World Bank2013-03-282013-03-282012-01https://hdl.handle.net/10986/13031This report follows up on a 2007 World Bank study, Financial Sector Integration in Two Regions of Sub-Saharan Africa: How Creating Scale in Financial Markets Can Support Growth and Development (FSITR henceforth) which identified the opportunities associated with regionalization of financial markets in sub-Saharan Africa (SSA), and also the many challenges associated with realizing the potential of such arrangements. This effort furthers and updates the analysis of the EAC in FSITR by focusing on two aspects of trade in financial services within the EAC:Documenting a clearer picture of financial integration in the EAC, as it is actually taking shape on the ground; and elaborating on the challenges specific to the integration of Burundi and Rwanda who joined the EAC subsequent to the preparation of FSITR. The recommendations are intended to provide inputs which will assist identification of projects to be financed under the proposed EAC Regional Financial Markets Integration Project.en-USCC BY 3.0 IGOACCOUNTINGACCOUNTING STANDARDSACCOUNTING SYSTEMSAMORTIZATIONASSET QUALITYAUDITINGBALANCE SHEETBANK ACCOUNTSBANK OF MAURITIUSBANK OF TANZANIABANK REGULATIONBANK SUPERVISIONBANKING CRISISBANKING LAWBANKING MARKETBANKING REGULATIONBANKING SECTORBANKING SECTORSBANKING SERVICESBANKING SUPERVISIONBANKING SYSTEMBANKING SYSTEMSBARRIERS TO ENTRYBASLE CORE PRINCIPLESBONDBOND ISSUANCEBOND ISSUESBOND MARKETSBROAD MONEYBROKERAGESBROKERSCAPACITY BUILDINGCAPITAL ACCOUNTCAPITAL ACCOUNT RESTRICTIONSCAPITAL ADEQUACYCAPITAL FLOWSCAPITAL INVESTMENTCAPITAL MARKETCAPITAL MARKETSCAPITAL MARKETS DEVELOPMENTCAPITAL REQUIREMENTCAPITAL REQUIREMENTSCAPITALIZATIONCENTRAL BANKCENTRAL BANKSCITY BANKCIVIL LAWCLEARING HOUSECOLLECTIVE INVESTMENTCOMMERCIAL BANKCOMMERCIAL BANKINGCOMMERCIAL BANKSCOMMON LAWCOMMON TRADING PLATFORMCONSOLIDATED SUPERVISIONCORPORATE BORROWERSCORPORATE DEBTCORPORATE GOVERNANCECREDIT APPROVALCREDIT CULTURECREDIT RISKSCREDIT TRANSACTIONSCROSS-BORDER FLOWSCURRENCYDEBTDEBT INSTRUMENTSDEPOSITSDERIVATIVESDEVELOPMENT BANKDIRECT INVESTMENTDOMESTIC BANKSDOMESTIC CORPORATE BONDECONOMIC DEVELOPMENTEMERGING MARKETEQUIPMENTEXCHANGE CONTROLSFINANCIAL CRISISFINANCIAL DEVELOPMENTFINANCIAL FLOWSFINANCIAL INFRASTRUCTUREFINANCIAL INSTITUTIONSFINANCIAL INTEGRATIONFINANCIAL MARKETFINANCIAL MARKETSFINANCIAL MARKETS DEVELOPMENTFINANCIAL SECTOR DEVELOPMENTFINANCIAL SERVICESFINANCIAL STABILITYFINANCIAL SUPPORTFINANCIAL SYSTEMFINANCIAL SYSTEMSFOREIGN BANKFOREIGN BANKSFOREIGN DIRECT INVESTMENTFOREIGN EXCHANGEFOREIGN FINANCIAL INSTITUTIONSFOREIGN INVESTMENTFOREIGN INVESTORSFUND MANAGEMENTGOVERNMENT BONDSHEDGE FUNDSHOME MARKETHOME MARKETSHOST COUNTRYHOUSINGHUMAN CAPITALHUMAN RESOURCEINITIAL PUBLIC OFFERINGSINSTITUTIONAL INVESTORSINSURANCEINSURANCE COMPANIESINSURANCE COMPANYINSURANCE MARKETINSURANCE PREMIUMSINSURANCE PRODUCTSINSURANCE SECTOR INVESTMENTINTERNATIONAL INSTITUTIONAL INVESTORSINVESTINGINVESTMENT BANKINVESTMENT BANKINGINVESTMENT BANKSINVESTMENT CLIMATEINVESTMENT FLOWINVESTMENT FLOWSINVESTMENT OPPORTUNITIESINVESTMENT REQUIREMENTSINVESTOR BASEINVESTOR PARTICIPATIONIPOJUDICIAL SYSTEMLAWSLEGAL SYSTEMSLEGISLATIONLEVEL PLAYING FIELDLIBERALIZATION OF TRADELIFE INSURANCELIFE INSURANCE PRODUCTSLIQUIDITYLIQUIDITY CONSTRAINTSLOANLOCAL BUSINESSESLOCAL INVESTORLOCAL INVESTORSMARKET CAPITALIZATIONMARKET CONDITIONSMARKET FOR GOVERNMENT DEBTMARKET INTEGRATIONMARKET PARTICIPANTSMARKET SIZEMARKET TURNOVERMATURITYMICROFINANCEMICROFINANCE INSTITUTIONMICROFINANCE INSTITUTIONSMINIMUM CAPITAL REQUIREMENTMINIMUM CAPITAL REQUIREMENTSNATIONAL BANKNEW ENTRANTSNONPERFORMING LOANNONPERFORMING LOANSPAYMENT OF INTERESTPENSIONPENSION FUNDSPENSIONSPORTFOLIOPORTFOLIO INVESTMENTSPRIVATE CAPITALPRIVATE SECTOR BANKSPRIVATE SECTOR CREDITPRIVATIZATIONPROFIT MARGINSPROFITABILITYREAL SECTORREGIONAL BOND MARKETREGULATORY AUTHORITYREGULATORY FRAMEWORKREGULATORY FRAMEWORKSRESERVESRETAIL INVESTORSRETURNRETURN ON ASSETSRETURN ON EQUITYRETURNSRETURNS ON EQUITYRISK MANAGEMENTSECURITIESSECURITIES LAWSSECURITIES MARKETSETTLEMENTSETTLEMENT SYSTEMSSTOCK EXCHANGESTOCK EXCHANGESSTOCK MARKETSTOCK MARKETSSTOCKSSTRATEGIC INVESTORSUBSIDIARIESSUBSIDIARYSUPERVISORY CAPACITIESTAXTAX LAWSTAX REGIMETAX REGIMESTECHNICAL ASSISTANCETELECOMMUNICATIONSTRADINGTRADING SYSTEMTRANSACTIONTRANSACTION COSTSTRANSPORTTREASURYTREASURY BILLSTREASURY OPERATIONSTREATYTURNOVER FIGURESWITHHOLDING TAXWorld Bank10.1596/13031