Gabon : Financial Sector Assessment

Gabon : Financial Sector Assessment

The report is a joint International Monetary Fund IMF-World Bank Financial Sector Assessment Program (FSAP), which examined Gabon's macroeconomic and financial context, and identified its financial soundness, as well as vulnerabilities. The co...

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Bibliographic Details
Main Author: World Bank
Format: Financial Sector Assessment Program (FSAP)
Language:English
en_US
Published: Washington, DC 2013
Subjects:
ACCOUNTING
ASSET DIVERSIFICATION
AUTHORITY
BANK ACCOUNTS
BANKING SECTOR
BANKING STRUCTURE
BANKING SUPERVISION
BANKING SYSTEM
BANKRUPTCY
BANKS
BROKERS
CAPITAL ADEQUACY
CAPITAL MARKETS
CAPITAL REQUIREMENTS
CAPITALIZATION
CENTRAL BANK
CIVIL SERVICE
COMMERCIAL BANKS
CONFLICT OF INTERESTS
CONSUMER PROTECTION
DEPOSITS
EMPLOYMENT
ENACTMENT
ENTREPRENEURSHIP
EXCHANGE RATE
EXPENDITURE
FINANCIAL ASSETS
FINANCIAL DIFFICULTIES
FINANCIAL INSTITUTIONS
FINANCIAL INTERMEDIATION
FINANCIAL SECTOR
FINANCIAL SECTOR DEVELOPMENT
FINANCIAL SERVICES
FINANCIAL SYSTEM
FINANCIAL SYSTEMS
FINANCIAL VIABILITY
FISCAL
FISCAL POLICY
FISCAL PROBLEMS
FISCAL REVENUES
FOREIGN BANKS
FOREIGN EXCHANGE
FORESTRY
GOVERNMENT OWNERSHIP
GOVERNMENT REVENUES
INCOME
INSURANCE
INSURANCE MARKETS
INTERNATIONALIZATION
JUDICIARY
LACK OF CLARITY
LACK OF COMPETITION
LAWS
LEGISLATION
LEGISLATIVE FRAMEWORK
LIQUIDATION
LIQUIDITY
LITIGATION
MARKET RISK
MICROFINANCE
MORAL HAZARD
OIL
OIL SECTOR
OPERATIONAL RISKS
PAYMENTS ARREARS
PENSIONS
POLITICAL CONSENSUS
PRESIDENCY
PRIVATIZATION
PRIVATIZATION OF STATE
PROFITABILITY
PUBLIC DEBT
PUBLIC ENTERPRISES
PUBLIC FINANCES
PUBLIC SECTOR
REGULATORY FRAMEWORK
SAVINGS
SECURITIES
SOCIAL SECURITY
SOLVENCY
STATE ENTERPRISES
STATE OWNERSHIP
STOCK EXCHANGES
SUBSIDIARIES
SUPERVISORY AUTHORITIES
TRANSPARENCY
VULNERABILITY FINANCIAL SECTOR
BANKING SYSTEMS
FINANCIAL MANAGEMENT
GOVERNMENT ROLE
STATE OWNED ENTERPRISES
BANKING REGULATIONS
RISK MANAGEMENT
FISCAL CONSTRAINTS
LEGAL & REGULATORY FRAMEWORK
SUPERVISORY STRUCTURES
JUDICIAL ADMINISTRATION
BUSINESS ENVIRONMENT
INSURANCE INDUSTRY
INSTITUTIONAL CAPACITY
RISK DIVERSIFICATION
STOCK MARKETS
REGIONAL INTEGRATION
Online Access:http://documents.worldbank.org/curated/en/2003/04/2224540/gabon-financial-sector-assessment
http://hdl.handle.net/10986/14347
Description
Summary:The report is a joint International Monetary Fund IMF-World Bank Financial Sector Assessment Program (FSAP), which examined Gabon's macroeconomic and financial context, and identified its financial soundness, as well as vulnerabilities. The country's financial sector is overall, profitable and stable, though still relatively underdeveloped. Banks - which dominate the financial sector - find their activities and growth potential, limited by the size of the non-oil economy, given that financing of the oil sector is largely undertaken outside the country. While the government retains a strong role in the financial sector, as owner and as client, through public enterprises, solvency levels in some of the banks are close to the forthcoming regulatory minimum of eight percent (effective in 2004).This risk is enhanced by the banking sector's portfolio concentration. Moreover, fiscal problems have in the past had direct, and indirect negative repercussions on the performance of the financial sector. The report further analyzes the legal, regulatory and supervisory issues, stating the judicial system is deficient, enhancing risks and costs of doing business, including for the financial sector, while the insurance market is for the most part, stagnant, and lacking product innovation. Recommendations for legal and judicial issues include a strengthened framework that enables transparency, including predictability in the disposition of financial sector litigation; and, recommendations for the financial sector development suggest pursuing adequate risk diversification strategies; merging with regional stock exchanges; and, identifying financial mechanisms to establish a micro-finance sector.

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