Improving the Quality of Financial Intermediation in the Gulf Cooperation Council Countries

This engagement note provides a snapshot of financial development in the countries of the GulfCooperation Council (GCC), Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE), and identifies key areas of the financial sector reform agenda where the World Bank Group (WBG) through the Finance Markets Global Practice (FMGP) can provide its support, in particular through the provision of analytical services and advisory (ASA). A key challenge for GCC countries is to diversify their economic structures, increase the role of the private sector, improve the efficiency of the government and reform the educational system and the labor market. This is essential to create employment opportunities for a young and growing domestic population. In this context, the development of an efficient, stable and inclusive financial sector is a policy objective in itself and a necessary conduit to a more diversified and productive economic system. Against this backdrop, this engagement note suggests that improving the quality of financial intermediation in GCC economies is a balancing act between enhancing access and preserving stability. Accordingly, it detects and discusses several areas of engagement for WBG which are consistent with the financial sector reform agenda of the region. In particular, based on the expertise and delivery capacity of WBG, particularly of FMGP, this engagement note suggests that WBG target ASA in the following areas: (i) financial infrastructure, particularly insolvency regimes, creditor rights and payment and settlement systems; (ii) banking competition; (iii) government debt capital market development, including sukuk; (iv) credit guarantee schemes for SMEs; and (v) macro prudential supervision.

Detalles Bibliográficos

Autor principal:	World Bank Group
Formato:	Report biblioteca
Idioma:	English en_US
Publicado:	Washington, DC 2015-06
Materias:	CREDIT MARKETS, CREDIT DEFAULTS, CAPITAL MARKETS, DEPOSIT, REGULATORY FRAMEWORK, MARKET COUNTRIES, BORROWER, NPL, CHECKS, ACCOUNTING, TRANSACTIONS SYSTEM, DEPOSITS, PAYMENT SERVICE, LIQUIDATION, MOVABLE ASSETS, DEFAULTS, STOCK, INSTITUTIONAL INVESTORS, CREDIT PROVISION, GUARANTEES, LONG-TERM FINANCE, DEBT SECURITIES MARKETS, PENSION SYSTEMS, GOVERNMENT SPENDING, PRIVATE CREDIT, STOCK MARKET, LIQUIDITY, BANKING SYSTEMS, REVENUES, SECURITIES TRANSACTIONS, LONG-TERM RESOURCES, BONDS, CAPITAL ADEQUACY, FINANCIAL STRESS, MARKET INSTRUMENTS, LOAN, CAPACITY BUILDING, TAX, STOCK MARKET CAPITALIZATION, NON-PERFORMING LOANS, BENCHMARK YIELD, MARKET INFRASTRUCTURE, ISLAMIC FINANCE, INVESTOR BASE, LACK OF COMPETITION, PENSION, CREDITOR, DEBT CAPITAL, INSTRUMENTS, BOOM-BUST CYCLE, ISLAMIC FINANCIAL INDUSTRY, CENTRAL BANK, EMERGING MARKET COUNTRIES, LABOR MARKET, SUKUK, OIL PRICES, FINANCIAL SUSTAINABILITY, INVESTMENT BEHAVIOR, DERIVATIVES, MOVABLE PROPERTY, COMMERCIAL CODES, SETTLEMENT SYSTEMS, MARKET DEVELOPMENT, POLICY RESPONSES, BANK ASSETS, BOND ISSUANCE, CORPORATE BOND MARKET, MONETARY FUND, INVESTMENT FUNDS, EMERGING MARKET, DOMESTIC BANKS, FINANCIAL INSTITUTIONS, MARKETS, DEBT, CAPITAL MARKET, DISTRESSED DEBT, SETTLEMENT, CREDITOR RIGHTS, ISLAMIC FINANCIAL SYSTEM, DOMESTIC DEBT, ENTRY BARRIERS, LOANS, BANKING SECTORS, DEBT SERVICE, BANK INTERMEDIATION, FINANCIAL SYSTEM, LEGAL FRAMEWORK, FINANCE, DOMESTIC BANK, BANKING SECTOR, JUDICIAL SYSTEM, GOVERNMENT SECURITIES, TRANSACTIONS, DEBT FINANCING, EMERGING MARKETS, EQUITY, SECURITIES MARKETS, INVESTORS, BENCHMARK YIELD CURVES, YIELD CURVES, FINANCIAL STABILITY, PRIVATE SECTOR CREDIT, MARKET CAPITALIZATION, FINANCIAL CRISIS, ISLAMIC BANKS, SECONDARY MARKETS, TAX REGIMES, ISLAMIC BANKING, DOMESTIC BANKING, INVESTMENT ASSETS, BOND MARKET, CAPITALIZATION, ASSET QUALITY, DEBT SECURITIES, PROPERTY, ISSUANCE, AMOUNT OF CREDIT, FOREIGN BANKS, SECURITY INTERESTS, INSTITUTIONAL CAPACITY, CORPORATE INVESTMENT, MARKET, POLITICAL UNCERTAINTY, CREDIT GUARANTEE, CONVENTIONAL FINANCE, SECURITIES, FINANCIAL INFRASTRUCTURE, CONTRACTUAL SAVINGS, CREDIT RISK, INSURANCE, GOVERNMENT DEBT, DEBT MARKETS, ECONOMIC DEVELOPMENT, INTERESTS, DEBT MARKET, BANKING ASSETS, CAPITAL MARKET DEVELOPMENT, INVESTOR, GOVERNMENT OWNERSHIP, SECURITY, INTERNATIONAL HARMONIZATION, FINANCIAL DEVELOPMENT, INVESTMENT, CREDIT GUARANTEES, BOND, DOMESTIC EQUITY, SHARE, CORPORATE BOND, POVERTY, FINANCIAL MARKETS, FINANCIAL ASSETS, MONEY MARKET, TRANSACTIONS LAW, DEBT MARKET DEVELOPMENT, BANKING MARKETS, FINANCIAL STRUCTURE, INVESTMENTS, RISK MANAGEMENT, LENDING, CREDIT GROWTH, PRODUCTIVE INVESTMENT, BANKING SECTOR ASSETS, MATURITIES, REMITTANCES, SECONDARY MARKET, FINANCIAL SYSTEMS, PAYMENT SYSTEMS, DELIVERY OF CREDIT, INTERNATIONAL SETTLEMENTS, LEGAL RIGHTS, ISLAMIC BONDS, GUARANTEE, FINANCIAL SECTOR DEVELOPMENT, RETAIL INVESTORS, NONPERFORMING LOANS, FOREIGN BANK, STOCK MARKETS, BANKING MARKET, GOVERNMENT INTERVENTION,
Acceso en línea:	http://documents.worldbank.org/curated/en/2015/06/24615152/improving-quality-financial-intermediation-gulf-cooperation-council-gcc-countries http://hdl.handle.net/10986/22049
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