Norway Registers Development AS signed an agreement with the Bank of the Republic of Burundi (BRB) for the implementation of COBIT 5 framework for the governance and management of enterprise IT.

"The Bank of the Republic of Burundi has made great progress in establishing technological capacity to build transparent financial system and develop modern, fast and safe electronic banking services for businesses and residents. Implementation of COBIT 5 framework, recognised by central banks and other organisations around the world, will help BRB to apply the technology more effectively and boost its operational excellence, improving the services to other financial organisations and benefiting the whole economy. In addition, strict regulatory compliance and ICT risk management in the Central Bank is crucial for building trust in the financial market of Burundi, attracting foreign investment and ensuring economic growth", said Mr Rimantas Zylius, Managing Director of Norway Registers Development AS.

Development of Burundi economy requires world class financial services - modern, innovative, integrated to the world's financial networks, cost efficient. The BRB plays a key role in supporting this evolution, as well as ensuring stability and sustainability of the financial market. These goals are achievable by well-developed long term policies and leveraging the potential of ICT. As ICT stands at the heart of BRB, the organisation is actively modernizing its ICT infrastructure and core systems. The management recognizes that highly complex IT systems and infrastructures need to be properly aligned with BRB goals and strategies so that they serve as a permanent innovation driver rather than just adding to the cost of operations.

During the assignment, NRD consultants will review ICT service delivery, governance and management structure and processes. Also, based on COBIT 5 key principles, they will design and implement overarching end-to-end governance of enterprise ICT framework and its underlying processes and structures for the Bank of the Republic of Burundi. NRD will assess the current capability level based on ISO/IEC 15504, establish a roadmap for achieving Capability Level 4 and conduct trainings for the BRB staff.

NRD group and cyber security competence centre experts are contributors to COBIT 5 framework.

Norway Registers Development AS implemented the project as a lead partner in joint venture with NRD CS, BAIP and Norway Registers Development East Africa Ltd.