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.
