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    An Assessment of Financial Sector Development in Bhutan

    Cole, Rebel A.; Carrington, Sarah | August 2016
    Abstract
    This paper presents the results of an investigation into the performance and stability of Bhutan’s banking system. The study has found that economic growth has fueled a large demand for household credit over recent years, and in turn, banks have responded by substantially increasing their loan portfolios. Private sector credit growth took off from its earlier steady pace in the years preceding 2008, reaching over 40% growth year-on-year in the 2009-10 fiscal year, and has retained a relatively high growth rate even as heavy import restrictions remain in place. Although the largest recipient of credit is the building and construction sector, personal loans now make up more than 18% of credit extended to the private sector. And while non-performing loans have decreased substantially from their peak of close to 40% in the mid-1990s, they are still relatively high, and are decreasing as much due to total private sector credit growth as they are to loan recovery rates. Within this context, this paper discusses policy recommendations to strengthen and improve the banking sector. These policy measures include fostering banking sector competition, improving regulatory practices—on both the monitoring and the enforcement side—and enhancing risk diversification and liquidity management practices.
    Citation
    Cole, Rebel A.; Carrington, Sarah. 2016. An Assessment of Financial Sector Development in Bhutan. © Asian Development Bank. http://hdl.handle.net/11540/7599. License: CC BY 3.0 IGO.
    ISSN
    2313-5867 (Print)
    2313-5875 (e-ISBN)
    Keywords
    Cultural Development
    Development Economics
    Development Issues
    Financial Sector Development
    Infrastructure Development
    Urban Development Finance
    Financing
    Financial System
    Financial Sector Reform
    Financial Institution
    Bank Financing
    Rural planning
    Economic development
    Economic indicators
    Standard of living
    Development projects
    Development policy
    Housing projects
    Development models
    Social reform
    Urban planning
    Public Borrowing
    Credit Policy
    Banks
    Real estate development
    Housing development
    Community banks
    Mortgage banks
    Housing policy
    Tax administration and procedure
    Real property and taxation
    Property tax
    Credit control
    Banks and banking
    Title companies
    Tax deductions
    Accounts
    Savings
    Show allCollapse
    Citable URI
    http://hdl.handle.net/11540/7599
    Metadata
    Show full item record
    Thumbnail
    sawp-044.pdf (1.109Mb)
    Author
    Cole, Rebel A.
    Carrington, Sarah
    Theme
    Development
    Finance
    Labor Migration
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise