Small Countries Financial Management Centre

Short description: Non-profit organisation

The Small Countries Financial Management Centre is a charity [1] which was established in June 2009. It is, in effect, a "micro multilateral" body whose purpose is to help to contribute to the growth and prosperity of small states through capacity building in the government financial sector.[2]

The countries involved (mainly those with a population of under 1.5 million) are:[3][4]

Antigua and Barbuda, Barbados, Belize, Bhutan, Botswana, Cook Islands, Dominica, Fiji, The Gambia, Grenada, Jamaica, Kiribati, Lesotho, Maldives, Marshall Islands, Mauritius, Montenegro, Namibia, St Kitts and Nevis, St Vincent and the Grenadines, Saint Lucia, Seychelles, Timor-Leste, Tonga, Papua New Guinea, Samoa, Solomon Islands, Swaziland, Vanuatu.

The Centre is located at the Isle of Man International Business School. Its Executive Director [5] is a former World Bank Chief Spokesman Tim Cullen MBE.[6] Cullen, a Commissioner on the Isle of Man Financial Supervision Commission [7] and an Associate Fellow at Oxford University's Said Business School[6] was instrumental in creating the Centre’s Small Countries Financial Management Programme (SCFMP), an initiative which brings together officials from an extremely diverse range of small countries. Participants come from finance ministries, central banks and regulatory bodies.[8] The programme offers a support mechanism through which they can exchange ideas, share their own countries’ challenges and give each other practical assistance. The acquisition of negotiation skills is a priority, and participants learn from leading practitioners and professors.[9]

Partners of the Centre include the Isle of Man Government,[10] the World Bank[11] the Commonwealth Secretariat, and the Small States Network for Economic Development.[12] Initial funding was provided by the Isle of Man Government.

The Centre’s inaugural nine-day programme, designed and directed by Ron Emerson[13] took place in September 2009 at both the Isle of Man International Business School and Oxford University,[14] and continues,[15] covering key issues such as risk assessment, management and regulation, debt and cash management, and regulatory collaboration.[16] The 2011 Programme was held in the Isle of Man and at St Catherine's College, Oxford and was directed by Alison McQuater.

## References

1. ↑ Isle of Man Government Index of Registered Charities http://www.gov.im/registries/courts/charities/index.xml Accessed 25 April 2011
2. ↑ 9 July 2010 IFC (International Finance Centre) - Initiative is helping development of small countries http://www.ifcfeed.com/isle-of-man-articles/Initiative-is-helping-development-of-small-countries.aspx Accessed 20 April 2011
3. ↑ October 2010 Paul Melly – Developing Leaders magazine - Big Issues for Small Countries Issue 2
4. ↑ 16 August 2009 All Business - John C Bersia – Small Countries Need a Helping Hand http://www.allbusiness.com/crime-law-enforcement-corrections/human-rights/12637343-1.html
5. ↑ 9 July 2010 IFC (International Finance Centre) - Initiative is helping development of small countries http://www.ifcfeed.com/isle-of-man-articles/Initiative-is-helping-development-of-small-countries.aspx Accessed 20 April 2011
6. ↑ 6.0 6.1 "Tim Cullen, Esq" (in en). http://www.debretts.com/people/biographies/browse/c/13177/Timothy William Brian (Tim) CULLEN.aspx.
7. ↑ 2001 Isle of Man Government - New Financial Supervision Commission Board announced - http://www.gov.im/infocentre/archived_releases/PR_fsc_01/newBoard.html Accessed 20 April 2011
8. ↑ 9 July 2010 Isle of Man News www.iomguide.com/news/general-news.php?story=105966 Accessed 25 April 2011
9. ↑ Isle of Man Treasury – The Small Countries Financial Management "Small Countries Financial Management Centre - Isle of Man Treasury Department Website". Archived from the original on 8 June 2011. https://web.archive.org/web/20110608025332/http://www.gov.im/treasury/scfmc/. Retrieved 2011-06-16. Accessed 19 April 2011
10. ↑ 14 October 2008 IOM News article Treasury Minister Meets Financial Leaders in Washington "Treasury Minister Meets Financial Leaders in Washington – Announces Plan to Help Developing Small States - Isle of Man Public Services -". Archived from the original on 9 October 2012. https://web.archive.org/web/20121009061830/http://www.gov.im/lib/news/cso/treasuryminister.xml. Retrieved 2011-06-16. Accessed 20 April 2011
11. ↑ 11 July 2010 IOM Gov website – Press Release from the Chief Secretary’s Office http://www.gov.im/cso/viewnews.gov?page=lib/news/cso/initiativeishelp.xml
12. ↑ 11 July 2010 IOM Gov website – Press Release from the Chief Secretary’s Office http://www.gov.im/cso/viewnews.gov?page=lib/news/cso/initiativeishelp.xml
13. ↑ 27 August 2009 Isle of Man News Initiative will help small countries respond to financial crisis http://www.iomguide.com/news/general-news.php?story=104779 Accessed 20 April 2011
14. ↑ 11 July 2010 BBC News Isle of Man https://www.bbc.co.uk/news/10590440
15. ↑ 18 October 2010 Manx Radio - Island earns recognition at ‘highest level’ [1]
16. ↑ World Bank Projects and Operations - http://web.worldbank.org/WBSITE/EXTERNAL/PROJECTS/0,,contentMDK:22284517~pagePK:41367~piPK:51533~theSitePK:40941,00.html Accessed 20 April 2011

## External links

* Official Site [2]
* Isle of Man Financial Supervision Commission [3]
* Organisation for Economic Co-operation and Development (OECD) [4]
* Small States Network for Economic Development [5]
* World Bank [6]

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