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.
[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.
[8] The programme offers a support mechanism through which they can exchange ideas, share their own countries’ challenges and give each other practical assistance.
[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.
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.