World Bank2012-06-182012-06-182005-06https://hdl.handle.net/10986/8300This report combines a study undertaken in two phases of the Benin financial sector. Phase 1 of the study, conducted in 2003, provided a diagnostic of the financial system and focused on the state and performance of commercial banks, microfinance institutions, insurance companies and the pension fund system. Phase 2 of the study, conducted in the first half of 2004, focused on analyzing the access to finance issue identified during the diagnostic study. The lack of access to financial services by the majority of the population in Benin was the main issue revealed by the study. The study explored the view among financial institutions and banks that the lack of credit to the majority and to small and medium enterprises in particular was due to a judicial system that is slow, efficient, arbitrary, and nontransparent. Weaknesses in the legal and judicial framework governing enforceability of commercial contracts and property rights, collateral, and land and real estate registration were cited by bankers as major obstacles to the development of greater access to credit.en-USCC BY 3.0 IGOACCOUNTINGACCOUNTING STANDARDSADMINISTRATIONAFFILIATEDAGRICULTURAL INSURANCEAGRICULTUREASSURANCEAUCTIONSBAD DEBTBALANCE SHEETBANK DEPOSITSBANK OF CENTRAL AFRICAN STATESBANK SERVICESBANKING CRISISBANKING LAWBANKING SECTORBANKING SUPERVISIONBANKING SYSTEMBANKNOTESBANKSBANQUE CENTRALE DES ETATS DE L'AFRIQUE DE L'OUESTBANQUE DES ETATS DE L'AFRIQUE CENTRALEBASE LENDING RATESBROKERSBUSINESS LAWCAPITAL ADEQUACYCASE BY CASE BASISCENTRAL BANKCENTRAL GOVERNMENTCHANNELSCOLLATERALCOMMERCIAL BANKSCOMMISSIONSCOMMODITY PRICESCOMMUNITIESCONNECTED LENDINGCONSUMER PRICE INDEXCONSUMERSCONTRACTUAL RIGHTSCOUNTRY DIRECTORCOUNTRY ECONOMISTCOUNTRY OFFICE MANAGERCOVERAGECREDIT CONTROLCREDIT COOPERATIVESCREDIT INSTITUTIONSCREDIT UNIONCREDIT UNIONSDEMAND DEPOSITSDEPOSITSDEVALUATIONDISCOUNT RATEDOMESTIC CREDITDONOR COMMUNITYECONOMIC DOWNTURNSECONOMIC LIFEECONOMIC OPPORTUNITIESECONOMIC PERFORMANCEEFFECTIVE BANKING SUPERVISIONETHNIC GROUPSEXCESS LIQUIDITYEXCHANGE COMMISSIONFINANCIAL DEEPENINGFINANCIAL ECONOMISTFINANCIAL INSTITUTIONSFINANCIAL INTERMEDIARIESFINANCIAL INTERMEDIATIONFINANCIAL MARKETSFINANCIAL PERFORMANCEFINANCIAL PRODUCTSFINANCIAL RESOURCESFINANCIAL SECTORFINANCIAL SECTOR REVIEWFINANCIAL SECTOR SPECIALISTFINANCIAL SECTOR STUDYFINANCIAL SERVICESFINANCIAL STATEMENTSFINANCIERSFOREIGN BANKSFOREIGN CURRENCYFOREIGN CURRENCY DEPOSITSFOREIGN SHAREHOLDERSGABGDPGDP PER CAPITAGROSS DOMESTIC PRODUCTGROSS OPERATING INCOMEGUIDANCEHOUSEHOLDSIAISINFLATIONINSPECTIONSINSURANCEINSURANCE COMPANIESINSURANCE INDUSTRYINSURANCE MARKETSINSURANCE POLICYINSURANCE SUPERVISIONINSURANCE SUPERVISORSINTEREST EXPENSEINTEREST INCOMEINTEREST RATEINTEREST RATESINTERNATIONAL BANKINGINTERNATIONAL DEVELOPMENTINTERNATIONAL MONETARY FUNDINTERNATIONAL NORMSINTERNATIONAL STANDARDSINVESTMENT PROJECTSLEASINGLEGAL FRAMEWORKLEGISLATIONLENDER OF LAST RESORTLENDING PRACTICESLICENSESLICENSINGLICENSING OF BANKSLIFE INSURANCELIFE INSURANCE COMPANIESLIQUIDATIONLIQUIDITY RATIOM2MARKET DEVELOPMENTMATURITIESMEDIUM ENTERPRISEMEDIUM ENTERPRISESMICROFINANCEMICROFINANCE REGULATIONMICROINSURANCEMINISTER OF FINANCEMINISTRIES OF FINANCEMINISTRY OF FINANCEMONETARY POLICYNATIONAL AUTHORITIESNATIONAL INCOMENATIONAL LEGISLATIONNET INTEREST MARGINNET OPERATING INCOMENET PROFITNON-LIFE INSURANCEOFFSITE SUPERVISIONOPERATING EFFICIENCYOPERATING EXPENSESPAPER SERIESPENSION SCHEMESPER CAPITA INCOMEPERFORMANCE INDICATORSPOPULATION GROWTHPORTFOLIOPORTFOLIO QUALITYPORTFOLIOSPREMIUMSPRINCIPLESPRIVATE COMMERCIAL BANKSPRIVATE SECTORPRIVATE SECTOR DEVELOPMENTPRIVATE SECTOR DEVELOPMENT PROJECTPRIVATIZATIONPROFITABILITYPROGRAMSPROPERTY RIGHTSPRUDENTIAL REGULATIONPRUDENTIAL REGULATIONSPRUDENTIAL RULESPUBLIC FINANCESRATING SYSTEMREAL ESTATEREAL GDPREAL GROSS DOMESTIC PRODUCTRECAPITALIZATIONRECOMMENDATIONSREGULATORY AUTHORITYREGULATORY BARRIERSREGULATORY FORBEARANCEREPRESENTATIVESRESERVE REQUIREMENTSRESERVESRESPONSIBILITIESRESTRICTIONSRETURN ON ASSETSRETURN ON EQUITYRISKY BUSINESSROAROERURAL AREASSAVINGSSAVINGS ACCOUNTSSECTORSSECURITIESSHAREHOLDERSSHAREHOLDINGSOCIAL PROTECTIONSOCIAL SECURITYSOCIAL SECURITY SYSTEMSSOCIAL SERVICESSTABLE MACROECONOMIC ENVIRONMENTSTAKEHOLDERSSTARTING POINTSTATEMENTSSTRUCTURAL ADJUSTMENTSTRUCTURAL ADJUSTMENT PROGRAMSUBSIDIARYSUPERVISORY FRAMEWORKSURPLUSTIME DEPOSITSTOTAL ASSETSTRADETRADINGTRENDSURBAN AREASVALUEVALUE ADDEDWORKING CAPITALWorld Bank10.1596/8300