Haitian banking sector review, funded by the IDB, to formulate a restructuring strategy.
MBI’s team performed a diagnostic assessment of the Banque Nationale de Credit (BNC) past performance and existing capabilities. At the time of the project, BNC played something of a dual role in the Haitian banking sector, acting much like a Central Bank in certain capacities while also providing traditional commercial bank services. Based upon results of the assessment, MBI developed a detailed proposal recommending assistance and further training for the BNC’s staff, strengthening internal supervisory procedures, and implementing more stringent money-laundering and anti-corruption efforts.
These latter recommendations applied to the banking sector as a whole. MBI’s proposal encouraged the Government to bolster the overall regulatory framework as a way to stabilize the banking system and make it more resilient. In addition, reflecting the lack of sufficiently accessible credit through the banking sector, MBI recommended exploring microfinance and other social financing mechanisms as a potential solution to expanding credit facilities to the broader economy.