Sri Lanka : Improving Access to Financial Services, Selected Issues

Sri Lanka has made significant achievements in the provision of financial services in some areas, but there are still critical market segments that remain underserved, especially for small and rural enterprises. Low-income households could also benefit from access to a more diverse set of financial products, such as enhanced remittances and payment services, longer-term savings instruments, insurance products, and improved access to housing finance. The complexity and diversity of the needs suggest that various approaches have to be examined and that a broad range of institutions can be engaged in the delivery of financial services. This report analyzes opportunities for expanding services to key underserved markets. Chapter 2 looks at the expansion of financing opportunities for small businesses. Chapter 3 complements the analysis of Chapter 2 by examining how to improve finance for agriculture through supply chains. Chapter 4 focuses on delivery channels for rural remittances. Remittances to Sri Lanka have been growing rapidly, and the risks posed by informal networks need to be minimized. Moreover, linking migrants to formal financial institutions will yield additional benefits by exposing them to a broad range of financial services (such as savings, credit, and insurance) that can help them manage their economic risks better. Chapter 5 explores the potential role of the postal network in broadening access to financial services in rural areas. Chapter 6 summarizes the main findings of the report.

Bibliographic Details

Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2005-01
Subjects:	ACCOUNTING, ADB, AGRICULTURAL FINANCE, AGRICULTURAL PRODUCE, AGRICULTURAL SECTOR, AGRICULTURAL SERVICES, AGRICULTURAL SUPPORT, AGRICULTURE, ASSETS, AUTOMATED TELLER MACHINES, BALANCE OF PAYMENTS, BANK BRANCHES, BANK DEPOSITS, BANKING LEGISLATION, BANKING SECTOR, BANKING SYSTEM, BANKING SYSTEMS, BETTER ACCESS TO INFORMATION, BORROWING, CAPITALIZATION, CENTRAL BANK, CENTRAL BANK OF SRI LANKA, CLEARING HOUSE, CO-OPERATIVE, COMMERCIAL BANK, COMMERCIAL BANKS, COMPANY, COMPREHENSIVE STRATEGY, CONFLICT, CONSUMERS, CONTRACTUAL SAVINGS, CONTRACTUAL SAVINGS INSTITUTIONS, COOPERATIVES, CORPORATION, CREDIT RISK, CROWDING OUT, DEBT, DEPOSITS, DUE DILIGENCE, ECONOMIC GROWTH, ECONOMIC RISKS, ELECTRONIC FUNDS, ELECTRONIC FUNDS TRANSFER, ELECTRONIC FUNDS TRANSFER SYSTEMS, EMPLOYMENT, EXCLUSIVE RIGHTS, FACTORING, FARMERS, FINANCIAL DEEPENING, FINANCIAL INSTITUTION, FINANCIAL INSTITUTIONS, FINANCIAL INSTRUMENTS, FINANCIAL MANAGEMENT, FINANCIAL MARKETS, FINANCIAL PERFORMANCE, FINANCIAL RECORDS, FINANCIAL SECTOR, FINANCIAL SERVICES, FINANCIAL STATEMENTS, FINANCING SOURCES, FISCAL DEFICITS, FOREIGN BANKS, FOREIGN ENTRY, GDP, GROSS DOMESTIC PRODUCT, GROWTH POTENTIAL, HOUSING, INCOME, INSURANCE, INSURANCE INDUSTRY, INTEREST RATES, INVESTMENT COMPANIES, KOREA, LEGAL FRAMEWORK, LEGISLATIVE FRAMEWORK, LENDING PATTERNS, LIMITED, LIQUIDITY, LTD., MACROECONOMIC STABILITY, MANAGEMENT INFORMATION SYSTEMS, MANDATES, MERCHANT BANK, MERCHANT BANKS, MICROFINANCE, NET SAVINGS, NONBANK FINANCIAL INSTITUTIONS, NONPERFORMING LOANS, PAYMENT SYSTEMS, PENSIONS, POOR, POOR HOUSEHOLDS, PORTFOLIOS, POVERTY ALLEVIATION, POVERTY INCIDENCE, POVERTY REDUCTION, PRIVATE BANKS, PRIVATE COMMERCIAL BANKS, PRIVATE PARTNERSHIPS, PRODUCT MARKETS, PRODUCTIVITY, PROFITABILITY, PROPRIETARY, PUBLIC FINANCIAL INSTITUTIONS, PUBLIC POLICY, PUBLIC SERVICES, REAL INTEREST RATE, REGIONAL DEVELOPMENT BANKS, REGULATORY FRAMEWORK, RESOURCE ALLOCATION, RESOURCE MOBILIZATION, RETIREMENT, RISK MANAGEMENT, RURAL, RURAL AREAS, RURAL BANKS, RURAL CREDIT, RURAL ENTERPRISES, RURAL FINANCE, RURAL FINANCIAL SERVICES, RURAL HOUSEHOLDS, RURAL INFRASTRUCTURE, RURAL SECTOR, SAVINGS, SAVINGS ACCOUNTS, SECURITIES, SECURITIZATION, SMALL BUSINESS, SMALL BUSINESSES, SOCIETIES, SPECIALIZED BANKS, STAKEHOLDERS, STATE BANK, STATE BANKS, STATE ENTERPRISES, SUBSIDIARY, TECHNICAL ASSISTANCE, TOTAL FACTOR PRODUCTIVITY, TRANSACTION COSTS, TRANSACTIONS COSTS, TRANSPORT, TRUSTS, VALUE ADDED, VENTURE CAPITAL,
Online Access:	http://documents.worldbank.org/curated/en/2005/01/6966868/sri-lanka-improving-access-financial-services-selected-issues https://hdl.handle.net/10986/8812
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