63,500 BTI Erbil 1 year Yes2.2
1
Updated: 14 March 2012
Grants Forecast ‐ Iraq Financial Development Project
ApprovedIntermediate Results Codes (IR)
Does it require Mission Waiver?
Approximate Cost Sharing Amount (USD)
Estimated Amount from IFSD (USD)
Approximate timing
Location of ActivityDate USAID Approved
Grant Number (ex. GR-002-001)
Proposed Activity Date COP Approved DurationGoI Counterpart providing
Cost Sharing Estimate
Page 1 Annex B ‐ Grants Forecast
GR‐C02‐014Retail payments stream ‐
Maldives Maldives Dec‐11 $131,529 $72,065 CBI 4 Months Yes
2.21
GR‐C02‐015
Retail payments stream‐Study
visit to Istanbul for Bank senior
executives
Turkey Nov‐11 $173,569 $79,659 CBI 8 Months Yes2.2
1
GR‐C02‐016
Retail payments stream‐
Business modeling workshops
for CBI team‐Turkey
Erbil Oct‐11 $64,637 $42,506 CBI 4 Months Yes2.2
1
GR‐C03‐001AACSB for University of
Baghdad5‐Jun‐11 22‐Jun‐11 Baghdad Jul‐11 $10,550 $2,300 Baghdad University 1 years Yes 3.1 1
GR‐C03‐002AACSB for Mansour University
College5‐Jun‐11 22‐Jun‐11 Baghdad Jul‐11 $10,550 $2,300
Mansour University
college 1 years Yes 3.1 1
GR‐C03‐003AACSB for Mustansiriyah
University5‐Jun‐11 22‐Jun‐11 Baghdad Jul‐11 $10,550 $2,300
Mustansiriyah
University 1 years Yes 3.1 1
GR‐C03‐004Faculty Visiting Scholar / Study
ToursTBD TBD $30,000 $5,000 University #1 3 months Yes 3.2 0
GR‐C03‐005Faculty Visiting Scholar / Study
ToursTBD TBD $30,000 $5,000 University #2 3 months Yes 3.2 0
GR‐C03‐006Faculty Visiting Scholar / Study
ToursTBD TBD $30,000 $5,000 University #3 3 months Yes 3.2 0
GR‐C03‐007Visiting Scholars and University
Linkages ProgramIraq TBD $100,000 $20,000 N/A 1 year Yes 3.1 0
GR‐C03‐008International Department ‐
MoHE
Baghdad
UniversityJul‐11 $150,000 $40,000 Baghdad University 1 Year 3.1 0
GR‐C03‐009
Univ of Dubai ‐ Enhancement
of Availability and Quality
Improvement of Business
Management (specifically
Finance and Banking)
Education.
3‐Oct‐11 3‐Oct‐11University of
Dubai
Oct 2011 ‐ Dec
2012$486,803 $242,030 Baghdad University 1 Year Yes 3.1 1
GR‐C03‐010Shippensburg / Mansour
University Partnarship 3‐Oct‐11 3‐Oct‐11
Shippensburg
University Oct‐11 $499,436 $35,432 Mansour University 1 Year Yes 3.1 1
GR‐C03‐011
Finance Education Training and
Exchange Program to Improve
the Quality and Availability of
Finance and Business
Education in Iraq
James Madison
University $499,372 $35,432 Mansour University 1 Year Yes 3.1 1
GR‐C03‐012 MOHE and Deans Study Tour
James Madison ‐
Shippensburg ‐
Dubai
$46,254 $0 Ministry of Higher
Education 2 weeks Yes 3.1 0
Total $4,815,286 $1,316,664 Total Amount $6,131,950 10 19 Total of Yes/No Approved
Page 2 Annex B ‐ Grants Forecast
Grant Number (ex. GR-002-
001)Proposed Activity Description Location of Activity
Estimated Amount from IFSD (USD)
Approximate Cost Sharing
Amount (USD)
GoI Counterpart providing Cost
Sharing EstimateStart Date End Date Proposed End Date Duration
Does it require Mission Waiver?
GR‐C01‐004Federation Site Rehabilitation
and Renovation Baghdad $110,730 $90,000 FIPB September 26, 2011 December 15, 2011 3 Months No
GR‐C01‐005Federation Site Equipment Fit
UpBaghdad $145,030 $2,000 FIPB October 1, 2011 February 21, 2012 3 Months No
GR‐C01‐006 Federation Initial Staffing Baghdad $199,800 $7,800 FIPB October 20, 2011 December 20, 2012 March 1, 2013 1 Year No
GR‐C01‐008FIPB Booth for UAB Annual
ConferenceBeruit $25,000 $19,350 FIPB November 1, 2011 December 8, 2011 3 Months No
GR‐C02‐001 Credit Bureau Study Tour Beruit $37,155 $68,965Central Bank of
Iraq June 15, 2011 August 2, 2011 5 days Yes
GR‐C03‐001AACSB for University of
BaghdadBaghdad $10,550 $2,300
Baghdad
University July 14, 2011 July 15, 2012 1 years Yes
GR‐C03‐002AACSB for Mansour University
CollegeBaghdad $10,550 $2,300
Mansour
University July 14, 2011 July 15, 2012 1 years Yes
GR‐C03‐003AACSB for Mustansiriyah
UniversityBaghdad $10,550 $2,300
Mustansiriyah
University July 14, 2011 July 15, 2012 1 years Yes
GR‐C03‐009
Univ of Dubai ‐ Enhancement
of Availability and Quality
Improvement of Business
Management (specifically
Finance and Banking)
Education.
Baghdad $486,803 $242,030 Baghdad
University November 1, 2011 December 31, 2012 December 31, 2013 1years Yes
GR‐C03‐010Shippensburg / Mansour
University Partnarship Baghdad $499,436 $35,432
Mansour
University October 15, 2011 June 30, 2013 December 31, 2013 1 years Yes
Grants Total 10 $1,535,604 $472,477 Total Amount
Components Number of Grants IFDP Grant Amount
Grantee Contribution
Total Amount Percentage
Component 1 4 $480,560 $119,150 $599,710 29.86%
Component 2 1 $37,155 $68,965 $106,120 5.28%
Component 3 5 $1,017,889 $284,362 $1,302,251 64.85%
G. Total 10 $1,535,604 $472,477 $2,008,081 100.00%
$2,008,081
Approved Grants to date 14 March 2012
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
Component 1 Component 2 Component 3
Total Amount $599,710 $106,120 $1,302,251
30%
5%65%
Components' Share Percentage
Component 1
Component 2
Component 3
Page 3 Annex B ‐ Grants Forecast
PMP In
An
ndicato
nnex C:
or Track
ker – Yeear 2
Page 1
ANNEX C: PMP Indicator Tracker ‐ Year 2
progress monitoringPMP IR
#
PMP In
dicator #
Indicator Title
Unit of
Measure Data Source
Frequency
of
Collection Baseline
Associated
Deliverable Yr 2 Target
12/31/2011
3/31/2012
6/30/2012
9/30/2012
Yr 2 Actual as %
of Yr 2 Target
5 year Estim
ate
Component 1 Indicators
1.1.1Number of Associations accepting USG Technical
Assistance
Number of
Association[s]
Project
RecordsQuarterly 0 D111; D112 NA NA 1
1.1.2Bankers Association Financial and functional
Sustainability
Ratio/
Percentage
Association
membership
records
Quarterly 0 D111; D112 TBD 600% 600% 100%
1.1.3The number of Institutional Owners of the Federation of
Private Banks
Total # of
Members
Association
membership
records
Quarterly 0 D111; D112 4 0 0 25
1.1.4Overall Member Satisfaction of Bankers Association
effectiveness
# members
participating in
Meetings
Attendance
RecordsQuarterly 0 D111; D112 75% 77% 92% 75%
1.3 1.2.1
Number of policy research documents, public‐private
dialogue sessions, advocacy campaigns and public
education measures
Number of
documents,
events,
campaigns,
publications
Private
Financial
Sector
Association[s]
Quarterly 0D131; D132;
D133; D13412 1 3 104
1.2 1.3.1
Number of GoI/stakeholder communications and
exchanges, conferences, publications, research papers
and public education initiatives that result in
recommendations being implemented
Number of
events, papers,
publications
Stakeholder
Association(s)
plus CBI, CoR,
other GOI
entities
Quarterly 0D121; D122;
D123; D1243 1 0 15
1.4 1.4.1
Number of official linkages established between the Iraq
Banker's Association(s) and Regional and International
Bankers associations as a result of USG assistance.
Number of
official, written
linkages
Stakeholder
Association(s) Annual 0 D141; D142 2 2 0 12
1.5.0
Four to Five targeted policy, legal, regulatory or
administrative reforms are identified and reform efforts
initiated.
NumberProject
RecordsQuarterly 0 D151 5 0 0 4‐5
1.5.1Policy, Legal, Regulatory or Administrative Reform #1
Implementation Milestones
Milestones
(TBD)
Project
RecordsQuarterly 0 D151 TBD 0 0 100%
1.5.2Policy, Legal, Regulatory or Administrative Reform #2
Implementation Milestones
Milestones
(TBD)
Project
RecordsQuarterly 0 D151 TBD 0 0 100%
1.5.3Policy, Legal, Regulatory or Administrative Reform #3
Implementation Milestones
Milestones
(TBD)
Project
RecordsQuarterly 0 D151 TBD 0 0 100%
1.5.4Policy, Legal, Regulatory or Administrative Reform #4
Implementation Milestones
Milestones
(TBD)
Project
RecordsQuarterly 0 D151 TBD 0 0 100%
1.5.5Policy, Legal, Regulatory or Administrative Reform #5
Implementation Milestones
Milestones
(TBD)
Project
RecordsQuarterly 0 D151 TBD 0 0 100%
1.5
1.1
Page 2
ANNEX C: PMP Indicator Tracker ‐ Year 2
progress monitoringPMP IR
#
PMP In
dicator #
Indicator Title
Unit of
Measure Data Source
Frequency
of
Collection Baseline
Associated
Deliverable Yr 2 Target
12/31/2011
3/31/2012
6/30/2012
9/30/2012
Yr 2 Actual as %
of Yr 2 Target
5 year Estim
ate
Component 2 Indicators
2.1 2.1.2Milestones to putting the legal and regulatory framework
in place and making a credit bureau operational.
Milestones
(see PIRS)
Project and
Stakeholder
Documents
Quarterly 0
D211;D212;
D213; D214;
D215; D216;
D217; D218
4 & 5 0 0 8
2.1.3 Number of inquiries received by Credit Bureau Number of
Inquiries
Credit Bureau
RecordsQuarterly 0 D219 NA nd
2.1.4Number of banks/NBFIs and other subscribers to bureau
services
Number of
Subscribers
Credit Bureau
RecordsQuarterly 0 D219 NA nd
2.1.5 Number of data records held by Credit BureauNumber of Data
Records
Credit Bureau
RecordsQuarterly 0 D219 NA nd
2.2.1
Milestones to measure the steps necessary to establish The
Banker's Training Institute that is sustainable and an
effective industry training mechanism.
Milestones
(see PIRS)Project Records Quarterly 0
D221; D222;
D224; D2283 0 1 8
2.2.1a Bankers Training Institute Sustainability Ratio
Ratio (see
PIRS for
Definition)
BTI Financial
RecordsQuarterly 0 D228 5% 0 0
20‐
50%
2.2.24.3.2‐1: Number of Financial Sector Professionals trained
on international standards this year with USG assistance.
Total # of
Professionals
Training
RecordsAnnual 0
D223; D225;
D226; D227200 97 195 650
2.2.2a Number of Men # MenTraining
RecordsAnnual 0
D223; D225;
D226; D22780 36 68 nd
2.2.2b Number of Women #womenTraining
RecordsAnnual 0
D223; D225;
D226; D227120 61 127 nd
2.3.1
4.3.2‐2 Number of Material Improvements in the
Infrastructure institutions that reduce Market Risks made
this year with USG Assistance
Number of
Improvements
Implementing
Partners,
project records
Annual 0 D231; D232 0 1
2.3.1a Phase I CompletedMilestones
(see PIRS)Project Records Quarterly 0 D231 0 10
2.3.1b Phase II Completed Milestones
(see PIRS)Project Records Quarterly 0 D232 19 16 0 19
2.4 2.4.1CBI has a complete Request for Proposals for CORE system
that could issued for bid
Milestones
(see PIRS)Project Records Quarterly 0 none 7 5 1 7
2.2
2.3
Page 3
ANNEX C: PMP Indicator Tracker ‐ Year 2
progress monitoringPMP IR
#
PMP In
dicator #
Indicator Title
Unit of
Measure Data Source
Frequency
of
Collection Baseline
Associated
Deliverable Yr 2 Target
12/31/2011
3/31/2012
6/30/2012
9/30/2012
Yr 2 Actual as %
of Yr 2 Target
5 year Estim
ate
Component 3 Indicators
3.1.1
4.3.1‐6: Number of Financial Sector Training and/or
Certification Programs Established or supported that meet
International Standards
Number of
ProgramsProject Records Annual 0
D312; D313;
D314NA NA 2
3.1.24.3.2‐1: Number of Financial Sector Professionals trained
on international standards this year with USG assistance.# professionals
Project
Records/
University
Records
Annual 0 D312 30 0 112 79
3.1.2a Number of Men #MenUniversity
RecordsAnnual 0 D312 20 0 103 61
3.1.2b Number of Women #womenUniversity
RecordsAnnual 0 D312 10 0 9 18
3.1.3Number of senior faculty fom Partner Colleges trained in
curriculum by regional/international Partner universities
Number of
senior faculty
Implementing
Partners,
project records
Quarterly 0 D312 30 0 112 30
3.1.6Number of Iraqi Colleges of Economics and Administration
accepted for membership for accreditation in AACSB
Number of
CollegesProject Records Quarterly 0 D314 2 0 2 8
3.2.1.dOverall Member Satisfaction of Educators Association
effectivenessRating Survey Quarterly 0 D322 3 0 0 4
3.2.4
Number of partnership agreements between Iraqi Partner
Colleges and Regional/international educational
institutions
Number of LOC
Signatory
Universities
Implementing
Partners,
project records
Quarterly 0 D321 1 2 0 2
3.3.1
Sustainable Joint Council (Education/Private Banks)
established within the organizational structure of a private
bank industry association.
Milestones (see
PIRS)
Implementing
Partners,
training
records
Quarterly 0 D331; D332 4 0 4 4
3.3.1a
Number of internships and scholarships to students from
the Partner Colleges Co‐funded by the private sector
(disaggregated by type of sponsorship, gender)
Number of Co‐
Funded
Scholarships
/Internships
Implementing
Partners,
training
records
Quarterly 0 D331; D332 4 0 0 20
3.3.1b Number of Men #Men
Implementing
Partners,
training
records
Quarterly 0 D331; D332 3 0 0 14
3.3.1c Number of Women #Women
Implementing
Partners,
training
records
Quarterly 0 D331; D332 1 0 0 6
3.3.1dNumber of Career Development Centers established at
Partner Colleges
Number of
centers
Implementing
Partners,
training
records
Quarterly 0 D331; D332 2 0 0 4
3.2
3.3
3.1
FinancialDevelopment Project
Appendix D: Project Year 2 PMP
PERFORMANCE MONITORING PLAN
July 19th, 2010 – June 18th, 2015 (revised March 2011)
This publication was produced for review by the United States Agency for International Development. It was prepared by AECOM International Development under Contract # 267-C-00-10-00005-00
USAID IRAQ FINANCIAL DEVELOPMENT PROJECT
The Iraq Financial Development Project is made possible by the support of the American people through the United States Agency for International Development (USAID). The Iraq Financial Development Project is implemented by AECOM
DISCLAIMER The authors’ views expressed in this publication do not necessarily reflect the views of the United States Agency for International Development or the United States Government.
PERFORMANCE MONITORING PLAN July 2010 – July 2015 (revised March 2011)
Iraq Financial Development Project PMP USAID Contract # 267-C-00-10-00005-00
i
Contents List of Acronyms ii
Performance Management Plan Revision Statement iii
Project Results Framework 1
Deliverables Table 5
Long Term Objective and Program Indicators and PIRS 7
Component 1 Indicators and PIRS 18
Component 2 Indicators and PIRS 28
Component 3 Indicators and PIRS 43
Iraq Financial Development Project PMP USAID Contract # 267-C-00-10-00005-00
ii
List of Acronyms
ADS USAID Automated Directives System LTO Long Term Objectives per USAID Contract#267‐C‐00‐10‐00005‐00 CBI Central Bank of Iraq CIB Credit Information Bureau CoR Council of Representatives COTR USAID Contracting Officer’s Technical Representative DQA Data Quality Assessment FAF USAID/State Department’s Foreign Assistance Framework GDP Gross Domestic Product GoI Government of Iraq IPS Iraq Payment System/Retail Payment System IR Intermediate Result/Expected Result from Contract Scope of Work M&E Monitoring and Evaluation PMP Performance Management Plan PMU Project Management Unit USAID United States Agency for International Development
Iraq Financial Development Project PMP USAID Contract # 267-C-00-10-00005-00
iii
Performance Management Plan Revision
This document presents the changes to the project results framework, Performance Management Plan Indicators and all Performance Indicator Reference Sheets including baseline data and targets. This is the first revision of the Performance Management Plan (PMP) for the Iraq Financial Sector Development Project (USAID Contract No. 267‐C‐00‐10‐00005‐00) submitted on October 19, 2011. Future revisions will be made at a minimum annually, and/or as knowledge is gained throughout the life of the project. The M&E department of the Financial Development Project adheres to the mandatory and non‐mandatory requirements, guidance and instruction found in USAID ADS Chapter 203 “Assessing and Learning.” Using a range of pre‐selected indicators performance monitoring will continuously measure the progress toward achieving contractual intermediate results, at all levels, for all component/elements of the program. Objective Performance evaluations will be conducted on a periodic basis to “identify reasons for success or lack of it, to assess effects and impacts, or to indicate which, among a range of program or project/activity alternatives is the most efficient and effective”1 in a manner that will allow timely adjustments to be made when necessary based on lessons learned. More specifically, performance evaluations will focus on the following: 1) what is being or has been achieved (either at an intermediate point in execution or at the conclusion of an implementation period); 2) how it is being implemented; 3) how it is perceived and valued; 4) whether expected results are occurring; 5) any other questions that are pertinent to program design, management and operational decision making. Twice a month, Component leaders will meet with PMU/M&E staff to review progress towards meeting deliverables and achieving measurable PMP outputs. As measurable progress is achieved, component staff will provide evidential documentation which will be stored in program‐wide data monitoring files and/or OneSource. Hard copies of all deliverables will also be cataloged and stored in locked file cabinets in the M&E office. All Data will be reviewed on a quarterly basis to ensure that all project and staff reports and spreadsheets are 100% accurate. Sector indicators will be reviewed by Senior Management quarterly or as macro economic data become available.
1 ADS 203.3.2
USAID Iraq Financial Development ProjectResults Framework
Long Term Objective(s):
LTO 1: Create jobs by strengthening the private financial sector’s ability to provide increased financial intermediation services.
LTO 2: Improve the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform.
IR 3(Component 3)
A modern business and finance curricula, faculty, and degree program(s) is established
at select business schools /universities to provide a supply of qualified Iraqis to
fill the gap in finance and business skills needed for private financial sector and
enterprise development.
IR 2(Component 2)
Targeted reforms have been implemented that put in place financial sector
infrastructure and capacity for expansion of bank and nonbank financial institutions and
services
IR 1(Component 1)
A private industry association(s) serves its members through
advocacy and training is strengthened and serves as a key interlocutor with the GoI on policy,
legal and regulatory reform and capacity development
IR 1.1Effective & Sustainable Industry
Association
IR 1.54-5 Reforms identified &
implementation package prepared for Bankers Federation
IR 3.3Sustainable mechanism in place for university collaboration with private
business and financial
IR 1.3Process of Iraqi-Led Public-Private
Dialogue in Place
IR 3.2Sustainable mechanism in place for continuing professional development
IR 2.1A Credit Bureau is Operational
IR 1.4Regional and International Linkages
Established
IR 2.2Sustainable Organization est. to provide training / professional
development
IR 2.3IPS is Operational and National
Switch model Proposed
IR 2.4CBI has RFP for CORE system
IR 2.5CBI staff Trained on new reporting
requirements
IR 3.1Two or more business
schools/universities offering business and finance degrees
IR 1.2Stakeholder Organization Capacity Development to achieve reforms
Program Area:4 Economic Growth
Program Element:4.3 Financial Sector
Program Sub-Elements:4.3.1 Financial Sector Enabling Environment
and4.3.2 Financial Services
Critical Assumption:Project design assumes project investments
will result in increased private sector financial intermediation —transformation of deposits into investment resources—that will in turn
lead to an increase in lending and investment in the private sector that will contribute to job creation and diversification of the economic
base
Project Objective: Strengthen the private financial sector’s ability to provide financial
intermediation to fuel private sector-led job creation.
Indicator: P1) Private Bank Loans to the Private Sector as a percent of private sector Deposits
Private Banking Sector Indicators:LT1) Increased credit to the private sector as a percent of GDPLT2) Private Bank Loans as a % of All loans made by Commerical Banks to the private sectorLT3) Interest Rate Spread (%)LT4) Distribution/Concentration of Credit by sector as a % of total credit to the private sector
USAID Iraq Financial Sector Development ProjectComponent 1
Results Framework
IR 1(Component 1)
A private industry association(s) to serve its members through advocacy and training is strengthened and will serve as a key interlocutor with the GoI on policy,
legal and regulatory reform and capacity development.
IR 1.1One or more industry
association(s) that represents effectively
the interests of the private financial sector and is self-sustainable,
as measured by financial and functional
sustainability and member involvement
and satisfaction
PMP Indicator:1.1.1; 1.1.21.1.3; 1.1.4
Deliverables:D1.1.1; D1.1.2
IR 1.5Four to five targeted
policy, legal, or regulatory reforms with all the administrative changes needed for
successful implementation to
expand financial sector intermediation, that the
private banking industry, or private
banking sector representative body (if applicable), agree will
be supportive to development in the
sector
PMP Indicator:1.5.0-1.5.5
Deliverables:D1.5.1
IR 1.2Stakeholder
organization’s capacity is developed to conduct policy research, public
private dialogue, advocacy and public education efforts to
achieve targeted priority reforms.
PMP Indicator:1.2.1
Deliverables:D1.2.1R; D1.2.2RD1.2.3R; D1.2.4R
IR 1.4Regional and
international linkages with other such
associations established
PMP Indicator:1.4.1
Deliverables:D1.4.1; D1.4.2
IR 1.3A process of Iraqi-led,
results-oriented, private-public dialogue
among the industryassociation(s), the
CBI, CoR and other GoI entities is in place
and sustained, as indicated by
the number of GoI/stakeholder
communications and exchanges,
conferences, publications,
research papers and public education
initiatives that result in recommendations
beingimplemented
PMP Indicator:1.3.1
Deliverables:D1.3.1R;D1.3.2RD1.3.3R;D1.3.4R
Program Area:4 Econ Growth
Program Element:4.3 Financial Sector
Program Sub-Elements:
4.3.1 and 4.3.2LTO: 1 & 2
Critical Assumptions:1. An Active and Informed Iraqi private sector will push for meaningful reforms from
the bottom up2. GoI willing to support Private Sector Reforms
USAID Iraq Financial Sector Development ProjectComponent 2
Results Framework
IR 2(Component 2)
Targeted reforms are implemented thatput in place financial sector infrastructure and capacity for expansion of bank and
nonbank financial institutions and services
IR 2.1A legal and regulatory
framework for establishing a credit
bureau is in place and a credit bureau is
operational
PMP Indicator:2.1.1 (F4.3.2-2);
2.1.2; 2.1.3; 2.1.4;2.1.5
Deliverables:D2.1.1; D2.1.2D2.1.3; D2.1.4;D2.1.5; D2.1.6D2.1.7; D2.1.8
D2.1.9
IR 2.2A sustainable
organization/partnership for providing financial sector
training and professional
development is established and able
to deliver courses based on international
standards and in response to financial sector requirements
PMP Indicator:2.2.1; 2.2.1a;
2.2.2a&b (F4.3.2-1)
Deliverables:D2.2.1; D2.2.2D2.2.3; D2.2.4D2.2.5; D2.2.6D2.2.7; D2.2.8
IR 2.3A comprehensive retail payments
system is operational and a solution for a
National Switchmodel is proposed
PMP Indicator:2.3.1 (F4.3.2-2);2.3.1a; 2.3.1b
Deliverables:D2.3.1; D2.3.2
IR 2.4CBI has a complete
Request for Proposals for CORE
system that could be issued for bid
PMP Indicator:2.4.1
Deliverables:none
IR 2.5CBI staff is trained
on the new Centralized Data
Repository reporting requirements and can manage the
system
PMP Indicator:2.5.1; 2.5.2
Deliverables:D2.5.3 D2.5.4
Program Area:4 Econ Growth
Program Element:4.3 Financial Sector
Program Sub-Elements:4.3.2
LTO: 1 & 2
Critical Assumptions:1. MOF continues to support
CIB formation;2. CBI continues to embrace
TA to establish IPS, Data Repository and Bankers'
Training Institute
IR 2.6 - PENDING FURTHER REVIEW OF MODIFICATION LANGUAGE: Following the establishment by the CBI of the new Centralized Data Repository interface in all reporting entities, the staff from these entities is trained in the use and management of the interface
USAID Iraq Financial Sector Development ProjectComponent 3
Results Framework
IR 3(Component 3)
A modern business and finance curricula, faculty, and degree programs are established at select business schools and/or
universities to provide a supply of qualified Iraqis to fill the gap in finance and business skills needed for private financial sector and
enterprise development.
IR 3.3Sustainable
mechanism in place for university collaboration with private business
and financialorganizations
PMP Indicator:3.3.1; 3.3.2a&b;
3.3.3
Deliverables:D3.3.1; D3.3.2;
D3.3.3
IR 3.2Sustainable
mechanism in place for continuing professional development
PMP Indicator:3.2.1; 3.2.2a&b;
3.2.3; 3.2.4
Deliverables:D3.2.1; D3.2.2
IR 3.1Two or more
business schools/universities offering business
and finance degrees
PMP Indicator:3.1.1 (F4.3.1-6);
3.1.2 a&b (F4.3.2-1)3.1.3; 3.1.4a&b
3.1.5; 3.1.6
Deliverables:D3.1.1; D3.1.2D3.1.3; D3.1.4
Program Area:4 Econ Growth
Program Element:4.3 Financial Sector
Program Sub-Elements:
4.3.1 and 4.3.2LTO: 2
Critical Assumptions:1. MOHE and Iraqi
Universities Continue to Support program efforts
2. International Partners will fulfill their obligations as
mentors to Iraqi Partners
USAID Iraq Financial Development ProjectDeliverables Matrix ‐ YEAR 2 Revised
year D# Component 1 D# Component 2 D# Component 3
D111
Strategic plan targeting institutional
development and sustainability of one or
more industry association(s).
D211
Public‐private steering committee for
design of bank training institute and credit
bureau established.
D311
Gap analysis of at least two existing
business and finance University or College
programs conducted.
D131R
A prioritized reform agenda for financial
sector reforms developed by
association(s).
D212GoI commitment confirmed in writing in a
manner acceptable to both CBI and USAIDD331
Mechanisms for cooperation between the
private sector and at least two existing
business and finance University or Colleges
in place.
D121R
Training plan targeted to building the
advocacy capacity of the institute
developed.
D213Iraqi driven credit bureau business plan and
model developed.
D122RCommunications strategy for
association(s) developed.D221
Business plan and model for bank training
institute.
D132RGoI champions for association reform
agenda identified and engaged.D231
Achievment of phase 1 of the retail
payments system.
D141
Regional and international linkages
established with other Associations and
industry groups.
D214
Legal and regulatory requirements for
credit bureau identified and
recommendations for needed changes
drafted.
D312
Upgrade existing finance and business
programs and introducing new programs.
Conducting faculty training, upgrading
course materials, introducing international
standards for program administration and
accrediation, facilitating partnerships with
regional and US universities.
D123R Advocacy training plans implemented. D215
Public education campaign(s) launched to
inform public about the role of a credit
bureau in the financial sector.
D332
Initiatives and pilots that support student
opportunity, such as scholarship and
internship programs, career development
centers, and entrepreneurship centers.
D133R
Communications plan
implemented including the
launch of a public education
campaign to inform public
about the role of banks in the
economy
D222 Bank training institute established.
D142Linkages to University programs
established.D223
Training of trainers and curriculum
development underway.
D224Regional linkages to other bank training
institutes established.
D232Achievement of phase 2 tasks for the retail
payments system.
D112
One or more industry associations
represent effectively the interests of the
private financial sector and are self‐
sustainable, as measured by financial
sustainability and member involvement
and satisfaction.
D216Sources of data and data requirements for
launch of credit bureau resolved.D321
Regional and international linkages
established.
D217Legal and regulatory requirements for
credit bureau are in place.D313
At least two additional universities or
colleges added as counterparts.
D225Bank training institute expands number of
courses offered.
D226Bank institute starts offering certificate
programs.
D253Achievment of phase 1 for data repository
system.
D124R
Association(s) capacity is developed to
conduct policy research, public private
dialogue, advocacy and public education
efforts to achieve targeted priority
reforms.
D218 Credit bureau operations initiated. D322
Sustainable mechanism in place for
continuing professional development,
networking and advocacy for business and
finance education.
Year 1
Year 3
Year 2
USAID Iraq Financial Development ProjectDeliverables Matrix ‐ YEAR 2 Revised
year D# Component 1 D# Component 2 D# Component 3
D134R
A process of Iraqi‐led, results‐oriented,
private‐public dialogue among the
industry association(s), the CBI, CoR and
other GoI entities is in place and
sustained, as indicated by the number of
GoI/stakeholder communications and
exchanges, conferences, publications,
research papers and public education
initiatives that result in recommendations
being implemented.
D227Bank training institute continues to expand
its number of courses offered.D333
Sustainable mechanism in place for
university collaboration with private
business and financial organizations.
D254Achievement of phase 2 tasks for the data
repository system.
D151
Four to five targeted policy, legal,
regulatory and administrative reforms that
quantitatively and quantitatively expand
financial sector intermediation, as
measured by the increase in credit to the
private sector and the increase in the
number of financial instruments available
in the market.
D219
A legal and regulatory framework for
establishing a credit bureau is in place and a
credit bureau is operational.
D314
Two or more business schools/universities
offering business and finance degrees
based on international standards.
D228
Bank training institute established and
sustainable with program courses and
materials, training of trainers, etc.
Year 4
Year 5
Performance Management Plan (PMP) List of Indicators: Private Banking Sector and Project Objective Indicatrors
PMP In
dicator
#
Private Banking Sector Indicator Title
Unit of
Measure Data Source
Frequency
of
Collection Baseline
Associated
Deliverable Yr 1 Yr 2 Yr 3 Yr 4 Yr 5
5 Year
Total Cogn
izant
Project
Componen
t
LT1 Increased Loans to the private Sector as a % of GDP Percent CBI and WB Annual 8.9% N/A 14% 19% 24% 24% 34% 34% PMU
LT2
Loans from Private Banks to the Private Sector as a %
of all loans to the private sector by the commercial
banking sector
Percent CBI and WB Annual 33.8% N/A 39% 44% 49% 54% 59% 59% PMU
LT3 Interest Rate Spread (%) PercentCBI Annual
ReportAnnual 7.6% N/A 7% 6% 49% 4% 3% 3% PMU
LT4Credit extended by the Private Banks by sector as a %
of total credit provided by the private banks
Standard
Deviation (%)
CBI Annual
ReportAnnual 17.0% N/A 14% 11% 9% 7% 7% 7% PMU
Program
Objective
Program
Area
Program
Elem
ent
Long Term
Objective
PMP IR #
Intermediate Result (from contract)
PMP
Indicator #
PMP Indicator TitleUnit of
Measure Data Source
Frequency
of
Collection Baseline
Associated
Deliverable Yr 1 Yr 2 Yr 3 Yr 4 Yr 5
5 Year
Total Cogn
izant
Project
Componen
t
4 4.3LTO1
LTO2P1
Strengthen the private financial sector’s
ability to provide financial intermediation to
fuel private sector‐led job creation.
P1
Loans by Private Banks to the private sector as a
percent of total private sector deposits held by the
Commercial Banking sector
(Loan to Deposit Ratio)
Percent CBI Annual 21% N/A 21% 27% 33% 39% 45% 45% PMU
Targets
TargetsLong Term Objectives
LTO 1: Create Jobs by Strengthening the private financial sector's ability to provide increased financial intermediation services.
LTO 2: Improve the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform.
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # LT1
NO
YES
N/A
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)TBD
GDP in Iraq is heavily influenced by the oil sector. Fluctuations in the production and price of oil may have significant positive or negative affects on this indicator.Review Annually to adjust for oil influence on GDP. Reliable Data for non-oil GDP is currently unavailable. However, if/when non-oil data becomes available, non-oil GDP will be used as the denominator in this indicator.
TBD
TBD
OTHER NOTES:
Year Target Actual Notes
2010 8.9%
See attached Loans to GDP worksheet that has been updated with Dec 31, 2010 data from WB and CBI. The actual figure represented here is the estimated baseline for the project.
2011 14%
2012 19%
2013 24%
2014 29%
2015 34%
"F" indicator
sector indicator for management to use to monitor overall program impact in a larger context, not directly attributable for any contractual objective
Program Objective 4 Economic Growth
Program Area 4.3 Financial Sector
Is this a Custom or "Project Specific" Indicator?
Expected Result #
Expected Result Per Contract N/A
Indicator Title: Increased Loans to the private Sector as a % of GDP
Precise Definition(s):Total Private Sector Loans as reported by the Central bank of Iraq / Annual GDP as reported by the World Bank (GDP reported by the Central Bank of Iraq will be used for internal monitoring)
Unit of Measure: Percent
Disaggregated by: World Bank and Central Bank GDP
type: ouput/outcome Outcome
Direction of Change: Higher = Better
Rationale:The ratio of private sector bank credit to GDP is a common measure of the provisionof credit to the economy, as well as of banking depth.
Data Source: Central Bank of Iraq and World Bank Database
Method of data acquisition: Data will be collected from the World Bank WorldData Database and the Annual Reports from the Central Bank of Iraq
Data Acquisition Freq & Reporting: Annual Acquistion as reports are available; CBI data will be collected quarterly, if available.
Procedures for Future Data Quality Assessments:
Notes on baselines/Targets:Initial Baseline data is calculated using the 2009 WB GDP and CBI Loan Data. Baseline data and targets for yr 1-5 will be updated when 2010 data is available. Initial Targets estimated at 5% increase per year
Long Term Objective
Date of Initial Data Quality Assessment:
Known Data Limitations and Significance (if any):
Actions Taken or Planned to address Data Limitations:
Date of Future Data Quality Assessments:
Individual responsible for project reporting data: William R. Schultz
Location of Data Storage: Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
Estimated Cost of Data Acquisition: N/A
Individual responsible for data collection: William R. Schultz
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # LT2
NO
YES
N/A
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)TBD
None Known at this time
TBD
TBD
TBD
OTHER NOTES:
Year Target Actual Notes
201033.8%
See attached Loans to GDP worksheet that has been updated withDec 31, 2010 data from WB and CBI. The actual figure representedhere is the estimated baseline for the project.
2011 39%
2012 44%
2013 49%
2014 54%
2015 59%
Long Term Objectivesector indicator for management to use to monitor overall program impact in a larger context, not directly attributable for any contractual objective
"F" indicator
Program Objective 4 Economic Growth
Program Area 4.3 Financial Sector
Is this a Custom or "Project Specific" Indicator?
Expected Result #Expected Result Per Contract N/A
Indicator Title:Loans from Private Banks to the Private Sector as a % of all loans to the private sector by thecommercial banking sector
Precise Definition(s):
Loans from Private Banks to the Private Sector as a % of all loans to the private sector by the commercial banking sector is calculated using the formula: Total Credit Extended by Private Banks to the Private Sector / Total Credit Extended by all Commercial Banks to the Private Sector.
Unit of Measure: Percent
Disaggregated by: none
type: ouput/outcome Outcome
Direction of Change: Higher = Better
Rationale:
This is a disaggregated indicator that shows the contribution that the private banking sector makes to the primary indicator by excluding the state owned banks. I low value signifies that private banks are not lending; have little influence in the credit markets due to size; or, both. Values above 50% is a sign that private banks are lending more than state banks and play a larger role in providing credit to the private sector. This disaggregated Indicator also provides a secondary reference to the contribution the private banks make to other credit indicators.
Data Source: Central Bank of Iraq and World BankMethod of data acquisition:
pthe Central Bank of Iraq
Data Acquisition Freq & Reporting: Annual Acquistion as reports are available; CBI data will be collected quarterly, if available.Estimated Cost of Data Acquisition: N/A
Individual responsible for data collection: William R. SchultzIndividual responsible for project reporting data: William R. Schultz
Location of Data Storage: Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
Procedures for Future Data Quality Assessments:
Notes on baselines/Targets:
Initial Baseline data is calculated using data from the 2009 CBI Annual Report. Baseline data and targets for yr 1-5 will be updated when 2010 data is available. Initial data has been updated with 2010 data. While the increase in loans from the private banks to the private sector has increased, the GDP data has increased at a higher rate causing this indicator to decline from 2009 to 2010, 41.5% down to 33.8%. This represents a direct change of -7.7% or a rate of change of -26.5% from 2009.
Date of Initial Data Quality Assessment:Known Data Limitations and Significance (if any):
Actions Taken or Planned to address Data Limitations:
Date of Future Data Quality Assessments:
Loans as a % of GDP (World Bank and CBI Data)all figures have been converted from IQD to USD (000) at the rate of 1170 IQD = $1 USD
LT1 LT2
Year
Total credit extended to the Private
Sector
total Credit to the private sector by
Private Banks CBI GDP World Bank
GDP
Private Sector Loans as % of
WB GDP
Private Sector Loans as % of
CBI GDP
Private Bank Loans as a
% of All Loans
2008 $3,334,703 $965,049 $130,747,695 $86,530,784 3.9% 2.6% 28.9%2009 $3,971,083 $1,647,689 $119,085,470 $65,837,435 6.0% 3.3% 41.5%
010 baselin $7,288,146 $2,465,239 $146,971,774 $82,150,313 8.9% 5.0% 33.8%
$817,550 Change in % 2.8% 1.6% -7.7%0.496180094 Percent Increase 73.7% 63.7% -26.5%
Baseline and Target Chart
2008 $3,334,703 $965,049 $130,747,695 $86,530,784 3.9% 28.9%2009 $3,971,083 $1,647,689 $119,085,470 $65,837,435 6.0% 41.5%2010
baseline $7,288,146 $2,465,239 $146,971,774 $82,150,313 8.9% 33.8%Yr 1 Target 14% 39%Yr 2 Target 19% 44%Yr 3 Target 24% 49%Yr 4 Target 29% 54%Yr 5 Target 34% 59%
3.9%
6.0%
8.9%
2.6%3.3%
5.0%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
2008 2009 2010 baseline
LT1 Indicator: Increased Loans to the private Sector as a % of GDP
Private Sector Loans as % of WB GDP Private Sector Loans as % of CBI GDP
28.9%
41.5%
33.8%
0.0%5.0%
10.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%
2008 2009 2010 baseline
LT2 Indicator: Loans from Private Banks to the Private Sector as a % of all loans to the private sector by the commercial banking
sector
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
2008 2009 2010baseline
Yr 1 Yr 2 Yr 3 Yr 4 Yr 5
LT1 and LT2 Basline, Targets and Linear Trend
LT1: Baseline and Targets LT2: Baseline and Targets
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # LT3
NO
YES
N/A
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)TBD
None known at this time
TBD
TBD
TBD
OTHER NOTES:
Year Target Actual Notes
2010 7.65% 2010 = Baseline (see attched worksheet)
2011 7%
2012 6%
2013 5%
2014 4%
2015 3%
Long Term Objectivesector indicator for management to use to monitor overall program impact in a larger context, not directly attributable for any contractual objective
"F" indicator
Program Objective 4 Economic Growth
Program Area 4.3 Financial Sector
Is this a Custom or "Project Specific" Indicator?
Expected Result #
Expected Result Per Contract N/A
Indicator Title: Interest Rate Spread (%)
Precise Definition(s):Interest Rate Spread = Average Loan Interest Charged to best customers by commerical banks - Average Interest Rate Paid on Deposits by Commerical Banks
Unit of Measure: Percent
Disaggregated by: none
type: ouput/outcome Outcome
Direction of Change: Lower = Better
Rationale:
The interest rate spread is the difference between the average interest rate on loans to prime customers and the average interest rate on deposits in the banking system. This indicator reflects the combined effects of five factors: innate lending risks due to structural characteristics of the economy; the cost of bad debts due to poor lending decisions, perhaps resulting from political pressures or corruption; uncertainty due to weak credit information systems or collateral mechanisms; market power in the banking system, reflecting a lack of effective competition in the financial markets; and, high operating costs in intermediating deposits into loans. Relatively high values are a sign of inefficiency in the banking system or poor institutional foundations for the development of the financial markets.
Data Source: CBI Aggregated Data
Method of data acquisition: Data will be acquired from CBI Annual Reports; Quarterly data will be acquired if available
Data Acquisition Freq & Reporting: Annual, Quarterly if available
Estimated Cost of Data Acquisition: N/A
Individual responsible for data collection: William R. Schultz
Individual responsible for project reporting data: William R. Schultz
Location of Data Storage: Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
Procedures for Future Data Quality Assessments:
Notes on baselines/Targets:
Initial Baseline data will be calculated using the 2009 CBI Annual report. Baseline data and targets for yr 1-5 will be updated when 2010 data is available. Targets are based on the assumption that efficiency will improve each year to lower the spread by 1% per year, which will lower the interest rate spread to a level that is comparable to regional neighboring countries. 2010 Baseline data has been received and is now shown as the updated baseline for the project.
Date of Initial Data Quality Assessment:
Known Data Limitations and Significance (if any):
Actions Taken or Planned to address Data Limitations:
Date of Future Data Quality Assessments:
Central Bank of Iraq Interest Rate Data: a-Interest Paid 2006 2007 2008 2009 2010 baseline Savings Deposits 5.66% 9.18% 9.47% 6.84% 5.52% Time Deposits for 6 months 6.62% 10.43% 10.54% 7.82% 6.06% Time Deposits for 1 year 7.27% 11.30% 11.88% 8.83% 7.17% Time Deposits for 2 years 8.08% 12.56% 13.11% 10.12% 8.18%Average 6.91% 10.87% 11.25% 8.40% 6.73%
b- Interest Charge Current Account ( overdraft ) 14.77% 19.09% 19.65% 16.76% 15.13% Discounted Bills 14.50% 18.44% 19.72% 16.34% 14.76% Short Term Loans 14.38% 18.78% 19.22% 16.16% 14.35% Medium Term Loans 14.48% 19.47% 19.50% 15.63% 13.32% Long Term Loans 15.13% 19.53% 19.57% 16.47% 14.35%Average 14.65% 19.06% 19.53% 16.27% 14.38%
BASELINEInterest Rate Spread - all rates 7.74% 8.19% 8.28% 7.87% 7.65%
Selected Comparative Regional Countries (World Bank Data)2006 2007 2008 2009 2010
Lebanon 2.30% 2.30% 2.30% 2.30%Israel 3.10% 2.80% 2.80% 2.60%Jordan 3.60% 3.20% 3.60% 4.30%Kuwait 3.70% 3.10% 2.80% 3.30%Qatar 2.90% 3.00% 3.90% 2.80%Regional Average 3.12% 2.88% 3.08% 3.06%USA (Federal Reserve Data) 2.93% 2.78% 2.20% 2.97%Iraq 7.74% 8.19% 8.28% 7.87% 7.65%
7.74%
8.19%8.28%
7.87%
7.65%
7.30%7.40%7.50%7.60%7.70%7.80%7.90%8.00%8.10%8.20%8.30%8.40%
2006 2007 2008 2009 2010 baseline
Iraq Interest Rate Spread2006 - 2009
2.3
0%
3.1
0%
3.6
0%
3.7
0%
2.9
0%
3.1
2%
2.9
3%
7.7
4%
2.3
0%
2.8
0%
3.2
0%
3.1
0%
3.0
0%
2.8
8%
2.7
8%
8.1
9%
2.3
0%
2.8
0%
3.6
0%
2.8
0%
3.9
0%
3.0
8%
2.2
0%
8.2
8%
2.3
0%
2.6
0% 4.3
0%
3.3
0%
2.8
0%
3.0
6%
2.9
7%
7.8
7%
0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%9.00%
Lebanon Israel Jordan Kuwait Qatar RegionalAverage
USA(FederalReserve
Data)
Iraq
Interest Rate Spread for Selected Mid East Countries2006-2009 (World Bank Data)
2006
2007
2008
2009
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # LT4
NO
YES
N/A
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)
TBD
None known at this time
TBD
TBD
TBD
OTHER NOTES:
Year Target Actual Notes
2010 17%Baseline = Excel Stdevpa function for 2010 % Dist. (See attached worksheet)
2011 14%
2012 11%
2013 9%
2014 7%
2015 7%
Location of Data Storage: Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
Procedures for Future Data Quality Assessments:
Notes on baselines/Targets:
Initial Baseline data will be calculated using the 2009 CBI Annual report. Baseline data and targets for yr 1-5 will be updated when 2010 data is available. Using economic expertise, Targets are based on reasonably gradual shifts of areas of high concentration of credit to eonomically productive, though low areas of concentration of credit. (see attached worksheet). Iraq is not expected to reach the level of low-risk diversification in more developed countries such as Jordan or the USA within the five years of the project; however, a reasonable, gradual shift from areas of high concentration to areas less served should be observed. 2010 baseline data has been incorporated to update the baseline for the project
Known Data Limitations and Significance (if any):
Date of Future Data Quality Assessments:
Date of Initial Data Quality Assessment:
Actions Taken or Planned to address Data Limitations:
Indicator Title:Credit extended by the Private Banks by Sector as a % of total credit provided by the private banks
sector indicator for management to use to monitor overall program impact in a larger context, not directly attributable for any contractual objective
Long Term Objective
Program Objective 4 Economic Growth
Program Area 4.3 Financial Sector
"F" indicator
Is this a Custom or "Project Specific" Indicator?
Expected Result #
N/AExpected Result Per Contract
Precise Definition(s):
The Central Bank of Iraq reports credit from the commercial banks (State and Private) seggreated by 10 economic sectors: Agriculture; Building/Construction; Electricity; External Credit; Finance/Ins/RE/Business Services; Manufacturing, Mining/Quarries; Social Services; Transportation/communication/storage; and, Wholesale/retail/trade/hotels. This indicator is the standard diviation of % of total credit distibuted to each of these sectors. (See attached baseline and target estimate worksheets.)
Unit of Measure: Standard Deviation (expressed as a %)
Disaggregated by: none
type: ouput/outcome output
Direction of Change: lower = better
Rationale:
In a more robust and diversified banking sector such as Jordan or in the USA, concentration of credit is a more evenly divided. Therefore, This indicator reveals the existance of any concentration of credit in Iraq. High concentrations of credit in a particular sector subject the Private Baking sub-sector to the risks associated to the particular sector where the credit is concentrated. (i.e. high concentrations of credit in the agriculture sector subject lenders to the same risks such as crop loss from weather, disease and insects and market price risks). A High standard deviation signals the existance of a concentration of credit, high risk. A low standard deviation indicates less concentration, lower risk. Through training and education and improvement in collections/risk management as well as external improvements like electricity, security and infrastructure this distribution should level out and become less concentrated.
Data Source: Central Bank of Iraq
Method of data acquisition: Data acquired from CBI Annual Report
Individual responsible for project reporting data: William R. Schultz
Data Acquisition Freq & Reporting: Annually; quarterly data will be collected if available
Estimated Cost of Data Acquisition: N/A
Individual responsible for data collection: William R. Schultz
Targets
2009
2010
(baseline) Yr 1 Yr 2 Yr 3 Yr 4 Yr 5
Mining
Electricity 0.28% 0.63% 0.63% 0.63% 0.63% 0.63% 0.63%
Agriculture, 1.01% 1.35% 3.35% 5.35% 7.35% 9.35% 11.35%
External Credit 1.21% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
Transportation, Communications & Storage 2.57% 2.14% 3.14% 4.14% 5.14% 6.14% 7.14%
Finance, Insurance, Real Estate & Business Services 5.15% 7.11% 9.11% 11.11% 13.11% 15.11% 17.11%
Manufacturing 5.30% 4.54% 6.54% 8.54% 10.54% 12.54% 14.54%
Social Services 5.84% 16.68% 16.68% 16.68% 16.68% 16.68% 16.68%
Building & Construction 11.16% 10.54% 12.54% 14.54% 16.54% 18.54% 20.54%
Wholesale, Retail, Trade & Hotels 67.47% 56.96% 47.96% 38.96% 29.96% 20.96% 11.96%
100% 100% 100.00% 100% 100% 100% 100%
Average Distribution 11.11% 11.11% 11.11% 11.11% 11.11% 11.11% 11.11%
Standard Deviation: (baseline and targets) 20% 17% 14% 11% 9% 7% 7%
Year to Year Change ‐3.18% ‐2.97% ‐2.78% ‐2.42% ‐1.67% ‐0.36%
Analysis: Private Bank Cash Credit Distribution by sector as % of Total Cash Credit to the Private Sector
0% 20% 40% 60% 80%
Electricity
Agriculture,
External Credit
Transportation, Communications & Storage
Finance, Insurance, Real Estate & Business…
Manufacturing
Social Services
Building & Construction
Wholesale, Retail, Trade & Hotels
Baseline & Target Credit DistributionBy Sector
Yr 5
Yr 4
Yr 3
Yr 2
Yr 1
Baseline
20%
17%
14%
11%9%
7% 7%
0%
5%
10%
15%
20%
25%
2009 2010 (baseline) Yr 1 Yr 2 Yr 3 Yr 4 Yr 5
Cash Credit Standard Diviation Indicator 2009, 2010 Baseline and Targets
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # P1
NO
YES
Project Objective
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)TBD
Banks will always make operations and lending policy decisions on what their individual governance systems percieve as their own best interest. The interventions of the program are external to those loan decision making processes of individual banks, which gives the program limited influence on this indicator. Putting in place a Credit Bureau and improving data communications should have a profound affect on how individual banks make future lendingand operational decisions but there is no guarantee this will, in fact, happen. Annual fluctuations in the increases in both deposits and loans will have positive and negative effects year on year but the long term trend should remain positive.
Management will monitor both the numerator and denominator separately as well as the ratio. This indicator is not 100% directly attributable to the project's contractual objective. However, This indicator does provide proof of development hypothosis and must be monitored for the project's interventions should positively affect both the numerator and the denominator.
TBD
TBD
OTHER NOTES:
Year Target Actual Notes
2010 20.86% Baseline = $1.65 billion / $10.8 Billion (see attached worksheet)
2011 21%
2012 27%
2013 33%
2014 39%
2015 45%
Method of data acquisition: Data Collected from the CBI annual report and quarterly information if available.
Individual responsible for project reporting data: William R. Schultz
Data Acquisition Freq & Reporting: Data Acquisition as available from data sources/ Annual Reporting
Estimated Cost of Data Acquisition: N/A
Individual responsible for data collection: William R. Schultz
Rationale:
Loans to the private sector as a percent of private sector deposits of the Commercial Banking sector (Loan to Deposit Ratio) is a very strong indicator that reflects the actual financial intermediation (converting deposits to loans) that is taking place in the Commercial Banking sector. In western, developed countries a loan to deposit ratio of 65-70% is considered an acceptable level. A low loan to deposit ratio relative to regional or international benchmarks directly correlates to ineffective financial intermediation.
Data Source: CBI Aggregated Data contained in the CBI Annual Report
type: ouput/outcome Outcome
Direction of Change: Higher = Better
LTO1 and LTO2
Unit of Measure: Percentage
Disaggregated by: none
Indicator Title: Loans by Private Banks to the private sector as a percent of private sector deposits held by the Commercial Banking sector (Loan to Deposit Ratio)
Precise Definition(s):The formula for calculating the Loan to deposit ratio is: Loans from the Private Banks to the Private Sector / Total Private Sector Deposits.
Date of Initial Data Quality Assessment:
Actions Taken or Planned to address Data Limitations:
Program Objective 4 Economic Growth
Program Area 4.3 Financial Sector
Location of Data Storage: Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
"F" indicator
Is this a Custom or "Project Specific" Indicator?
Expected Result #
Strengthen the private financial sector’s ability to provide financial intermediation to fuel private sector-led job creation.
Expected Result Per Contract
Program Element
Long Term Objective
Procedures for Future Data Quality Assessments:
Notes on baselines/Targets:
Initial Baseline data will be calculated using the 2009 CBI Annual report. Baseline data and targets for yr 1-5 will be updated when 2010 data is available. Targets in Yr 1-5 assume that interventions will increase at a natural progression (5.28% from 2008-2009, 5.66% 2009-2010) of 6% per year. NOTE: the baseline for this indicator has changed to reflect the incorporated updated 2010 data. Also, it should be noted that as of 2010, CBI data now disaggregates deposit information by State and Private banks, making it possible to modify this indicator to show ONLY the Loan to Deposit ratio using ONLY Private Bank Deposits in the Denominator. Modifying this indicator would show a significant (and more accurate assessement) change in this inidcator. The L/D ratio for the Private Banking Sector for 2010 is 53.7%, rather than 20.86% using ONLY private sector loans at private banks divided by private sector deposits with Private Banks.
Known Data Limitations and Significance (if any):
Date of Future Data Quality Assessments:
Source: CBI 2008, 2009 & 2010 Annual Report (data converted to USD at 1170 IQD/$1 x 1000)
2008 2009 2010 Baseline Yr 1 Yr 2 Yr 3 Yr 4 Yr 5Private Bank Credit A $965,049 $1,647,689 $2,465,239
Private Sec Deposits B $9,736,522 $10,842,921 $11,817,844
Loan to Deposit Ratio A/B 9.91% 15.20% 20.86% 27% 33% 39% 45% 51%
State Owned Bank L/D ratio compared to Private Banks: 2010
(in 000)
Total all depositsTotal Cash Loans to
all sectors* 2010 Basline
Yr 1 Yr 2 Yr 3 Yr 4 Yr 5$36,291,573 $7,553,167 21%
$4,688,968 $2,465,239 53% 56% 59% 62% 65% 68%
$40,980,540 $10,018,406 24%
* Private banks make loans ONLY to the private sector whereas state owned banks make
loans to the private sector, SOE's and the central Government.
Total
USD
Loans to the private sector as a percent of private sector deposits of the Commercial Banking sector (Loan to Deposit Ratio)
Targets:
State Owned Banks
Private Banks
Targets:
9.91%
15.20%
20.86%
27%
33%
39%
45%
51%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
2008 2009 2010Baseline
Yr 1 Yr 2 Yr 3 Yr 4 Yr 5
P1: (current) Iraq Private Bank Loans to Total Private Sector Deposits
21%
53% 56% 59% 62% 65% 68%
0%
10%
20%
30%
40%
50%
60%
70%
80%
2010 Basline Yr 1 Yr 2 Yr 3 Yr 4 Yr 5
P1: (proposed) L/D Ratio at Private Banks ‐Baseline and Targets
State Bank 2010 L/D ratio Private Banks ‐ Baseline and targets
USAID Iraq Financial Development Project
Performance Management Plan (PMP) List of Indicators Component 1
LTO1
LTO2
Program
Objective
Program
Area
Program
Element
Long Term
Objective
PMP IR
#
Intermediate Result (from contract)
PMP
Indicator #
Indicator TitleUnit of
Measure Data Source
Frequency
of
Collection Baseline
Associated
Deliverable
Yr
1
Yr
2
Yr
3
Yr
4
Yr
5
5 Year
Total Cogn
izan
t
Project
Component
1.1.1 Number of Associations accepting USG Technical Assistance
Number of
Association[s]
(and Branches)
Project Records Quarterly 0 D111; D112 1* 0 0 0 0 1 1
1.1.2 Federation of Private Bankers reaches Financial SustainabilityRatio/
Percentage
Association
membership
records
Quarterly 0 D111; D112 20% 60% 100% 100% 100% 100% 1
1.1.3Total number of institutional owners of the Federation of
Private BankersTotal # of owners
Federation
RecordsQuarterly 0 D111; D112 13 12 0 0 0 25 1
1.1.3a Number of Men
1.1.3b Number of Women
1.1.4Overall Owner Satisfaction with the Federation of Private
Bankspercentage
Meeting
MinutesQuarterly 0 D111; D112 75% 75% 75% 75% 75% 75% 1
4 4.3 4.3.1 LTO2 1.3
Stakeholder organization’s capacity is developed to
conduct policy research, public private dialogue,
advocacy and public education efforts to achieve
targeted priority reforms
1.2.1
Number of policy research documents, public‐private
dialogue sessions, advocacy campaigns and public education
measures
Number of
documents,
events,
campaigns,
publications
Private
Financial Sector
Association[s]
Quarterly 0D131; D132;
D133; D1346 18 22 27 31 104 1
4 4.3 4.3.1 LTO2 1.2
Process of Iraqi‐led, results‐oriented, private‐public
dialogue among the industry association(s), the
CBI, CoR and other GoI entities is in place and
sustained
1.3.1
Number of Public‐Private Task Force events carried out for
the purpose of bringing about necessary changes in the
commerical banking sector.
Number of
events
Stakeholder
Association(s)
plus CBI, CoR,
other GOI
entities
Quarterly 0D121; D122;
D123; D1240 3 4 4 4 15 1
4 4.3 4.3.1 LTO2 1.4Regional and international linkages with other such
associations established1.4.1
Number of official linkages established between the Iraq
Banker's Association(s) and Regional and International
Bankers associations as a result of USG assistance.
Number of
official, written
linkages
Stakeholder
Association(s) Annual 0 D141; D142 0 2 3 3 4 12 1
1.5.0
Four to Five targeted policy, legal, regulatory or
administrative reforms are identified and reform efforts
initiated.
Number Project Records Quarterly 0 D151 4‐5 0 0 0 0 4‐5 1
1.5.1Policy, Legal, Regulatory or Administrative Reform #1
Implementation Milestones
Milestones
(TBD)Project Records Quarterly TBD D151 TBD TBD TBD TBD TBD TBD 1
1.5.2Policy, Legal, Regulatory or Administrative Reform #2
Implementation Milestones
Milestones
(TBD)Project Records Quarterly TBD D151 TBD TBD TBD TBD TBD TBD 1
1.5.3Policy, Legal, Regulatory or Administrative Reform #3
Implementation Milestones
Milestones
(TBD)Project Records Quarterly TBD D151 TBD TBD TBD TBD TBD TBD 1
1.5.4Policy, Legal, Regulatory or Administrative Reform #4
Implementation Milestones
Milestones
(TBD)Project Records Quarterly TBD D151 TBD TBD TBD TBD TBD TBD 1
1.5.5Policy, Legal, Regulatory or Administrative Reform #5
Implementation Milestones
Milestones
(TBD)Project Records Quarterly TBD D151 TBD TBD TBD TBD TBD TBD 1
USAID Long Term
Objectives (LTO):
Create jobs by strengthening the private financial sector’s ability to provide increased financial intermediation services
Improve the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
1.5
LTO2 1.1
LTO2
4 4.3 4.3.1
One or more industry associations that represents
effectively the interests of the private financial
sector and is self‐sustainable, as measured by
financial sustainability and member involvement
and satisfaction.
TARGETS
4 4.3 4.3.1
Four to five targeted policy, legal, regulatory and
administrative reforms implemented that
quantitatively and qualitatively expand financial
sector intermediation
Because the Federation of Private Bankers is an LLC owned by Private Banking Institutions rather than by individual persons,
Gender is not relavent to this indicator and has been removed from the PMP.
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 1.1.1
NO
YES
1.1
Expected Result Per Contract
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)
TBD
none at this time
none at this time
TBD
TBD
OTHER NOTES:
Year Target Actual Notes
2010 0 No Associations are committed to the project at startup
2011 1 1The Federation of Private Banks has been established and no other "association" is anticipated to be supported by the project as of end of year 1.
2012 0
2013 0
2014 0
2015 0
Kathy Walsh
Program Objective
Date of Initial Data Quality Assessment:
Known Data Limitations and Significance (if any):
Indicator Title:
Unit of Measure:
Disaggregated by:
Rationale:Because of the small number of private banks in Iraq (36), this indicator number will be limited to one national association with regional or provincial branches. Branches will be counted as an additional association show the extent of outreach for the association activities.
Association Charter/Bylaws and subsequent Board Resolutions/ USAID Program records
Association (and Branches) accepting USG Technical Assistance
Number of Associations and Branches
One or more industry associations that represents effectively the interests of the private financial sector and is self-sustainable, as measured by financial sustainability and member involvement and satisfaction.
4 Economic Growth
4.3 Financial Sector
Improve the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
No viable bankers association is being supported by the project at the startup, therefore the b aseline is 0. Furthermore, only one "association" will be supported by the project. The Decision to expand to other provinces will be based on feasibility analysis by the Federation of Private banks rather than with the project. Therefore, no branch targets will be measured by this indicator..
Data Source:
Method of data acquisition:
Data Acquisition Freq & Reporting:
Estimated Cost of Data Acquisition:
Individual responsible for data collection:
Individual responsible for project reporting data:
Location of Data Storage:
Notes on baselines/Targets:
Actions Taken or Planned to address Data Limitations:
Date of Future Data Quality Assessments:
Procedures for Future Data Quality Assessments:
Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
Collection will be made by component 1 Staff from Association records, incorporated into project records.
William R. Schultz
Quarterly/Quarterly
N/A
Program Area
"F" indicator
Is this a Custom "Project Specific" Indicator?
Expected Result #
Program Element
Long Term Objective
Direction of Change: None - Target is 1 Association with provincial branches
Prescise Definition(s):The number of private banker associations that the Iraq Financial Sector Development program will provide technical and other assistance in order to achieve their goal.
type: output/outcome: Outputnone
4.3.1 Financial Sector Enabling Environment
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 1.1.2
NO
YES
1.1
Expected Result Per Contract
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)TBD
none at this time
none at this timeTBD
TBD
OTHER NOTES:
Year Target Actual Notes
2010 0% There are no associations receiving TA at project startup
2011
20% >600%
in year one, the owners of the Federation of Private Banks invested $1.1 million USD to use for all operating purposes. This level of funding provides for more than 6 x the planned operating budget. However, this ratio will need to be montiored over the life of the projectto determine the perpetual sustainability of the Federation. Nevertheless, this investment by the private banks represents a significant event and support by project beneficiaries.
2012 60%
2013 100% Deliverables require sustainability target to be met in Year 3.
2014 100%
2015 100%
Kathy Walsh
Program Objective
Date of Initial Data Quality Assessment:
Known Data Limitations and Significance (if any):
Indicator Title:
Unit of Measure:
Disaggregated by:
Rationale:Financial sustainability indicates that the association will continue after donor Technical and financial assistance ends.
Association Accounting records
Bankers Association(s) Financial Sustainability
Financial Sustainability Ratio
One or more industry associations that represents effectively the interests of the private financial sector and is self-sustainable, as measured by financial sustainability and member involvement and satisfaction.
4 Economic Growth
4.3 Financial Sector
Improve the enabling environment for private financial sector expansion through capacity buildinglegal and regulatory reform
Data Source:
Method of data acquisition:
Data Acquisition Freq & Reporting:
Estimated Cost of Data Acquisition:
Individual responsible for data collection:
Individual responsible for project reporting data:
Location of Data Storage:
Notes on baselines/Targets:
Actions Taken or Planned to address Data Limitations:
Date of Future Data Quality Assessments:
Procedures for Future Data Quality Assessments:
Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
Program staff to review accounts and accounting policy
William R. Schultz
Annual Collection / Annual Report
N/A
Program Area
"F" indicator
Is this a Custom "Project Specific" Indicator?
Expected Result #
Program Element
Long Term Objective
Precise Definition(s):
Financial sustainability is the degree to which an organization collects sufficient revenues from sale of its services to cover the full costs of its activities, evaluated on an opportunity-cost basis. Expressed as a percentage, financial sustainablity is calculated using the formula: (operational cost + financial costs) / gross revenue. Full financial sustainability is the situation in which the revenues an organization generates from its clients cover the full (opportunity) costs of its activities,thus allowing it to continue operating at a stable or growing scale without ongoing support from governments, donor agencies, or charitable organizations.
type: output/outcome
Direction of Change:
Outcome
Higher = Better: 100% or above indicates complete Financial Sustainability
by association or none
4.3.1 Financial Sector Enabling Environmen
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 1.1.3, a & b
NO
YES
1.1
Expected Result Per Contract
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)
TBD
none at this time
none at this time
TBD
TBD
OTHER NOTES:
Year Target 1.1.3 Actual Notes2010 12 0 Baseline
2011 13 13 Original Owners of the Federation as shown in the registration documents
2012 4Discussions are underway with 4 additional institutional owners who are interested in investing in the Federation in FY 2012
2013 0
2014 0
2015 0
Rationale:
Method of data acquisition:
4 Economic Growth
4.3 Financial Sector4.3.1 Financial Sector Enabling EnvironmentImprove the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
Higher = Better
noneOutput
One or more industry associations that represents effectively the interests of the private financial sector and is self-sustainable, as measured by financial sustainability and member involvement and satisfaction.
Total number of the institutional owners of the Federation of Private Banks.Precise Definition(s):
Disaggregated by:
Unit of Measure:
Total number of institutional owners of the Federation of Private Banks.
number
The number of owners investing their own funds in the federation reflect the over-all interest of the industry in pursuing the advocacy, publicity and training efforts carried out by the Federation of private banks. The number of owners of the Federation is limited by the total number of private banks in Iraq.
Individual responsible for project reporting data:
Estimated Cost of Data Acquisition:
Direct Project review of membership records
Quarterly/Quarterly
N/A
Association membership records
Data Acquisition Freq & Reporting:
Individual responsible for data collection:
Data Source:
William R. Schultz
Kathy Walsh
type: output/outcome:
Direction of Change:
Program Objective
Indicator Title:
Program AreaProgram Element
Long Term Objective
"F" indicator
Is this a Custom "Project Specific" Indicator?
Expected Result #
Notes on baselines/Targets:
Date of Initial Data Quality Assessment:
Known Data Limitations and Significance (if any):
Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
Actions Taken or Planned to address Data Limitations:
Date of Future Data Quality Assessments:
Procedures for Future Data Quality Assessments:
No viable association exists at project startup, therefore the baseline for this indicator is 0. Targets are based on best estimates and will be adjusted to reflect realistic expectations as knowledge is gained.
Location of Data Storage:
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 1.1.4
NO
YES
1.1
Expected Result Per Contract
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)TBD
none at this time
none at this time
TBD
TBD
OTHER NOTES:
Year Target Actual Notes
2010 0 No Association exists at start-up, hence baseline = 0
2011 75% 69%two General Assembly mtgs during last qtr of FY 11, 9 of 13 owners represented at each meeting.
2012 75%
2013 75%
2014 75%
2015 75%
Individual responsible for project reporting data: William R. Schultz
Location of Data Storage: Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
Procedures for Future Data Quality Assessments:
Notes on baselines/Targets:
No viable association exists at project startup, therefore the baseline for this indicator is 0. Targets are based on best estimates and will be adjusted to reflect realistic expectations as knowledge is gained. However, it is unrealistic to expect an average satistfaction of 100% because discontent is present in all organizations, anywhere in the world.
Date of Initial Data Quality Assessment:
Known Data Limitations and Significance (if any):
Actions Taken or Planned to address Data Limitations:
Date of Future Data Quality Assessments:
Direction of Change: Higher = Better
Kathy Walsh
Rationale:
For the purpose of this indicator, "Member" is defined as institutional owner of the Federation of Private Banks, LLC. Member satisfaction as measured by their participation in the General Assembly meetings demonstrates that owner's satisfaction with the work of the organization remains high. There will be instances where owners will disagree with one another on issues, but their collective participation in the decision making process of the company/Federation is an accurate reflection of their continuing satisfaction with the work and operations of the company.
Data Source: General Assembly meeting minutes
Method of data acquisition: project staff will record attendence from minutes provided by the Federation
Data Acquisition Freq & Reporting: Data will be aquired from each meeting and reported quarterly, then averaged annually.
Estimated Cost of Data Acquisition: N/A
Individual responsible for data collection:
Unit of Measure: percentage
Disaggregated by: none
type: output/outcome: Output
One or more industry associations that represents effectively the interests of the private financial sector and is self-sustainable, as measured by financial sustainability and member involvement and satisfaction.
Indicator Title: Overall Owner Satisfaction with the Federation of Private Banks
Precise Definition(s):
Owner satisfaction is measured by the continuing participation in the decision making processes of the General Assembly meetings. Satisfaction will be measured by the aggregate quarterly percentage of owners who attend the General Assembly meetings. The formula that will be used to calculate this percentage is: the accumulative average number of owners present at each meeting during the quarter divided by the number of General Assembly meetings during the quarter. Example: at meeting 1 there are 10 owners represented at the meeting and at that time there are 13 owners, the average for the meeting is 77%. At the second meeting, there are 2 new owners and each send a representative to the meeting, making the attendance average 12/15, or 80%. there are two more meetings during the quarter with attendance average of 80% and 85%. The quarterly average would then be: (77% + 80% + 80% + 85%) / 4 meetings = 80.5%.
Long Term ObjectiveImprove the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
"F" indicator
Is this a Custom "Project Specific" Indicator?
Expected Result #
Program Objective 4 Economic Growth
Program Area 4.3 Financial Sector
Program Element 4.3.1 Financial Sector Enabling Environment
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 1.2.1
NO
YES
1.2
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)
TBD
none at this time
none at this time
TBD
TBD
OTHER NOTES:
Year Target Actual Notes
2010 0 There are no such efforts being made at this point
20110 0
Targets delayed by Federation focus on Registration. Rescheduled to begin in FY2012
2012 6
2013 18
2014 23
2015 27
Program Element
Long Term Objective
Date of Future Data Quality Assessments:
Direction of Change: Higher = Better
Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
TBD
Indicator Title:
Unit of Measure:
Disaggregated by:
Rationale:
Number of policy research documents, public-private dialogue sessions, advocacy campaigns and public education measures
None
Number documents, events, campaigns, publications
Precise Definition(s): The actual number of policy research, public-private dialogue, advocacy and public education efforts made by the private bankers association
Program Objective
Date of Initial Data Quality Assessment:
Program Area
"F" indicator
Is this a Custom "Project Specific" Indicator?
Expected Result #
This indicator measures the level of effort being made by the private bankers to develop the private financial sector on a sustainable basis
Stakeholder Associations, CBI, CoR other GOI entities, project records
Expected Result Per ContractStakeholder organization’s capacity is developed to conduct policy research, public private dialogue, advocacy and public education efforts to achieve targeted priority reforms
Type: Output/Outcome: Outcome
4 Economic Growth
4.3 Financial Sector4.3.1 Financial Sector Enabling EnvironmentImprove the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
Data Source:
Method of data acquisition:
Data Acquisition Freq & Reporting:
Estimated Cost of Data Acquisition:
Individual responsible for data collection:
Individual responsible for project reporting data:
Location of Data Storage:
Notes on baselines/Targets:
Procedures for Future Data Quality Assessments:
Known Data Limitations and Significance (if any):
Quarterly
n/a/
William R. Schultz
Kathy Walsh
Actions Taken or Planned to address Data Limitations:
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 1.3.1
NO
YES
1.3
Expected Result Per Contract
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)
TBD
none at this time
none at this time
TBD
TBD
OTHER NOTES:
Year Target Actual Notes
2010 0 No stakeholders at project startup
2011 0
2012 3
2013 4
2014 4
2015 4
Kathy Walsh
Program Objective
Date of Initial Data Quality Assessment:
Known Data Limitations and Significance (if any):
Indicator Title:
Unit of Measure:
Disaggregated by:
Rationale:This indicator measures the effectiveness of the public-private Task Force and level of commitmentto improving the private financial sector. An increasing or consistant volume of output (number) provides evidence of a sustained process within the association.
Stakeholder Associations, CBI, CoR or other GOI entities aggregated into USAID project records.
Number of Public-Private Task Force events carried out for the purpose of bringing about necessary changes in the commerical banking sector.
Number of events
Process of Iraqi-led, results-oriented, private-public dialogue among the industry association(s), the CBI, CoR and other GoI entities is in place and sustained
4 Economic Growth
4.3 Financial Sector
Improve the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
Data Source:
Method of data acquisition:
Data Acquisition Freq & Reporting:
Estimated Cost of Data Acquisition:
Individual responsible for data collection:
Individual responsible for project reporting data:
Location of Data Storage:
Notes on baselines/Targets:
Actions Taken or Planned to address Data Limitations:
Date of Future Data Quality Assessments:
Procedures for Future Data Quality Assessments:
Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
Data will be accumulated as component staff monitor and support Task Force activities. A complete accounting will be conducted semi-annually and reported semi-annually.
William R. Schultz
Quarterly/Quarterly
N/A
Program Area
"F" indicator
Is this a Custom "Project Specific" Indicator?
Expected Result #
Program Element
Long Term Objective
Precise Definition(s):This indicator represents the number of events that is carried out by the public-private Task Force for the purpose of bringing about necessary change in the commerical banking sector.
type: output/outcome:
Direction of Change:
Output
higher = better
none
4.3.1 Financial Sector Enabling Environment
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 1.4.1
NO
YES
1.4
Expected Result Per Contract
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)
TBD
none at this time
none at this time
TBD
TBD
OTHER NOTES:
Year Target Actual Notes
2010 0 No linkages currently exist
2011 0
2012 2
2013 3
2014 3
2015 4
Kathy Walsh
Program Objective
Date of Initial Data Quality Assessment:
Known Data Limitations and Significance (if any):
Indicator Title:
Unit of Measure:
Disaggregated by:
Rationale:Linkages can legitimize relationships, foster communications and cooperation, joint activities, sharing of data and information, hosting delegations
Stakeholder Associations
Number of official linkages established between the Iraq Bankers Association(s) and regional and international bankers' associations as a result of USG assistance
Number of official, written affiliations
Regional and international linkages with other such associations established
4 Economic Growth
4.3 Financial Sector
Improve the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
Data Source:
Method of data acquisition:
Data Acquisition Freq & Reporting:
Estimated Cost of Data Acquisition:
Individual responsible for data collection:
Individual responsible for project reporting data:
Location of Data Storage:
Notes on baselines/Targets:
Actions Taken or Planned to address Data Limitations:
Date of Future Data Quality Assessments:
Procedures for Future Data Quality Assessments:
Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
Association records/Program records
William R. Schultz
Annual Collection / Annual Report
TBD
Program Area
"F" indicator
Is this a Custom "Project Specific" Indicator?
Expected Result #
Program Element
Long Term Objective
Precise Definition(s):
Number of linkages between associations are Letters of Agreement, MoU's or similar bi-lateral and multi-lateral agreements. Each type of agreement that is executed by the assocations established by the project and similar associations in the region will be counted for this indicator.
Type: output/outcome:
Direction of Change:
Outcome
Higher = better
None
4.3.1 Financial Sector Enabling Environment
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 1.5.0
NO
YES
1.5
Expected Result Per Contract
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)
TBDNone at this time
none at this time
TBD
TBD
OTHER NOTES:
Year Target Actual Notes2010 0 No reforms targeted at start up, therefore baseline = 0
20110 0
Targets delayed by Federation focus on Registration. Rescheduled to begin in FY2012
2012 4-5 Targets to be included as part of Federation Annual Plan
2013
2014
2015
Precise Definitions:As reforms are identified and a decision is made to begin efforts to implement reforms, the reform monitoring process will begin by being entered into the PMP and a count on this indicator will be made.
type: Output/Outcome:
Direction of Change:
Output
Higher = Better
none
as of project start there have been no reforms targeted, therefore the baseline is 0
Data Source:Method of data acquisition:
Data Acquisition Freq & Reporting:
Estimated Cost of Data Acquisition:Individual responsible for data collection:
Individual responsible for project reporting data:
Location of Data Storage:
Notes on baselines/Targets:
Actions Taken or Planned to address Data Limitations:
Date of Future Data Quality Assessments:
Procedures for Future Data Quality Assessments:
Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
Component 1 project progress reports will be captured by the PMU
Quarterly Collection / Annual Report
N/A
Program Objective
Date of Initial Data Quality Assessment:Known Data Limitations and Significance (if any):
Indicator Title:
Unit of Measure:
Disaggregated by:
Rationale:
The purpose of this indicator is to measure progress toward identifying reforms and that the process to initiate them has begun. Unique indicators will be assigned to each reform that has been identified under this indicator and will be tracked separately. I should be noted that though the initial target is 4-5 reforms, opportunities to increase targets are envisioned. If these opportunities become viable, the targets for this indicator will be adjusted accordingly. As a means to expedite the long process of reform, It is expected that necessary reforms will be identified and efforts will be initiated during the process of association formation through a series of bankers working sessions. Once identified, each reform will be assigned a new PMP Indicator with its own unique milestones following the guidance of TIPS 14, monitoring the Policy and Reform Process.
Program Area
"F" indicator
Is this a Custom "Project Specific" Indicator?
Expected Result #
Program Element
Long Term Objective
4 Economic Growth
4.3 Financial Sector
William R. Schultz
Kathy Walsh
4.3.1 Financial Sector Enabling EnvironmentCreate jobs by strengthening the private financial sector’s ability to provide increased financial intermediation services
Project Records
Four to Five targeted policy, legal, regulatory or administrative reforms are identified and reform efforts initiated.
Number
Four to five targeted policy, legal, regulatory or administrative reforms implemented that quantitatively and qualitatively expand financial sector intermediation
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 1.5.1 -1.5.5
NO
YES
1.5
Expected Result Per Contract
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)
TBDNone at this time
none at this time
TBD
TBD
OTHER NOTES:
Year Target Actual Notes2010
20110 0
Targets delayed by Federation focus on Registration. Rescheduled to begin in FY2012
2012 TBD
2013 TBD
2014 TBD
2015 TBD
Kathy Walsh
Program Objective
Date of Initial Data Quality Assessment:Known Data Limitations and Significance (if any):
Indicator Title:
Unit of Measure:
Disaggregated by:
Rationale: TBD
TBD
Policy, Legal, Regulatory or Administrative Reform #1 Implementation Milestones
TBD
Four to five targeted policy, legal, regulatory or administrative reforms implemented that quantitatively and qualitatively expand financial sector intermediation
4 Economic Growth
4.3 Financial Sector
Create jobs by strengthening the private financial sector’s ability to provide increased financial intermediation services
All reform indicators will be set at the time the reform is identified and the process begins
Data Source:Method of data acquisition:
Data Acquisition Freq & Reporting:
Estimated Cost of Data Acquisition:Individual responsible for data collection:
Individual responsible for project reporting data:
Location of Data Storage:
Notes on baselines/Targets:
Actions Taken or Planned to address Data Limitations:
Date of Future Data Quality Assessments:
Procedures for Future Data Quality Assessments:
Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
TBD
William R. Schultz
Quarterly Collection / Annual Report
N/A
Program Area
"F" indicator
Is this a Custom "Project Specific" Indicator?
Expected Result #
Program Element
Long Term Objective
Precise Definition(s):
The pricise definition of indicators 1.5.1-1.5.5 will be determined when a targeted reform is identified and a decision is made by the Private Bankers Association (or other groups supported by the project) and a unique PIRS for each individual reform will be created. The indicator definition will depend on the type of reform that is targeted as well as the specific approach that is most appropriate to monitor the unique reform process. Definition and rationale for this indicator will follow the guidelines and recommendations contained in TIPS 14: Monitoring the Policy and Reform Process .
type: Output/Outcome:
Direction of Change:
Output
Higher = Better
none
4.3.1 Financial Sector Enabling Environment
USAID Iraq Financial Development Project
Performance Management Plan (PMP) List of Indicators Component 2
LTO1
LTO2
Program
Objective
Program
Area
Program
Elem
ent
Long Term
Objective
PMP IR
#
Intermediate Result (from contract)
PMP
Indicator #
F Indicator
Indicator TitleUnit of
Measure Data Source
Frequency
of
Collection Baseline
Associated
Deliverable
Yr
1
Yr
2
Yr
3
Yr
4
Yr
5
5 Year
Total Cogn
izant
Project
Component
2.1.1 F
4.3.2‐2 Number of Material Improvements in the
Infrastructure institutions that reduce Market Risks made
this year with USG Assistance
Number of
Improvements
Project
RecordsAnnual 0 D219 0 0 1 0 0 1 2
2.1.2Milestones to putting the legal and regulatory framework
in place and making a credit bureau operational.
Milestones
(see PIRS)
Project and
Stakeholder
Documents
Quarterly 0
D211;D212;
D213; D214;
D215; D216;
D217; D218
1‐5 6‐8 0 0 0 8 2
2.1.3 Number of inquiries received by Credit Bureau Number of
Inquiries
Credit Bureau
RecordsQuarterly 0 D219 TBD TBD TBD TBD TBD TBD 2
2.1.4Number of banks/NBFIs and other subscribers to bureau
services
Number of
Subscribers
Credit Bureau
RecordsQuarterly 0 D219 TBD TBD TBD TBD TBD TBD 2
2.1.5 Number of data records held by Credit BureauNumber of Data
Records
Credit Bureau
RecordsQuarterly 0 D219 TBD TBD TBD TBD TBD TBD 2
2.2.1
Milestones to measure the steps necessary to establish
The Banker's Training Institute that is sustainable and an
effective industry training mechanism.
Milestones
(see PIRS)
Project
RecordsQuarterly 0
D221; D222;
D224; D2281 2 2 1 2 8 2
2.2.1a Bankers Training Institute Sustainability Ratio
Ratio
(see PIRS for
Definition)
BTI Financial
RecordsQuarterly 0 D228 0% 5% 7% 10% 15% 15% 2
2.2.2 F4.3.2‐1: Number of Financial Sector Professionals trained
on international standards this year with USG assistance.
Total # of
Professionals
Training
RecordsAnnual 0
D223; D225;
D226; D2270 100 150 200 200 650 2
2.2.2a F Number of Men # MenTraining
RecordsAnnual 0
D223; D225;
D226; D2270 TBD TBD TBD TBD TBD 2
2.2.2b F Number of Women #womenTraining
RecordsAnnual 0
D223; D225;
D226; D2270 TBD TBD TBD TBD TBD 2
2.3.1 F
4.3.2‐2 Number of Material Improvements in the
Infrastructure institutions that reduce Market Risks made
this year with USG Assistance
Number of
Improvements
Implementing
Partners,
project records
Annual 0 D231; D232 0 0 1 0 0 1 2
2.3.1a Phase I CompletedMilestones
(see PIRS)
Project
RecordsQuarterly 0 D231 10 0 0 0 0 10 2
2.3.1b Phase II Completed Milestones
(see PIRS)
Project
RecordsQuarterly 0 D232 0 19 0 0 0 19 2
4 4.3 4.3.2 LTO2 2.4CBI has a complete Request for Proposals for
CORE system that could be issued for bid2.4.1
An RFP for the CORE banking system is delivered to the CBI
to carry out the solicitation
Milestones
(see PIRS)
project
RecordsQuarterly 0 NONE 0 7 0 0 0 7 2
2.5.1 Phase 1 for the Data Depository System is completedMilestones
(see PIRS)
Project
RecordsQuarterly 0 D253 0 3 0 0 0 3 2
2.5.2 Phase II for the Data Depository System is completedMilestones
(see PIRS)
Project
RecordsQuarterly 0 D254 0 0 2 0 0 2 2
USAID Long Term
Objectives (LTO):
Create jobs by strengthening the private financial sector’s ability to provide increased financial intermediation services
Improve the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
4 4.3
4 4.3 4.3.1 LTO2
TARGETS
2.1
A legal and regulatory framework for establishing
a credit bureau is in place; and, a credit bureau is
operational
2.2
A sustainable organization/partnership for
providing financial sector training and
professional development is established and is
able to deliver courses based on international
standards and in response to financial sector
requirements
4.3.2 LTO1
2.5
CBI staff is trained on the new Centralized Data
Repository reporting requirements and can
manage the system
A comprehensive retail payments system is
operational and a solution for a National Switch
model is proposed.
4 4.3 4.3.2 LTO2 2.3
4 4.3 4.3.2 LTO2
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 2.1.1
YES
NO
2.1
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)TBD
none at this time
none at this time
TBD
TBD
OTHER NOTES:
Year Target Actual Notes
2010 0 number of Improvements, Credit Bureau Established
2011
2012
2013 1 Work is complete and Credit Bureau is Operational in Yr 3
2014
2015
Procedures for Future Data Quality Assessments:
Notes on baselines/Targets:No Improvements as of project Startup therefore Baseline = 0. This standard F indicator reflects only 1 improvement target: establishing a credit Bureau. The expected and actual results will be aggregated with other project components with 4.3.2-2 Indicators.
Prescise Definition(s):
The number of improvements in the effectiveness, credibility, ease of access and inclusiveness of institutions that serve to reduce market lending risks, including property registries, collateral registries, credit bureaus, debt collection mechanisms, and court judgment enforcement mechanisms
Type: Output/Outcome Output
Direction of Change: Higher = better
Date of Initial Data Quality Assessment:
Individual responsible for data collection: Mohammed Shohaieb/David Munro
Known Data Limitations and Significance (if any):
Actions Taken or Planned to address Data Limitations:
Date of Future Data Quality Assessments:
Individual responsible for project reporting data: William R. Schultz
Location of Data Storage: Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
Method of data acquisition: TBD
Data Acquisition Freq & Reporting: Annual/Annual
Estimated Cost of Data Acquisition: N/A
Indicator Title: 4.3.2-2 Number of Material Improvements in the infrastructure institutions that reduce market risks made this year with USG Assistance
Unit of Measure: Number of Improvements
Data Source: Project Records
Disaggregated by: None
Rationale:
The core of financial intermediation is risk management. Any institution that serves to reduce market lending risks and loan recovery enables lenders to expand their lending to weaker clients, opening access to credit and lowering the cost of credit. Expanding access to credit enables economic factors to leverage their own resources and expand their economic activity, contributing to improved economic growth
A legal and regulatory framework for establishing a credit bureau is in place; and, a credit bureau is operational
Expected Result Per Contract
Program Objective 4 Economic Growth
Program Area 4.3 Financial Sector
Program Element 4.3.2 Financial Sector Capacity
USAID Long Term Objective Create jobs by strengthening the private financial sector’s ability to provide increased financial intermediation services
"F" indicator
Is this a Custom "Project Specific" Indicator?
Intermediate Result No:
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 2.1.2
NO
YES
2.1
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)
TBD
none at this time
none at this time
TBD
TBD
OTHER NOTES:
Year Target Actual Notes
2010 0 Milestone Number achieved
2011 1-3 Milestones 1-3 are completed in year 1
2012 3-8 Milstones 4-8 are completed in year 2
2013
2014
2015
Expected Result Per Contract
Project and stakeholder documentation
Precise Definition(s):
1) Public-private Steering Committee for Design of Credit Bureau Established2) GOI Commitment Confirmed3) Iraqi Driven Credit Bureau Business Plan and Model Developed4) Legal and Regulatory Requirements for Credit Bureau Identified and Recommendations for Needed Changes Drafted
5) Public Education Campaign(s) Launched to Inform Public About the Role of a Credit Bureau in the Financial Sector6) Sources of Data and Data Requirements for Launch of Credit Bureau Resolved7) Legal and Regulatory Requirements for Credit Bureau are implemented
A legal and regulatory framework for establishing a credit bureau is in place; and, a credit bureau is operational
Type: Output/Outcome Output
Direction of Change: 1-8, 8 = complete
Milestone
These milestones are found in the project Work Plan and described in detail, including the estimated timeline for achieving them. The following eight (8) fundamental milestones will be tracked for this indicator:
Milestones to measure the steps of putting the legal and regulatory framework in place and making a credit bureau operational.
Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
Component 2 staff will collect evidential documentation as it becomes available and submit it to the M&E Department.
Quarterly/Quarterly
N/A
William R. Schultz
Mohammed Shohaieb/David Munro
Program Objective
Date of Initial Data Quality Assessment:
Known Data Limitations and Significance (if any):
Indicator Title:
Unit of Measure:
Disaggregated by:
Rationale:This milestone indicator is useful to management in measuring progress toward achieving the expected result in clearly defined steps, including a timeline for completion.
Program Area
"F" indicator
Is this a Custom "Project Specific" Indicator?Intermediate Result No:
Program Element
4 Economic Growth
4.3 Financial Sector4.3.2 Financial Sector Capacity
USAID Long Term Objective
Since no work as commenced as of project start-up, baseline is 0. Targets are sequential milestone numbers.
Data Source:
Method of data acquisition:
Data Acquisition Freq & Reporting:
Estimated Cost of Data Acquisition:
Individual responsible for data collection:
Individual responsible for project reporting data:
Location of Data Storage:
Notes on baselines/Targets:
Actions Taken or Planned to address Data Limitations:
none
Date of Future Data Quality Assessments:
Procedures for Future Data Quality Assessments:
Create jobs by strengthening the private financial sector’s ability to provide increased financial intermediation services
8) Credit Bureau Operations Initiated
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 2.1.3
NO
YES
2.1
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)
TBD
none at this time
none at this time
TBD
TBD
OTHER NOTES:
Year Target Actual Notes
2010 0 Number of Inquiries
2011
2012
2013
2014
2015
4 Economic Growth
4.3 Financial Sector4.3.2 Financial Sector CapacityCreate jobs by strengthening the private financial sector’s ability to provide increased financial intermediation services
Expected Result Per Contract A legal and regulatory framework for establishing a credit bureau is in place; and, a credit bureau is operational
Is this a Custom "Project Specific" Indicator?Intermediate Result No:
Program Element
USAID Long Term Objective
Direction of Change: Higher = Better
Precise Definition(s):
Type: Output/Outcome:
This is the number of requests received from lenders regarding the credit history of potential new clients.
Outputnone
Number of Inquiries received by Credit Bureau
Number of Inquiries
Program Objective
Date of Initial Data Quality Assessment:
Known Data Limitations and Significance (if any):
Indicator Title:
Unit of Measure:
Disaggregated by:
Rationale:
Program Area
In a functioning credit bureau the number of credit records inquiries indicates that lenders are using the system as intended.
Credit Bureau Records
Individual responsible for data collection:
Individual responsible for project reporting data:
Location of Data Storage:
"F" indicator
Data Source:
Method of data acquisition:
Data Acquisition Freq & Reporting:
Estimated Cost of Data Acquisition:
Notes on baselines/Targets:
Date of Future Data Quality Assessments:
Procedures for Future Data Quality Assessments:
Actions Taken or Planned to address Data Limitations:
Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
Since a credit bureau does not exist as of start-up, the baseline is 0. The Iraq Credit Bureau will establish indicator targets based on an assessment of the observations of actual data recorded during start-up operations
Component 2 staff will collect evidencial documentation as it becomes available and submit it to the M&E Department.
Quarterly/Quarterly
N/A
William R. Schultz
Mohammed Shohaieb/David Munro
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 2.1.4
NO
YES
2.1
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)
TBD
none at this time
none at this time
TBD
TBD
OTHER NOTES:
Year Target Actual Notes
2010 Enter Baseline Data description here - be specific
2011
2012
2013
2014
2015
4 Economic Growth
4.3 Financial Sector
Create jobs by strengthening the private financial sector’s ability to provide increased financial intermediation services
Expected Result Per Contract A legal and regulatory framework for establishing a credit bureau is in place; and, a credit bureau is operational
Is this a Custom "Project Specific" Indicator?
Intermediate Result No:
Program Element
USAID Long Term Objective
Direction of Change: Higher = Better
Precise Definition(s):
Type: Output/Outcome:
The number of paid subscribers are the number of institutions that are officially signed on to the Credit Bureau for both reporting and receiving credit information on potential borrowers.
Outcomenone
Number of banks/NBFIs and other subscribers to Credit Bureau services
Number of Subscribers
Program Objective
Date of Initial Data Quality Assessment:
Known Data Limitations and Significance (if any):
Indicator Title:
Unit of Measure:
Disaggregated by:
Rationale:
Program Area
The number of paid subscribers to the credit bureau services is indicative of active operations in place and therefore a measure of the intended result.
Credit Bureau Records
Individual responsible for data collection:
Individual responsible for project reporting data:
Location of Data Storage:
"F" indicator
Data Source:
Method of data acquisition:
Data Acquisition Freq & Reporting:
Estimated Cost of Data Acquisition:
Notes on baselines/Targets:
Date of Future Data Quality Assessments:
Procedures for Future Data Quality Assessments:
Actions Taken or Planned to address Data Limitations:
Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
Since a credit bureau does not exist as of start-up, the baseline is 0. The Iraq Credit Bureau will establish indicator targets based on an assessment of the observations of actual data recorded during start-up operations
Component 2 staff will collect evidencial documentation as it becomes available and submit it to the M&E Department.
Quarterly/Quarterly
N/A
William R. Schultz
Mohammed Shohaieb/David Munro
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 2.1.5
NO
YES
2.1
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)
TBD
none at this time
none at this time
TBD
TBD
OTHER NOTES:
Year Target Actual Notes
2010 Enter Baseline Data description here - be specific
2011
2012
2013
2014
2015
4 Economic Growth
4.3 Financial Sector4.3.2 Financial Sector CapacityCreate jobs by strengthening the private financial sector’s ability to provide increased financial intermediation services
Expected Result Per ContractA legal and regulatory framework for establishing a credit bureau is in place; and, a credit bureau is operational
Is this a Custom "Project Specific" Indicator?
Intermediate Result No:
Program Element
USAID Long Term Objective
Direction of Change: Higher = Better
Precise Definition(s):
Type: Output/Outcome:
This is the number of credit records for individual bank/NBFI customers reported and held by the Credit Bureau which are used as the basis for issuing credit reports.
Outputnone
Number of Data Records held by Credit Bureau
Number of Data Records
Program Objective
Date of Initial Data Quality Assessment:
Known Data Limitations and Significance (if any):
Indicator Title:
Unit of Measure:
Disaggregated by:
Rationale:
Program Area
The number of data records is another indicator that the credit bureau is operational as intended. Without banks reporting credit history of their clients, the credit bureau would not function. Likewise, if the number of credit records is very low, the credit bureau's effectiveness is greatly diminished.
Credit Bureau Records
Individual responsible for data collection:
Individual responsible for project reporting data:
Location of Data Storage:
"F" indicator
Data Source:
Method of data acquisition:
Data Acquisition Freq & Reporting:
Estimated Cost of Data Acquisition:
Notes on baselines/Targets:
Date of Future Data Quality Assessments:
Procedures for Future Data Quality Assessments:
Actions Taken or Planned to address Data Limitations:
Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
Since a credit bureau does not exist as of start-up, the baseline is 0. The Iraq Credit Bureau will establish indicator targets based on an assessment of the observations of actual data recorded during start-up operations
Component 2 staff will collect evidencial documentation as it becomes available and submit it to the M&E Department.
Quarterly/Quarterly
N/A
William R. Schultz
Mohammed Shohaieb/David Munro
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 2.2.1
NO
YES
2.2
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)
TBD
Milestone D2.2.8 appears to be ambiguous, lacks specific definition in the contract.
Discuss with USAID COTR/M&E Specialist to clearly define the deliverables established in the contract as actionable steps to achieving the stated goal. (See USAID ADS 203.4.2a)
TBD
TBD
OTHER NOTES:
Year Target Actual Notes
2010 0 Milestones to achieve establishing the Bankers Training Institute.
2011 1 D2.2.1 has been completed in Year 1
2012 2 D2.2.2-D.2.2.4 completed in Year 2
2013 2 D2.2.5-D2.2.6 completed in Year 3
2014 1 D2.2.7, expansion achieved in Year 4 & 5
2015 2 D2.2.7, expansion continues, D.2.2.8-Bankers Inst. In place.
A sustainable organization/partnership for providing financial sector training and professional development is established
Unit of Measure:
Disaggregated by:
Program Objective
Program Area
"F" indicator
Is this a Custom "Project Specific" Indicator?
Expected Result Per Contract
Quarterly Collection / Quarterly Report
N/a
William R. Schultz
Bob Viernum/David Munro
4 Economic Growth
4.3 Financial Sector4.3.1 Financial Sector Enabling EnvironmentImprove the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
The following milestones are described in detail, including the estimated timeline for achieving them, in the project Work Plan. The eight (8) fundamental milestones below (reference numbers correspond to the work plan: D2.2.1 - D2.2.8) will be tracked and reported for this indicator:
Outputnone
D2.2.7) Bank Institute Continues to Expand its Number of Courses Offered
Milestones to measure the steps necessary to establish The Banker's Training Institute that is sustainable and an effective industry training mechanism.
Milestones
D2.2.8) Bank Training Institute Established and Sustainable with Program Courses and Materials, Training of Trainers, etc.
sequential progression to completion: D2.2.1= step 1, D2.2.8 = Final step, result achieved
Rationale:This milestone indicator is useful to management in measuring progress toward achieving the expected result in clearly defined steps, including a timeline for completion. The expected resultand associated milestones themselves are dicated by the project contract.
Project Records
Intermediate Result No:
Program Element
USAID Long Term Objective
Indicator Title:
Type: Output/Outcome:
Direction of Change:
Precise Description:
D2.2.1) Business Plan and Model for Bank Training Institute completed
D2.2.2) Bank Training Institute Established
D2.2.3) Training of Trainers and Curriculum Development completed
D2.2.4) Regional Linkages to Other Bank Institutes Established
D2.2.5) Bank Training Institute Expands Number of Courses Offered
D2.2.6) Bank Institute Starts Offering Certificate Programs
As of project startup no work has been initiated so baseline is 0
Data Source:
Method of data acquisition:
Data Acquisition Freq & Reporting:
Estimated Cost of Data Acquisition:
Notes on baselines/Targets:
Date of Future Data Quality Assessments:
Procedures for Future Data Quality Assessments:
Actions Taken or Planned to address Data Limitations:
Hardcopy, Project Files & USAID; Electronic: Project Servers/OneSource
Date of Initial Data Quality Assessment:
Known Data Limitations and Significance (if any):
Individual responsible for data collection:
Individual responsible for project reporting data:
Location of Data Storage:
Component 2 staff will collect evidential documentation as it becomes available and submit it to the M&E Department.
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 2.2.1a
NO
YES
2.2
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)TBDUser Fees may not remain constant, which may skew the indicator over time.
In the event fluctuating fees are evident, it may become necessary to adjust targets or establish constants for the purpose of calculating shared operational cost coverage. Also, if the sector share between the private banks and state-owned banks changes targets will necessarily need to be revised accordingly.
TBD
TBD
OTHER NOTES:
Year Target Actual Notes
2010 0 At Start of project baseline is 0
2011 0% Design and setup of the BTI
2012 5%
2013 7%
2014 10%
2015 15%
Individual responsible for project reporting data: William R. Schultz
Location of Data Storage: Hardcopy, Project Files & USAID; Electronic: Project Servers/OneSource
Procedures for Future Data Quality Assessments:
Notes on baselines/Targets: As of project startup no work has been initiated so baseline is 0
Date of Initial Data Quality Assessment:
Known Data Limitations and Significance (if any):
Actions Taken or Planned to address Data Limitations:
Date of Future Data Quality Assessments:
Data Acquisition Freq & Reporting: Quarterly Collection / Quarterly Report
Estimated Cost of Data Acquisition: N/A
Individual responsible for data collection: Bob Viernum/David Munro
Rationale:
The BTI is a quasi-government institution established by Law # 36/ 1999 which means that operational costs will be covered by the government and by private bank user fees. Assuming that user fee scales will remain constant during the life of the program, a trend of higher percentage of costs being covered by private bank user fees over time will indicate that the institution has increasing value to the commercial private banks because more of their employees, staff and managers are participating in its programs, indicating a reasonably sustainable quasi-governmental institution. It is estimated that state banks comprise approximately 85% of the commercial banking sector. Therefore, If user fees paid by state banks rise to 15% of operating costs, this would indicate a 15/85 share of costs of all stakeholders, suggesting that the institution sustainability is equitably shared between the private sector and government.
Data Source: Bankers Training Institute Financial Records
Method of data acquisition:Component 2 staff will collect evidential documentation as it becomes available and submit it to the M&E Department.
Disaggregated by: none
Type: Output/Outcome: Output
Direction of Change: Higher = better
Indicator Title: Bankers Training Institute Sustainability Ratio
Precise Description:Sustainability of the Bankers Training Institute (BTI) is measured as a percent of operating costs covered by user fees to indicate both financial and intellectual sustainability: Total User Fees paid by the private banks / Total Operating Costs.
Unit of Measure: Percentage
Expected Result Per Contract A sustainable organization/partnership for providing financial sector training and professional development is established
Program Objective 4 Economic Growth
Program Area 4.3 Financial Sector
Program Element 4.3.1 Financial Sector Enabling EnvironmentUSAID Long Term Objective
p g p p g p ybuilding, legal and regulatory reform
"F" indicator
Is this a Custom "Project Specific" Indicator?
Intermediate Result No:
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 2.2.2, a & b
YES
NO
2.2
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)
TBD
none at this time
none at this time
TBD
TBD
OTHER NOTES:
Year Target Actual Notes
2010 0 Total number of professionals Trained each year
2011 02012 1002013 1502014 2002015 2002010 0 Total number of professionals Trained (Men)
2011 TBD
2012 TBD
2013 TBD
2014 TBD
2015 TBD
2010 0 Total number of professionals Trained (women)
2011 TBD
2012 TBD
2013 TBD
2014 TBD
2015 TBD
Program Objective
Program Area
Expected Result Per Contract
Precise Definition(s):
Type: Output/Outcome:
Indicator Title:
Unit of Measure:
Disaggregated by:
"F" indicator
Is this a Custom "Project Specific" Indicator?
Intermediate Result No:
Program Element
USAID Long Term Objective
William R. Schultz
Bob Viernum/David Munro
4 Economic Growth
4.3 Financial Sector4.3.1 Financial Sector Enabling EnvironmentImprove the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
The number of financial sector professionals – accountants, actuaries, insurance and pension specialists, bankers and other individuals that manage financial institutions, manage risk or provide operating services to the financial market that have been trained as a result of USG training activities (excluding supervisory staff, which is measured separately.)
Outputgender (men 2.2.2a/women 2.2.2b)
4.3.2-1 Number of Financial Sector Professionals trained on international standards this year with USG Assistance
number of professionals
Bankers Training Institute is able to deliver courses based on international standards and in response to financial sector requirements
Data Acquisition Freq & Reporting:
Estimated Cost of Data Acquisition:
Project Training Coordinator to report data to person responsible for data collection
Annual/Annual
N/A
Rationale:
A typical bank lending officer in a developed market will have an MBA or accounting degree, followed by up to five years of mentoring by experienced senior lenders before (s)he is qualified to assume any significant lending authority. In most developing countries, the education system does not provide a comparable base, and senior lenders often do not themselves have the technical skills to teach. Other financial sector specialists require a similar extensive learning curve before they can be reliable practitioners. Training programs that compensate for these gaps in skills development opportunities can substantially accelerate the rate at which a country can form the professionals needed to expand the economy
Notes on baselines/Targets:
Date of Future Data Quality Assessments:
Procedures for Future Data Quality Assessments:
Actions Taken or Planned to address Data Limitations:
Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
No Improvements as of project Startup therefore Baseline = 0. This standard F indicator reflects only one component element: Establishing a Banker's Training Institute. The expected and actual results will be aggregated with other project components with a 4.3.2-1 Indicator.
Date of Initial Data Quality Assessment:
Known Data Limitations and Significance (if any):
Training Event Request Forms and Post-training documents
Individual responsible for data collection:
Individual responsible for project reporting data:
Location of Data Storage:
Data Source:
Method of data acquisition:
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 2.3.1
YES
NO
2.3
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)
TBD
none at this time
none at this time
TBD
TBD
OTHER NOTES:
Year Target Actual Notes
2010 Enter Baseline Data description here - be specific
2011
2012
2013 1 Phase I and II have been completed, an IPS is functional
2014
2015
4 Economic Growth
4.3 Financial Sector4.3.2 Financial Sector CapacityImprove the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
Expected Result Per Contract A comprehensive retail payments system is operational and a solution for a National Switch model is proposed.
Is this a Custom "Project Specific" Indicator?
Intermediate Result No:
Program Element
USAID Long Term Objective
Higher = betterDirection of Change:
Precise Definition(s):
Type: Output/Outcome:
The number of improvements in the effectiveness, credibility, ease of access and inclusiveness of institutions that serve to reduce market lending risks, including property registries, collateral registries, credit bureaus, debt collection mechanisms, and court judgment enforcement mechanisms
Outcomenone
4.3.2-2 Number of Material Improvements in the infrastructure institutions that reduce market risks made this year with USG Assistance
Number of Improvements
Program Objective
Date of Initial Data Quality Assessment:
Known Data Limitations and Significance (if any):
Indicator Title:
Unit of Measure:
Disaggregated by:
Rationale:
Program Area
The core of financial intermediation is risk management. Any institution that serves to reduce market lending risks and loan recovery enables lenders to expand their lending to weaker clients, opening access to credit and lowering the cost of credit. Expanding access to credit enables economic factors to leverage their own resources and expand their economic activity, contributing to improved economic growth
Project Records
Individual responsible for data collection:
Individual responsible for project reporting data:
Location of Data Storage:
"F" indicator
Data Source:
Method of data acquisition:
Data Acquisition Freq & Reporting:
Estimated Cost of Data Acquisition:
Notes on baselines/Targets:
Date of Future Data Quality Assessments:
Procedures for Future Data Quality Assessments:
Actions Taken or Planned to address Data Limitations:
Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
No Improvements as of project Startup therefore Baseline = 0. This standard F indicator reflects only 1 improvement target: establishing a retail payment system. The expected and actual results will be aggregated with other project components with 4.3.2-2 Indicators.
TBD
Annual/Annual
N/A
William R. Schultz
David Munro
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 2.3.1a
NO
YES
2.3
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)
TBD
none at this time
none at this time
TBD
TBD
OTHER NOTES:
Year Target Actual Notes
2010 0 Milestones completed
201110 7 7 of 10 milestones have been completed and work has progressed
to year 2. Milestones 8, 9 and 10 are being completed by the CBI.
2012
2013
2014
2015
D2.3.1.1 h) Review and modify draft regulations based on input from CBI legal department and expert payment systems lawyers and CBI payments department
Is this a Custom "Project Specific" Indicator?
Intermediate Result No:
Program Element
USAID Long Term Objective
Precise Definition(s):
D2.3.1.1 b) Review similar regulations used in other countries
D2.3.1.1 a) Examine existing laws and regulations to identify problems, weaknesses and gaps
Expected Result Per Contract
Achievement of Phase I of the retail payment system
D2.3.1.1 c) Identify topics to put into law versus those which should be left open for CBI to regulate
D2.3.1.1 d) Identify technical standards that need to be mandated in regulations
D2.3.1.1 e) Develop recommendations for corrective action in consultation with CBI legal departmentD2.3.1.1 f) Examine current governance situation and advising on the form of a national payments council in interbank working groups for the future development of IPS
D2.3.1.1 g) Draft revised regulations as necessary
Direction of Change:
Since no work as commenced as of project start-up, baseline is 0.
Data Source:
Method of data acquisition:
Data Acquisition Freq & Reporting:
Estimated Cost of Data Acquisition:
Individual responsible for data collection:
Individual responsible for project reporting data:
Location of Data Storage:
Notes on baselines/Targets:
Actions Taken or Planned to address Data Limitations:
Date of Future Data Quality Assessments:
Procedures for Future Data Quality Assessments:
sequential progression to completion: D2.3.1.1a = step 1, D2.3.1.1j = Final step, result achieved
Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
Component 2 staff will collect evidential documentation as it becomes available and submit it to the M&E Department.
Program Objective
Date of Initial Data Quality Assessment:
Known Data Limitations and Significance (if any):
Indicator Title:
Unit of Measure:
Disaggregated by:
Rationale: This milestone indicator is useful to management in measuring progress toward achieving the expected result (IR 2.3) in clearly defined steps, including a timeline for completion.
Program Area
"F" indicator
D2.3.1.1. i) Arrange for translation of drafts into Arabic and agree with CBI legal department
D2.3.1.1. j) Review implementation and report to CBI
Type: Output/Outcome:
This is a milestone indicator. The 10 Workplan Milestones that will be tracked are specific tasks detailed in the project contract and approved work plan including the timeline for their completion. (milestone reference numbers coorespond to those in the Workplan: D2.3.1.1a-j). The tasks are as follows:
Outputnone
4 Economic Growth
4.3 Financial Sector4.3.2 Financial Sector CapacityImprove the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
A comprehensive retail payments system is operational and a solution for a National Switch model is proposed.
Milestones
Quarterly Collection / Quarterly Report
N/A
William R. Schultz
David Munro
Project and stakeholder documentation
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 2.3.1b
NO
YES
2.3
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)
TBD
none at this time
none at this time
TBD
TBD
OTHER NOTES:
Year Target Actual Notes
2010 0 number of Milestones for D2.3.2.1 (a-j) completed
2011
2012 10 All 10 milestones to be completed, IPS is operational
2013
2014
2015
2010 0 Number of Milestones for D2.3.2.2 (a-i) completed
2011
2012 9 All 9 milestones completed, a National Switch is being procured
2013
2014
2015
sequential progression to completion: D2.3.2.1a = step 1, D2.3.2.1j = Final step, result achieved; D2.3.2.2a = step 1, D2.3.2.2i = final step, result achieved.
h) Evaluate RFP responsesi) Assist in negotiations with supplier
Precise Definition(s):
a) Prepare detailed specification for national switch including agreed principles
Type: Output/Outcome: Outputnone
a) Develop recommendations towards an enhanced retail payments systems infrastructure for Iraqb) Identify feasible model for implementation of a National EFTPOS / ATM Switchc) Assess approaches for inclusion of mobile payments d) Develop budgets for the procurement of a National Switch and a National Mobile Paymentsystem
g) Agree and issue RFP
b) Prepare detailed requirements for national mobile
D2.3.2.2- Particpate in the Selction Process of a National Switch Provider
h) Review the Proposal for the EFTPOS/ ATM Switch and MPS implementation with the CBIi) Prepare report/ presentationsj) Deliver presentations to the members of IPS and facilitate discussion
d) Agree and issue RFI
milestone
c) Prepare RFI to pre-qualify supplier consortia
Program Area
4 Economic Growth
4.3 Financial Sector4.3.2 Financial Sector CapacityImprove the enabling environment for private financial sector expansion through capacity buildinglegal and regulatory reform
This milestone indicator is useful to management in measuring progress toward achieving the expected result (IR 2.3) in clearly defined steps, including a timeline for completion.
Project and stakeholder documentation
Program Element
USAID Long Term Objective
D2.3.2.1-Enhancements of the IPS infrastructure to Support Retail Banking
"F" indicator
Is this a Custom "Project Specific" Indicator?
Intermediate Result No:
Disaggregated by:
Rationale:
Drection of Change:
f) Evaluate models vs. Iraq needsg) Prepare outline proposal/priorities to implement
f) Evaluate RFI responses and select short liste) Prepare full RFP
e) Identify sources for funding of the Iraq Retail Infrastructure Enhancement program
Actions Taken or Planned to address Data Limitations:
Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
Component 2 staff will collect evidential documentation as it becomes available and submit it tothe M&E Department.
Quarterly Collection / Quarterly Report
N/A
William R. Schultz
David Munro
Individual responsible for project reporting data:
Location of Data Storage:
Estimated Cost of Data Acquisition:
Individual responsible for data collection:
Notes on baselines/Targets:
Date of Future Data Quality Assessments:
Procedures for Future Data Quality Assessments:
Program Objective
Date of Initial Data Quality Assessment:
Known Data Limitations and Significance (if any):
Indicator Title:
Unit of Measure:
Achievement of Phase II of the retail payment system
Expected Result Per ContractA comprehensive retail payments system is operational and a solution for a National Switchmodel is proposed.
This is a milestone indicator in two sections: D2.3.2.1-Enhancements of the IPS infrastructure to Support Retail Banking; and, D2.3.2.2- Particpate in the Selction Process of a National Switch Provider. The Workplan Milestones that will be tracked are specific tasks detailed in the project contract and approved work plan including the timeline for their completion. (milestone reference numbers coorespond to those in the Workplan: D2.3.2.1a-j and D2.3.2.2a-i). The tracked tasks are as follows:
Because no work as commenced at project Start-up, the baseline is 0.
Data Source:
Method of data acquisition:
Data Acquisition Freq & Reporting:
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 2.4.1
YES
NO
2.4
DESCRIPTION
IR2.4a(i)Draft Request for Information (RFI) to distribute to companies providing Core Banking Systems for Central banks to gather information regarding their systems, needed for inclusion in the RFP
IR2.4a(ii)Incorporate standard RFP sections already approved from review of the RPSI RFP
IR2.4a(iii) Issue RFI, and analyze the responses
IR2.4a(iv)Create IT assessment tool to determine current IT status at CBI main offices and branches, to obtain information to be included in the RFP
IR2.4a(v)Obtain approval from CBI to assign resources to perform the IT assessment, train the resources, and execute the assessment
IR2.4a(vi) Translation of the RFP (subject to timely translation service)
IR2.4a(vii)Submit the Arabic and English version of the RFP to the CBI to issue the solicitation.
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)
TBD
none at this time
none at this time
TBD
TBD
OTHER NOTES:
Year Target Actual Notes
2010 0
2011 0 0
2012 1-7 All seven milestones are expected to be achieved by Feb FY 2012
2013
2014
2015
4 Economic Growth
4.3 Financial Sector4.3.2 Financial Sector CapacityImprove the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
Expected Result Per Contract CBI has a complete Request for Proposals for CORE system that could be issued for bid
Is this a Custom "Project Specific" Indicator?
Intermediate Result No:
Program Element
USAID Long Term Objective
Direction of change: Higher = better, highest number is 7
Type: Output/Outcome:
The project prepares the RFP for the CORE Banking system and delivers it to the CBI in both English and Arabic translations. There are seven (7) fundamental steps/milestones to achieving this result:
Outputnone
Precise Definition(s):
An RFP for the CORE banking system is delivered to the CBI to carry out the solicitation
Milestone
Program Objective
Date of Initial Data Quality Assessment:
Known Data Limitations and Significance (if any):
Indicator Title:
Unit of Measure:
Disaggregated by:
Rationale:
Program Area
This milestone indicator is useful to management in measuring progress toward achieving the expected result (IR 2.4) in clearly defined steps, including a timeline for completion.
Project Records
Individual responsible for data collection:
Individual responsible for project reporting data:
Location of Data Storage:
"F" indicator
Data Source:
Method of data acquisition:
Data Acquisition Freq & Reporting:
Estimated Cost of Data Acquisition:
Notes on baselines/Targets:
Date of Future Data Quality Assessments:
Procedures for Future Data Quality Assessments:
Actions Taken or Planned to address Data Limitations:
Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
as of the date of the first modification to the project contract, no work has started on the milestones, therefore the baseline is zero. Targets are established by the approved workplan.
TBD
Quarterly
N/A
William R. Schultz
Gary Dinoia/TL Comp 3
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 2.5.1
NO
YES
2.4
DESCRIPTION
D2.5.3.a
Develop and Implement an "Education and Awareness" plan of the
new reporitng requirements within the reproting entities and CBI
Staff
D2.5.3.b
Develop and implement a knowledge transfer processes for CBI IT
staff to manage the Reporting framework (perform admin
functions, ad/edit/delete user/group roles, perform certain
support functions, etc.)
D2.5.3.c
Develop and implement a knowledge transfer processes for CBI IT
Banking staff to use the system, interpret the reporting contents
and make valid conclusions.
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)TBD
none at this time
none at this time
TBD
TBD
OTHER NOTES:
Year Target Actual Notes
2010 0 Milestone number reached on Phase 1 of the Data Repository
2011 4 All 4 Phase I milestones completed, Repository in place
2012
2013
2014
2015
Program Objective 4 Economic Growth
Program Area 4.3 Financial Sector
"F" indicator
Is this a Custom "Project Specific" Indicator?
Intermediate Result No:
Expected Result Per Contract
Program Element 4.3.1 Financial Sector Enabling Environment
USAID Long Term Objectivep g p p g p y
building, legal and regulatory reform
CBI has a complete Request for Proposals for CORE system that could be issued for bid
Unit of Measure: Milestone
Indicator Title: Phase I for the Data Repository System is completed
Precise Definition(s):
This is a milestone indicator. The 3 Primary Workplan Milestones that will be tracked are specific tasks detailed in the project contract and approved work plan including sub-tasks and the timeline for their completion. (milestone reference numbers coorespond to those in the Workplan: D2.5.3a-c.The tasks are as follows:
Direction of Change: higher = better, maximum number is 3
Rationale: This milestone indicator is useful to management in measuring progress toward achieving the expected result (IR 2.5) in clearly defined steps, including a timeline for completion.
Disaggregated by: none
Type: Output/Outcome: Output
Data Acquisition Freq & Reporting: Quarterly/Quarterly
Estimated Cost of Data Acquisition: N/A
Data Source: Project and stakeholder documentation
Method of data acquisition:Component 2 staff will collect evidential documentation as it becomes available and submit it to the M&E Department.
Date of Future Data Quality Assessments:
Procedures for Future Data Quality Assessments:
Notes on baselines/Targets: No work has commenced as of project start-up therefore the baseline is 0
Individual responsible for data collection: David Munro
Individual responsible for project reporting data: William R. Schultz
Location of Data Storage: Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
Date of Initial Data Quality Assessment:
Known Data Limitations and Significance (if any):
Actions Taken or Planned to address Data Limitations:
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 2.5.2
NO
YES
2.5
DESCRIPTION
D2.5.4.aDevelop and implement a rollout plan to deploy the solution to all
reporting entities
D2.5.4.bCreate and maintain a Help Desk function for all users until one
month after roll out is complete.
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)
TBD
none at this time
none at this time
TBD
TBD
OTHER NOTES:
Year Target Actual Notes
2010 0 Milestone numbers achieved
2011
2012 8All 8 Phase II milestones complete, Repository is Operational and CBI staff are trained to use the system
2013
2014
2015
Phase II for the Data Depository System is completed
Milestone
CBI staff is trained on the new Centralized Data Repository reporting requirements and can manage the system
This is a milestone indicator. The 2 Workplan Milestones that will be tracked are specific tasks detailed in the project contract and approved work plan including the timeline for their completion. (milestone reference numbers coorespond to those in the Workplan: D2.5.4a & b). The tasks are as follows:
Component 2 staff will collect evidential documentation as it becomes available and submit it to the M&E Department.
Quarterly Collection / Quarterly Report
N/A
William R. Schultz
David Munro
4 Economic Growth
4.3 Financial Sector4.3.1 Financial Sector Enabling EnvironmentImprove the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
Program Objective
Program AreaProgram Element
USAID Long Term Objective
Individual responsible for data collection:
Individual responsible for project reporting data:
Location of Data Storage:
Data Source:
Method of data acquisition:
Data Acquisition Freq & Reporting:
Estimated Cost of Data Acquisition:
Notes on baselines/Targets:
Date of Future Data Quality Assessments:
Procedures for Future Data Quality Assessments:
Actions Taken or Planned to address Data Limitations:
Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
No training has commenced as of project start-up therefore the baseline is 0
Date of Initial Data Quality Assessment:
Known Data Limitations and Significance (if any):
Project and stakeholder documentation
"F" indicator
Is this a Custom "Project Specific" Indicator?
Intermediate Result No:
Precise Definition(s):
Indicator Title:
Unit of Measure:
Disaggregated by:
Rationale: This milestone indicator is useful to management in measuring progress toward achieving the expected result (IR 2.5) in clearly defined steps, including a timeline for completion.
Direction of Change: sequential progression to completion: D2.5.1a = step 1, D2.5.1h = Final step, result achieved
Expected Result Per Contract
Type: Output/Outcome: Outputnone
USAID Iraq Financial Development Project
Performance Management Plan (PMP) List of Indicators Component 3
LTO1
LTO2
Program
Objective
Program
Area
Program
Elem
ent
Long Term
Objective
PMP IR
# Intermediate Result (from contract)
PMP
Indicator #
F Indicator
Indicator TitleUnit of
Measure Data Source
Frequency
of
Collection Baseline
Associated
Deliverable
Yr
1
Yr
2
Yr
3
Yr
4 Yr 5
5 Year
Total Cogn
izant
Project
Component
3.1.1 F
4.3.1‐6: Number of Financial Sector Training and/or
Certification Programs Established or supported that meet
International Standards
Number of
Programs
Project
RecordsAnnual 0
D312; D313;
D3140 0 0 0 2 2 3
3.1.2 F4.3.2‐1: Number of Financial Sector Professionals trained
on international standards this year with USG assistance.# professionals
Project
Records/
University
Records
Annual 0 D312 40 30 3 3 3 79 3
3.1.2a F Number of Men #MenUniversity
RecordsAnnual 0 D312 35 20 2 2 2 61 3
3.1.2b F Number of Women #womenUniversity
RecordsAnnual 0 D312 5 10 1 1 1 18 3
3.1.3Number of senior faculty fom Partner Colleges trained in
curriculum by regional/international Partner universities
Number of
senior faculty
Implementing
Partners,
project records
Quarterly 0 D312 0 30 0 0 0 30 3
3.1.4Number of Iraqi Colleges and Financial Institutions
surveyed for the GAPS Analysis
Project
RecordsQuarterly D311 11 0 0 0 0 11 3
3.1.4aNumber of Colleges of Economics and Administration
included in the Gaps Analysis
Number of
Colleges
Project
RecordsQuarterly 0 D311 8 0 0 0 0 8 3
3.1.4bNumber of financial institutions included in the Gaps
Analysis
Number of
banks
Project
RecordsQuarterly 0 D311 3 0 0 0 0 3 3
3.1.5Number of Deans/program administrators trained in
accreditation
Number of
deans/
administrators
Implementing
Partners,
project records
Quarterly 0 D312 40 0 0 0 0 40 3
3.1.6Number of Iraqi Colleges of Economics and Administration
accepted for membership for accreditation in AACSB
Number of
Colleges
Project
RecordsQuarterly 0 D314 0 2 2 2 2 8 3
3.2.1 Educators Association Financial Sustainabilitysustainability
ratio
Implementing
Partners,
project records
Quarterly 0 D322 0 0 0 50% 100% 100% 3
3.2.2
Number of finance and banking faculty members
participating in the association of Finance and banking
educators
Number of
members
Implementing
Partners,
project records
Quarterly 0 D322 0 0 0 200 0 200 3
3.2.2a Number of Men #Men
Implementing
Partners,
project records
Quarterly 0 D322 0 0 0 175 0 175 3
3.2.2b Number of Women #Women
Implementing
Partners,
project records
Quarterly 0 D322 0 0 0 25 0 25 3
3.2.3Overall Member Satisfaction of Educators Association
effectivenessRating Survey Quarterly 0 D322 3 3 4 4 4 4 1
3.2.4
Number of partnership agreements between Iraqi Partner
Colleges and Regional/international educational
institutions
Number of MOU
Signatory
Universities
Implementing
Partners,
project records
Quarterly 0 D321 1 1 0 0 0 2 3
4 4.3 4.3.2
TARGETS
LTO2 3.1
Two or more business schools/universities
offering business and finance degrees based on
international standards
LTO2 3.2
Sustainable mechanism in place for continuing
professional development, networking and
advocacy for business and finance education
USAID Long Term
Objectives (LTO):
Create jobs by strengthening the private financial sector’s ability to provide increased financial intermediation services
Improve the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
4 4.3
4.3.1
&
4.3.2
USAID Iraq Financial Development Project
Performance Management Plan (PMP) List of Indicators Component 3
LTO1
LTO2
Program
Objective
Program
Area
Program
Elem
ent
Long Term
Objective
PMP IR
# Intermediate Result (from contract)
PMP
Indicator #
F Indicator
Indicator TitleUnit of
Measure Data Source
Frequency
of
Collection Baseline
Associated
Deliverable
Yr
1
Yr
2
Yr
3
Yr
4 Yr 5
5 Year
Total Cogn
izant
Project
Component
TARGETS
USAID Long Term
Objectives (LTO):
Create jobs by strengthening the private financial sector’s ability to provide increased financial intermediation services
Improve the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
3.3.1
Sustainable Joint Council (Education/Private Banks)
established within the organizational structure of a private
bank industry association.
Milestones (see
PIRS)
Implementing
Partners,
training
records
Quarterly 0 D331; D332 0 0 0 0 0 0 3
3.3.2
Number of internships and scholarships to students from
the Partner Colleges Co‐funded by the private sector
(disaggregated by type of sponsorship, gender)
Number of Co‐
Funded
Scholarships
/Internships
Implementing
Partners,
training
records
Quarterly 0 D331; D332 0 4 4 6 6 20 3
3.3.2a Number of Men #Men
Implementing
Partners,
training
records
Quarterly 0 D331; D332 0 3 3 4 4 14 3
3.3.2b Number of Women #Women
Implementing
Partners,
training
records
Quarterly 0 D331; D332 0 1 1 2 2 6 3
3.3.3Number of Career Development Centers established at
Partner Colleges
Number of
centers
Implementing
Partners,
training
records
Quarterly 0 D331; D332 0 2 0 2 0 4 3
Sustainable mechanism in place for university
collaboration with private business and financial
organizations
4 4.3 4.3.2 LTO2 3.3
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 3.1.1
YESNO3.1
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)TBDnone at this timenone at this timeTBDTBD
OTHER NOTES:
Year Target Actual Notes2010 0 Baseline is 02011 02012 02013 02014 02015 2
Annual/Annual
Procedures for Future Data Quality Assessments:
Individual responsible for project reporting data: William R. Schultz
Notes on baselines/Targets: At project startup, no programs have been initiated therefore baseline is 0
Location of Data Storage: hard copy-Project File # TBD & USAID, Electronic: Project Server/OneSource, USAID
Date of Initial Data Quality Assessment:Known Data Limitations and Significance (if any):
Actions Taken or Planned to address Data Limitations:Date of Future Data Quality Assessments:
Individual responsible for data collection: Herb DavisN/A
Disaggregated by: N/A
Rationale:
Global interconnected growth is accelerating in all countries of the world. It is vital that entering financial sector professionals possess up to date knowlege of finance and banking from a program and recognized by providers as meeting internationally recognized standards. Entering finance professionals equipped with up to date knowledge of finance theory and practice increase confidence among investing and trading institutions, facilitate investment and increase the volume of financial transactions, increase access to finance amoung sub-sectors of the economy, increase confidence among investing and trading counterparts and spur innovation, among many other benefits.
Type: Output/Outcome OutputDirection of Change: Higher = better
Data Source: Project Records/University RecordsMethod of data acquisition: Project Component progress reports and supporting documents
Data Acquisition Freq & Reporting:
"F" indicatorIs this a Custom "Project Specific" Indicator?
Intermediate Result No.
Program Element
Estimated Cost of Data Acquisition:
Unit of Measure: Number of Programs
Two or more business schools/universities offering business and finance degrees based on international standards
Expected Result Per Contract
Indicator Title:4.3.1-6 Number of Financial Sector Training and/or Certification programs established or supported that meet international standards.
Prescise Definition(s):The number of training and certification programs that meet or embrace internationally recognized standards for upgrading and or expanding professional capacities for financial sector professionals
4.3.1 Financial Sector Enabling Environment
USAID Long Term ObjectiveImprove the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
Program Objective 4 Economic GrowthProgram Area 4.3 Financial Sector
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 3.1.2 a&b
YESNO3.1
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)TBDnone at this timenone at this timeTBDTBD
OTHER NOTES:
Year Target Actual Notes2010 0 baseline
2011 40 - 35 men / 5 Women 34 - 31 men / 3 womenActual attendance at AACSB Seminar held 3rd week of June 2011 for Higher Education Administrators and Finance/Business Educators.
2012 30 - 20 men / 10 Women2013 3 - 2 men / 1 Woman2014 3 - 2 men / 1 Woman2015 3 - 2 men / 1 Woman
Annual/Annual
Procedures for Future Data Quality Assessments:
Individual responsible for project reporting data: William R. Schultz
Notes on baselines/Targets: No Training programs have been established as of project start-up therefore baseline is 0
Location of Data Storage: hard copy-Project File # TBD & USAID, Electronic: Project Server/OneSource, USAID
Date of Initial Data Quality Assessment:Known Data Limitations and Significance (if any):
Actions Taken or Planned to address Data Limitations:Date of Future Data Quality Assessments:
Individual responsible for data collection: Herb Davisn/a
Disaggregated by: gender (3.1.2a men/3.1.2b women)
Rationale:
A typical bank lending officer in a developed market will have an MBA or accounting degree, followed by up to five years of mentoring by experienced senior lenders before she/he is qualifed to assume any significant lending authority. The iraqi education system does not provide a comparable base, and sendior lenders often do not themselves have the technical skills to teach. Other financial sector specialists require a similar extensive learning curve before they can be reliable practitioners. Degree programs that meet international standards can compensate for these gaps in skills development opportunites can substantially accelerate the rate at which a country can form the professionals needed to grow the financial sector.
Type: Output/Outcome OutputDirection of Change: higher = better
Data Source: Project data; Participating university recordMethod of data acquisition: record concurrent with acitivities
Data Acquisition Freq & Reporting:
"F" indicatorIs this a Custom "Project Specific" Indicator?
Intermediate Result No.
Program Element
Estimated Cost of Data Acquisition:
Unit of Measure: number of senior faculty and administrators
Two or more business schools/universities offering business and finance degrees based on international standards
Expected Result Per Contract
Indicator Title: 4.3.2-1 Number of Financial Sector Professionals trained on International Standards this year with USG assistance
Prescise Definition(s):
The number of financial sector professionals – accountants, actuaries, insurance and pension specialists, bankers and other individuals that manage financial institutions, manage risk or provide operating services to the financial market that have been trained as a result of USG training activities (excluding supervisory staff, which is measured separately.) This includes the number of Deans / administrators and senior faculty of selected Partner Colleges of Economics and Administration that successfully complete coursework to become TOT's in banking and finance.
4.3.2 Financial Sector Capacity
USAID Long Term Objective Improve the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
Program Objective 4 Economic GrowthProgram Area 4.3 Financial Sector
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 3.1.3
NOYES3.1
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)TBDnone at this timenone at this timeTBDTBD
OTHER NOTES:
Year Target Actual Notes2010 0 Baseline is 02011 02012 302013 02014 02015 0
Known Data Limitations and Significance (if any):Actions Taken or Planned to address Data Limitations:
Date of Future Data Quality Assessments:Procedures for Future Data Quality Assessments:
Notes on baselines/Targets: No Training programs have been established as of project start-up therefore baseline is 0
Date of Initial Data Quality Assessment:
Rationale: Decades of isolation has prevented Iraqi educators from keeping themselves updated on latest pedagogy and research in business and finance. An intensive workshop conducted by senior professors of international renown can give the Iraqi educators a shot in the arm sorely needed
Data Source: Project data; Participating university recordMethod of data acquisition: record concurrent with acitivities
Data Acquisition Freq & Reporting: Annual Aggregate / Annual/concurrent ReportingEstimated Cost of Data Acquisition: n/a
Individual responsible for data collection: Herb Davis
Type: Output/Outcome Output
hard copy-Project File # TBD & USAID, Electronic: Project Server/OneSource, USAID
"F" indicator
Direction of Change: higher = better
Indicator Title: Number of senior faculty from Partner Colleges trained in curriculum by regional/international Partner universities
Prescise Definition(s):
Individual responsible for project reporting data: William R. SchultzLocation of Data Storage:
Intermediate Result No.
The number of Deans / administrators and senior faculty of selected/Partner Colleges of Economics and Administration that will have particpated in the Curriculum Development workshops
Unit of Measure: number of senior faculty and administratorsDisaggregated by:
Expected Result Per Contract Two or more business schools/universities offering business and finance degrees based on international standards
none
Program Objective 4 Economic GrowthProgram Area 4.3 Financial Sector
Is this a Custom "Project Specific" Indicator?
Program Element 4.3.2 Financial Sector Capacity
USAID Long Term Objective Improve the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 3.1.4 a&b
NOYES3.1
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)TBDnone at this timenone at this timeJune 30, for LOPTBD
OTHER NOTES:
Year Target Actual Notes2010 0 baseline
2011 11 - 8 Universities / 3 Fin. Inst.31 - 8 universities / 21
banksSurvey Data is found with the GAPS analysis completed by component 3.
2012 02013 02014 02015 0
Known Data Limitations and Significance (if any):Actions Taken or Planned to address Data Limitations:
Date of Future Data Quality Assessments:Procedures for Future Data Quality Assessments:
Notes on baselines/Targets: No surveys have been completed as of project start-up therefore baseline is 0
Date of Initial Data Quality Assessment:
Rationale:
Decades of isolation has prevented Iraqi educators from keeping themselves updated on latest pedagogy and research in business and finance. The GAPS analysis is analogous to a thorough medical checkup before diagnosis of the problems and prescription of remedies. The GAPS analysis will help identify the precise nature of the mismatch between the requirements of the financial sector and the skills of the graduates produced by Iraqi Colleges of Economics and Administration
Data Source:
(1) Qualitative survey of faculty, students, and the overall program (2) semi-structured interviews with executives of financial institutions hiring graduates of theColleges; (3) exisiting data and reports on the state of education in Iraqi Colleges of Economics and Administration; (4) face to face interviews with stakeholders
Method of data acquisition: record concurrent with acitivitiesData Acquisition Freq & Reporting: Quarterly/Quarterly
Estimated Cost of Data Acquisition: N/AIndividual responsible for data collection: Herb Davis
Type: Output/Outcome Output
hard copy-Project File # TBD & USAID, Electronic: Project Server/OneSource, USAID
"F" indicator
Direction of Change: higher = better
Indicator Title: Number of Iraqi Colleges and Financial Institutions surveyed for the GAPS Analysis
Prescise Definition(s):
Individual responsible for project reporting data: William R. SchultzLocation of Data Storage:
Intermediate Result No.
Number of selected Colleges of Economics and Administration and the Number of selected financial institutions included in the Gaps Analysis conducted jointly by the Program and the Regional Consultant/Partner University
Unit of Measure: Number of Universities and Financial InstitutionsDisaggregated by:
Expected Result Per Contract Two or more business schools/universities offering business and finance degrees based on international standards
Universities (3.1.4a) and Financial Institutions (3.1.4b)
Program Objective 4 Economic GrowthProgram Area 4.3 Financial Sector
Is this a Custom "Project Specific" Indicator?
Program Element 4.3.2 Financial Sector Capacity
USAID Long Term Objective Improve the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 3.1.5, a & b
N0YES3.1
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)TBDnone at this timenone at this timeJune 30, for LOPTBD
OTHER NOTES:
Year Target Actual Notes2010 0 baseline2011 40 34 This number feeds into the F indicator of 3.1.4 a & b.2012 02013 02014 02015 0
Known Data Limitations and Significance (if any):Actions Taken or Planned to address Data Limitations:
Date of Future Data Quality Assessments:Procedures for Future Data Quality Assessments:
Notes on baselines/Targets: No Training programs have been established as of project start-up therefore baseline is 0
Date of Initial Data Quality Assessment:
Rationale:
Accreditation by an internationally recognized body ensures an independent confirmation of quality of the program. Hence, encouraging Iraqi Colleges of Economics and Administration to seek accreditation with ACCSB (the premier accrediation body in the world) and facilitating the process is an important part of the Program. However, accreditation by AACSB is a highly elaborate and long process requiring understanding of complex procedures and financial viability. Hence, the need for a full-fledged training workshop. The Component Lead was fortunate in making AACSB visit the region and offer a training workshop on accreditation in collaboration with a recently AASCB-accredited Partner University.
Data Source: Project data; Participating university recordMethod of data acquisition: record concurrent with acitivities
Data Acquisition Freq & Reporting: Quarterly/QuarterlyEstimated Cost of Data Acquisition: N/A
Individual responsible for data collection: Herb Davis
Type: Output/Outcome Output
hard copy-Project File # TBD & USAID, Electronic: Project Server/OneSource, USAID
"F" indicator
Direction of Change: higher = better
Indicator Title: Number of Deans/program administrators trained in accreditation
Prescise Definition(s):
Individual responsible for project reporting data: William R. SchultzLocation of Data Storage:
Intermediate Result No.
The number of Deans / administrators and senior faculty of selected/"Partner Colleges of Economics and Administration" particpating in the Accreditation workshop to be held in May 2011
Unit of Measure: number of senior faculty and administratorsDisaggregated by:
Expected Result Per Contract Two or more business schools/universities offering business and finance degrees based on international standards
gender (3.1.5a men/3.1.5b women)
Program Objective 4 Economic GrowthProgram Area 4.3 Financial Sector
Is this a Custom "Project Specific" Indicator?
Program Element 4.3.2 Financial Sector Capacity
USAID Long Term Objective Improve the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 3.1.6
NOYES3.1
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)TBDnone at this timenone at this timeJune 30, for LOPTBD
OTHER NOTES:
Year Target Actual Notes2010 0 baseline2011 02012 22013 22014 22015 2
Known Data Limitations and Significance (if any):Actions Taken or Planned to address Data Limitations:
Date of Future Data Quality Assessments:Procedures for Future Data Quality Assessments:
Notes on baselines/Targets: No Colleges have been accepted for AACSB accreditation as of project start, basline = 0
Date of Initial Data Quality Assessment:
Rationale:
The primary objective of the Third Component of the Program is to bring the quality of business and finance education up to international standards. Membership in the premier accreditation league not only creates awareness of specific benchmarks to be achieved by the member Colleges but also provides access to expert advice and periodic monitoring of the progress towards achieving that goal.
Data Source: Project component records; Participating university(ies)Method of data acquisition: record concurrent with acitivities
Data Acquisition Freq & Reporting: Quarterly/QuarterlyEstimated Cost of Data Acquisition: n/a
Individual responsible for data collection: Herb Davis
Type: Output/Outcome Output
hard copy-Project File # TBD & USAID, Electronic: Project Server/OneSource, USAID
"F" indicator
Direction of Change: higher = better
Indicator Title:Number of Iraqi Colleges of Economics and Administration accepted for membership for accreditation in AACSB
Prescise Definition(s):
Individual responsible for project reporting data: William R. SchultzLocation of Data Storage:
Intermediate Result No.
The number of Iraqi Colleges of Economics and Administration that applied and were accepted for membership by AACSB for future accreditation
Unit of Measure: Number of CollegesDisaggregated by:
Expected Result Per Contract Two or more business schools/universities offering business and finance degrees based on international standards
N/A
Program Objective 4 Economic GrowthProgram Area 4.3 Financial Sector
Is this a Custom "Project Specific" Indicator?
Program Element 4.3.2 Financial Sector Capacity
USAID Long Term Objective Improve the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 3.2.1
NOYES1.1
Expected Result Per ContractDESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)TBDnone at this timenone at this timeTBDTBD
OTHER NOTES:
Year Target Actual Notes2010 0% There are no associations receiving TA at project startup2011 0%2012 0%2013 0%2014 50%2015 100%
Procedures for Future Data Quality Assessments:
Notes on baselines/Targets: The Educators association does not exist at start-up, therefore baseline is 0
Date of Initial Data Quality Assessment:Known Data Limitations and Significance (if any):
Actions Taken or Planned to address Data Limitations:Date of Future Data Quality Assessments:
Individual responsible for project reporting data: William R. SchultzLocation of Data Storage: Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
Estimated Cost of Data Acquisition: N/AIndividual responsible for data collection: Herb Davis
Method of data acquisition: Program staff to review accounts and accounting policyData Acquisition Freq & Reporting: Annual Collection / Annual Report
Rationale:Financial sustainability indicates that the association will continue after donor Technical and financial assistance ends.
Data Source: Association Accounting records
Direction of Change: 100% or above indicates Financial Sustainability
Unit of Measure: Financial Sustainability RatioDisaggregated by: none
"F" indicatorIs this a Custom "Project Specific" Indicator?
Expected Result #
type: output/outcome Output
One or more industry associations that represents effectively the interests of the private financial
Indicator Title: Educators' Association Financial Sustainability
Precise Definition(s):
Financial sustainability is the degree to which an organization collects sufficient revenues from sale of its services to cover the full costs of its activities, evaluated on an opportunity-cost basis. Expressed as a percentage, financial sustainablity is calculated using the formula: (operational cost + financial costs) / gross revenue. Full financial sustainability is the situation in which the revenues an organization generates from its clients cover the full (opportunity) costs of its activities, thus allowing it to continue operating at a stable or growing scale without ongoing support from governments, donor agencies, or charitable organizations.
Program Element 4.3.1 Financial Sector Enabling EnvironmentLong Term Objective Improve the enabling environment for private financial sector expansion through capacity
Program Objective 4 Economic GrowthProgram Area 4.3 Financial Sector
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 3.2.2 a-b
NOYES
1.1
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)TBDnone at this timenone at this timeTBDTBD
OTHER NOTES:
Year Target Actual Notes2010 0 02011 0 2012 02013 02014 200: 175 men/25 women2015 0
Notes on baselines/Targets:No association exists at start up, therefore the baseline is 0. Targets are based on best estimates and will be adusted/modified to reflect realistic expectations.
Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
Date of Initial Data Quality Assessment:Known Data Limitations and Significance (if any):
Procedures for Future Data Quality Assessments:
Actions Taken or Planned to address Data Limitations:Date of Future Data Quality Assessments:
Location of Data Storage:Individual responsible for project reporting data: William R. Schultz
Data Source: Association membership recordsMethod of data acquisition: Direct Project review of membership records
Data Acquisition Freq & Reporting: Quarterly/QuarterlyEstimated Cost of Data Acquisition: N/A
type: output/outcome: OutputDirection of Change: Higher = Better
Individual responsible for data collection: Herb Davis
Program Objective 4 Economic GrowthProgram Area 4.3 Financial Sector
Rationale:The number of paid members (corporate, branches, affiliates) of the association are the primary indicator of member involvement.
Unit of Measure: Total # of members, #men, #women
One or more industry associations that represents effectively the interests of the private financial sector and is self-sustainable, as measured by financial sustainability and member
Expected Result Per Contract
Indicator Title:Number of finance and banking faculty members participating in the association of Finance and banking educators
Precise Definition(s):Total membership of the association includes all legal entities and individual persons who have paid membership dues or other fees, disaggregated by Gender (1.1.3 a & b).
Disaggregated by: Gender
"F" indicatorIs this a Custom "Project Specific" Indicator?
Expected Result #
Program Element 4.3.1 Financial Sector Enabling Environment
Long Term Objective Improve the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 3.2.3
NOYES
1.1
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)TBDnone at this timenone at this timeTBDTBD
OTHER NOTES:
Year Target Actual Notes2010 0 No Association exists at start-up, hence baseline = 02011 22012 32013 42014 42015 4
Expected Result Per Contract One or more industry associations that represents effectively the interests of the private financial
Program Objective 4 Economic GrowthProgram Area 4.3 Financial Sector
Program Element 4.3.1 Financial Sector Enabling EnvironmentLong Term Objective Improve the enabling environment for private financial sector expansion through capacity
"F" indicatorIs this a Custom "Project Specific" Indicator?
Expected Result #
Indicator Title: Overall Member Satisfaction of Educators Association effectiveness
Precise Definition(s):Member satisfaction is the extent the members are satisfied with the association's work in terms of services and results as measured by a rating scale of 0-5, 5 = 100% satisfied.
Unit of Measure: Avg RatingDisaggregated by: none
type: output/outcome: OutputDirection of Change: Higher = Better
Rationale:Member satisfaction as measured by opinion surveys indicate to the extent that the association is achieving its purpose as well as meeting the needs of its membership.
Data Source: satisfaction surveysMethod of data acquisition: satisfaction survey
Data Acquisition Freq & Reporting: Surveys will taken and results reported AnnuallyEstimated Cost of Data Acquisition: N/A
Individual responsible for data collection: Herb Davis
Notes on baselines/Targets:
No association exists at start up, therefore the baseline is 0. Targets are based on best estimates and will be adusted/modified to reflect realistic expectations. However, it is unrealistic to expect an average satistfaction of 100% because discontent is present in all organizations, anywhere in the world.
Date of Initial Data Quality Assessment:Known Data Limitations and Significance (if any):
Actions Taken or Planned to address Data Limitations:Date of Future Data Quality Assessments:
Individual responsible for project reporting data: William R. SchultzLocation of Data Storage: Hard Copy: Project Files/USAID; Elect: Project Server/OneSource
Procedures for Future Data Quality Assessments:
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 3.2.4
NOYES3.3
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)TBDnone at this timenone at this timeJune 30, for LOPTBD
OTHER NOTES:
Year Target Actual Notes2010 0 Baseline is 0
2011 2 2See data in grant file for partnership activities between regional universities and Iraq Universities/colleges.
2012 12013 02014 02015 0
Notes on baselines/Targets: No partnerships exist as of project start therefore baseline = 0
Individual responsible for data collection: Herb DavisIndividual responsible for project reporting data: William R. Schultz
Location of Data Storage: hard copy-Project File # TBD & USAID, Electronic: Project Server/OneSource, USAID
Date of Initial Data Quality Assessment:Known Data Limitations and Significance (if any):
Actions Taken or Planned to address Data Limitations:Date of Future Data Quality Assessments:
Procedures for Future Data Quality Assessments:
Method of data acquisition: record concurrent with acitivitiesData Acquisition Freq & Reporting: Quarterly/Quarterly
Estimated Cost of Data Acquisition: n/a
Prescise Definition(s):
Two to four selected Iraqi Colleges of Economics and Administration sign long term Program sponsored academic partnership agreements with selected AACSB-accredited Regional/International Partner Universities. This will be measured by the number of MOUs/Agreements and the number of Scholars and Post Doctorate/Research Fellows at Iraqi Universities.
Unit of Measure: Number of Signatory Universities to an MOU
Number of partnerships agreements between Iraqi Partner Colleges and Regional/international educational institutions (disaggregated by Colleges)
Indicator Title:
Data Source: Project and university data
Disaggregated by:3.2.2. MOUS/Agreements between Iraqi Colleges/Univ and Regional Eduational instuttions
type: output/outcome: OutputDirection of Change: Higher = Better
Rationale:
To bring the quality of finance and banking education in Iraq up to the international standards, AACSB-accredited regional partners can lead the way as they themselves had to go through a rigorous process of review and quality control. This is analogous to mentoring for someone interested in self-improvement.
Sustainable mechanism in place for continuing professional development, networking and advocacy for business and finance education
Expected Result Per Contract
Intermediate Result No.
Program Element
Program Objective 4 Economic GrowthProgram Area 4.3 Financial Sector
USAID Long Term Objective Improve the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
"F" indicatorIs this a Custom "Project Specific" Indicator?
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 3.3.1
NOYES2.2
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)TBDnone at this timenone at this timeTBDTBD
OTHER NOTES:
Year Target Actual Notes2010 0 No work has commenced at start-up, baseline is 02011 Milestones 1-4 All milestones will be completed in Yr 12012201320142015
Procedures for Future Data Quality Assessments:
Notes on baselines/Targets: As of project startup no work has been initiated so baseline is 0
Date of Initial Data Quality Assessment:Known Data Limitations and Significance (if any):
Actions Taken or Planned to address Data Limitations:Date of Future Data Quality Assessments:
Individual responsible for project reporting data: William R. SchultzLocation of Data Storage: Hardcopy, Project Files & USAID; Electronic: Project Servers/OneSource
Estimated Cost of Data Acquisition: N/AIndividual responsible for data collection: Dr. Herb Davis
Method of data acquisition: Component 3 staff will collect evidential documentation as it becomes available and submit it to the M&E Department.
Data Acquisition Freq & Reporting: Quarterly Collection / Quarterly Report
Rationale:Using milestones for establishing this advisory body is the best logical means to monitor the process that leads to a legitimate and sustainable body aimed at further professional development, a network of practioners and advocacy for finance and banking education in Iraq.
Data Source: Financial Records of the Career Development Centers
Type: Output/Outcome: OutputDirection of Change: Higher = Better
Unit of Measure: MilestonesDisaggregated by: none
Indicator Title:Sustainable Joint Council (Education/Private Banks) established within the organizational structure of a private bank industry association.
This indicator is a series of milestones to measure the process/progress of establishing a sustainable Joint Council of educators and leaders of private banks under the organizational structure of an Banking Industry Association. The four steps/milestones to be monitored are as follows:
Precise Description:
1: Education/University Partners are Identified
2: Three Parter Unversities become MOU signatories to establish a joint council of educators and Private Bank leaders appointed by a Private Bank Industry Association.
3: Private Bank Industry Association appoints representatives to the Joint Council
4: The Private Bank Industry Association establishes the Joint Council as its strategic educational advisory committee within its organizational structure, thereby insuring the Joint Council's legitamcy and sustainability.
Is this a Custom "Project Specific" Indicator?Intermediate Result No:
Expected Result Per Contract
Program Element 4.3.1 Financial Sector Enabling Environment
USAID Long Term Objective Improve the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
A sustainable organization/partnership for providing financial sector training and professional development is established
Program Objective 4 Economic GrowthProgram Area 4.3 Financial Sector
"F" indicator
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 3.3.2 a&b
NOYES3.3
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)TBDnone at this timenone at this timeTBDTBD
OTHER NOTES:
Year Target Actual Notes2010 0 At project Startup, no agreements are in process2011 02012 4 - 3 men / 1 woman2013 4 - 3 men / 1 woman2014 6 - 4 men / 2 women2015 6 - 4 men / 2 women
Notes on baselines/Targets: No Activites have started as of project startup, Baseline is 0
Individual responsible for data collection: Herb DavisIndividual responsible for project reporting data: William R. Schultz
Location of Data Storage: hard copy-Project File # TBD & USAID, Electronic: Project Server/OneSource, USAID
Date of Initial Data Quality Assessment:Known Data Limitations and Significance (if any):
Procedures for Future Data Quality Assessments:
Actions Taken or Planned to address Data Limitations:Date of Future Data Quality Assessments:
Method of data acquisition: record concurrent with acitivitiesData Acquisition Freq & Reporting: Quarterly/Quarterly
Estimated Cost of Data Acquisition: n/a
Project data; Participating university records
Disaggregated by: Gender (3.3.1a men/3.3.1b women)type: output/outcome: Output
Direction of Change: higher = better
Rationale:If the private fiancial sector desires the finance and banking education to be responsive to its changing needs, specialization specific scholarships and internships offer appropriate incentives to channel resources in the desired direction.
"F" indicatorIs this a Custom "Project Specific" Indicator?
Intermediate Result No.
Program Element
Data Source:
Unit of Measure: Number of partnership/cooperation agreements
Sustainable mechanism in place for university collaboration with private business and financial organizations
Expected Result Per Contract
Indicator Title: Number of internships and scholarships to students from the Partner Colleges Co-funded by the private sector (disaggregated by type of sponsorship, gender)
Prescise Definition(s):The financial sector matches Program funding in support of a number of internships and scholarships to students from the Partner Colleges (disaggregated by type of sponsorship, gender)
4.3.2 Financial Sector Capacity
USAID Long Term Objective Improve the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
Program Objective 4 Economic GrowthProgram Area 4.3 Financial Sector
Performance Indicator Reference Sheet (PIRS)
Performance Indicator # 3.3.3
NOYES3.3
DESCRIPTION
PLAN FOR DATA ACQUISITION
DATA QUALITY ISSUES (if used in USAID Annual Report)TBDnone at this timenone at this timeJune 30, for LOPTBD
OTHER NOTES:
Year Target Actual Notes2010 0 Baseline2011 02012 22013 02014 22015 0
Notes on baselines/Targets: at startup, no career centers have been established by program activities
Individual responsible for data collection: Herb DavisIndividual responsible for project reporting data: William R. Schultz
Location of Data Storage: hard copy-Project File # TBD & USAID, Electronic: Project Server/OneSource, USAID
Date of Initial Data Quality Assessment:Known Data Limitations and Significance (if any):
Procedures for Future Data Quality Assessments:
Actions Taken or Planned to address Data Limitations:Date of Future Data Quality Assessments:
Method of data acquisition: concurrent with the activiityData Acquisition Freq & Reporting: Quarterly/Quarterly
Estimated Cost of Data Acquisition: N/A
Project and university recrods
Disaggregated by: CollegeType: output/outcome: Output
Direction of change: Higher = Better
Rationale:
Career Development Centers are designed to offer career counselling to both incoming and outgoing students; these perform an important service in educating students about the changing conditions in the labor market and to tailor their subject choices to the requirements of the fast changing financial sector. The Strategic Advisory Councils consisting of senior executives of the financial institutions would play an important role in resourcing the centers.
"F" indicatorIs this a Custom "Project Specific" Indicator?
Intermediate Result No.
Program Element
Data Source:
Unit of Measure: Number of centers
Sustainable mechanism in place for university collaboration with private business and financial organizations
Expected Result Per Contract
Indicator Title: Number of Career Development Centers established at Partner Colleges
Prescise Definition(s): Number of Career Development Centers established at Partner Colleges and will offer career counselling to entering students and prospective graduates
4.3.2 Financial Sector Capacity
USAID Long Term Objective Improve the enabling environment for private financial sector expansion through capacity building, legal and regulatory reform
Program Objective 4 Economic GrowthProgram Area 4.3 Financial Sector
USAID/Fin
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