(a) facilitating effective application of international regulatory and supervisory standards in order to promote and maintain the soundness of banks in the Region; (b) harmonise banking regulatory and supervisory matters through the implementation of the objectives mentioned below; HEREBY AGREE as follows: ARTICLE 1 DEFINITIONS 1. In this Annex, terms and expressions defined in Article 1 of the Annex shall bear the same meaning unless the context otherwise requires. 2. In this Annex, unless the context otherwise requires: "Banks" means deposit taking institutions that are licensed and/or regulated and supervised by the Central Bank and/or other supervisory authority; "BIS" means Bank for International Settlements; "IMF" means International Monetary Fund; "FATF" means Financial Action Task Force; "SADC Central means Central Banks of State Parties. Banks" ARTICLE 2 OBJECTIVE 1. The objective of this Annex is to establish a framework for co operation and co-ordination between SADC Central Banks on banking regulatory and supervisory matters in order to: 76