Monthly Update
November 3, 2017
Moldova: Communicating During a Financial Crisis

In 2014, Moldova experienced a banking crisis that resulted in a loss of $1 billion (12% of GDP) and undermined public confidence in the financial sector. During the crisis, the National Bank of Moldova (NBM) had difficulty communicating with the public to help explain the steps it was taking to resolve the crisis.

FSVC is helping the NBM to address this issue, as part of its Moldova program, funded by the U.S. Agency for International Development (USAID) and administered by the Volunteers for Economic Growth Alliance (VEGA). Specifically, FSVC is assisting the NBM in developing a communications roadmap for dealing with potential future crises.

In October, FSVC sent two volunteer experts to Chisinau to train the NBM communications staff in implementing an effective crisis communications strategy. The volunteer experts discussed developing a media protocol, drafting testimonials and messaging, spokespeople preparation, message testing, media approach and public rapid response. The volunteer experts presented a simulated crisis and provided immediate feedback on the staff's approach and response.

As a result, the NBM is better prepared to communicate to the public in the event of a future crisis. This responsiveness is critical to maintaining public confidence in the financial sector and preventing destabilizing public actions, such as bank runs.
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FSVC to Speak at ACAMS Conference in Dubai
FSVC Jordan Country Director Danyelle Gerges will participate in a panel discussion regarding alternative remittance systems at the upcoming conference of the Association of Certified Anti-Money Laundering (AML) Specialists in Dubai on November 12-13, 2017. The conference will convene top experts and certified AML specialists to discuss the most pressing issues and trends in financial crimes facing the Middle East and North Africa (MENA) region. For more information about the conference, including registration information, please click here.
Jordan: Designing Financial Crimes Courses for Judges

A major component of any successful anti-money laundering/combating the financing of terrorism (AML/CFT) framework is the successful prosecution and conviction of AML/CFT cases. Unfortunately, in many countries, including Jordan, judges and prosecutors lack the knowledge and skills needed to try financial crimes cases.

On October 22-25, FSVC sent 3 volunteer experts to Amman to deliver a course they had designed on financial crimes for judges and prosecutors, and train the trainers who will be delivering the course. The FSVC volunteer experts shared real case studies and led discussions on analysis, chasing leads, collecting evidence and managing documentation to successfully prosecute a terrorist financing (TF) case.  

This FSVC course will be added as a curriculum requirement for all graduating judges and prosecutors for the Judicial Institute of Jordan (JIJ). This will ensure the judiciary has at least a basic understanding of how to prosecute financial crimes throughout their career. FSVC handed over the final course materials and syllabus to the JIJ which will assign two permanent trainers from this training to deliver the course in the future, ensuring long-term sustainability. 
Launch of FSVC Morocco Program Featured in Moroccan World News

FSVC's new program to strengthen promising mid-sized Moroccan companies was featured in a recent news article by Moroccan World News. Working with local partner LixCap, FSVC will assist local institutions such as venture capital funds, incubators, accelerators, and entrepreneurship networks to better provide venture financing to high growth-potential firms. Click here to read the article.
About Us
The Financial Services Volunteer Corps (FSVC) is a not-for-profit organization that helps strengthen financial sectors in developing and emerging market countries. It does so with the ultimate aim of promoting job creation, economic growth and a better quality of life. FSVC structures practical, results-oriented technical assistance and training missions staffed by senior financial sector professionals who serve as unpaid volunteer experts. Over the past 27 years, more than 9,500 volunteer experts from the international financial, legal and regulatory communities have taken part in 3,000 missions, helping millions of people in 65 countries.