The Development of Non-bank Financial Institutions in Ukraine : Policy Reform Strategy and Action Plan
The prospect of European integration presents huge opportunities and challenges for the development of non-bank financial institutions (NBFIs) in Ukraine. By most measures, the development of the NBFI sector in Ukraine lags far behind that of recen...
| Main Authors: | , , , , |
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| Format: | Publication |
| Language: | English en_US |
| Published: |
Washington, DC: World Bank
2012
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2006/01/6885890/development-nonbank-financial-institutions-ukraine-policy-reform-strategy-action-plan http://hdl.handle.net/10986/7036 |
| Summary: | The prospect of European integration
presents huge opportunities and challenges for the
development of non-bank financial institutions (NBFIs) in
Ukraine. By most measures, the development of the NBFI
sector in Ukraine lags far behind that of recent accession
countries in Central Europe. To address the main impediments
facing the development of the sector, the Ukrainian
authorities need to implement a strategy based on six main
pillars: 1) strengthen the capacity, independence, funding,
and accountability of the NBFI regulators; 2) develop money
markets, government bond markets, and municipal bond
markets; 3) restructure equity markets; 4) accelerate the
introduction of funded pension schemes, and, improve
transparency and consumer protection in the insurance
industry; 5) radically transform corporate governance; and,
6) broaden access of NBFI finance. |
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