Kiatchai Sophastienphong

The financial sectors in South Asia Region (SAR) are dominated by commercial banks, which account for the vast majority of the financial system's assets. The domestic debt markets including the government bond and corporate bond markets are at an early stage of development and there are few institutional investors. In recent years, countries in SAR have attempted to develop local debt markets, although the pace of development remains uneven and slow due to many regulatory and institutional impediments. With the notable exception of India, governments in SAR have yet to implement measures required for the proper development of the domestic bond markets. The book will provide a comprehensive overview of the major bond markets in SAR (Bangladesh, India, Nepal, Pakistan and Sri Lanka) highlighting the areas which need further reforms. It is hoped that the book will contribute to our knowledge of bond markets in South Asian countries and create a broad based ownership of the recommendations made by the authors.

The financial sectors in South Asia are dominated by commercial banks, which account for the vast majority of the financial system's assets. The domestic debt markets including the government bond and corporate bond markets are at an early stage of development and there are few institutional investors. In recent years, countries in South Asia have attempted to develop local debt markets, although the pace of development remains uneven and slow due to many regulatory and institutional impediments. With the notable exception of India, governments in South Asia have yet to implement measures required for the proper development of the domestic bond markets. This book will provide a comprehensive overview of the major bond markets in Bangladesh, India, Nepal, Pakistan and Sri Lanka, highlighting the areas which need further reforms.

This title is part of an initiative by the World Bank to develop standard indicators to measure the performance and soundness of the financial sector in the South Asia region and help pinpoint where performance is strong and where improvements are most needed. This book compiles indicators in six categories: access to finance, performance and efficiency, stability, corporate governance, capital market developments, and market concentration and competitiveness. These measures provide a new and more holistic perspective on getting finance in South Asia, and also help improve our understanding of the financial systems in South Asian countries. The book contains an attached CD-ROM with selected indicators.