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Doing Business in Egypt 2008Doing Business in Egypt 2008 covers
 three topics at the sub national level: starting a business,
 dealing with licenses and registering property. These
 indicators have been selected because they cover areas of
 local jurisdiction and practice. In the last two years,
 doing business in Egypt has become more affordable the
 minimum capital required to start a business and the costs
 of registering property and dealing with licenses have been
 slashed. Doing Business in Egypt 2008 records all procedures
 required for a business in the construction industry to
 build a standardized warehouse. Doing Business in Egypt 2008
 records the full sequence of procedures necessary when a
 business purchases land and a building to transfer the
 property title from another business so that the buyer can
 use the property for expanding its business, as collateral
 in taking new loans or, if necessary, to sell to another
 business. The ease of doing business index is limited in
 scope. The Doing Business indicators provide a new empirical
 data set that may improve understanding of these issues.
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Republic of Romania : Financial Sector AssessmentThis financial sector assessment (FSA)
 summarizes the key findings and recommendations of the 2008
 FSAP update report for Romania. The main findings of the
 FSAP update are: the financial system entered the crisis
 well capitalized and with high liquidity buffers, and the
 four financial sector regulatory authorities have made
 significant progress in adopting international best
 practice, including through transposition of European Union
 (EU) directives, and implementation of many of the
 recommendations of the 2003 FSAP. While the banking system
 is currently well capitalized, the rapid deterioration in
 economic conditions and the depreciation of the leu may put
 strains on bank capital. The measures to strengthen the
 system are needed: an ex ante strengthening of capital
 positions is warranted; the overall exposure of foreign
 parent banks to Romania should be maintained; banks need to
 develop effective debt restructuring or workout procedures
 for household and corporate clients; crisis management
 coordination should be accelerated; bank resolution powers
 strengthened; and deposit insurance funding and payout
 arrangements improved. Some cross-sectoral themes emerge to
 strengthen the supervisory frameworks, including the need to
 strengthen the political independence and financial autonomy
 of the non-bank financial regulators; better cross-sectoral
 cooperation in supervision of financial groups; further
 movement toward a more risk-based approach to supervision;
 better consistency in valuation rules for market
 instruments; adoption of international financial reporting
 standards (IFRS) accounting; and in the banking sector,
 strengthening of the basel two implementation framework.
 Longer term developmental issues include the need to address
 obstacles to capital market development, certain risks in
 insurance, and to ensure sustainability of the pension
 system reform.
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Making Finance Work for NigeriaThis study begins by considering the
 banking sector and then moves on to issues relating to
 improving access to finance to support Nigeria's
 economic growth vision. The second part of the study refers
 to issues relating to longer-term finance: both the sources
 of financing, such as pensions and insurance, and their uses
 in providing financing for resolving Nigeria's crucial
 infrastructure shortfalls in infrastructure and housing. The
 final part of the study returns to the fundamental
 'plumbing' of the financial system focusing on the
 legal and regulatory foundation for creditor rights and
 corporate insolvency, instituting sound corporate governance
 standards for corporations and banks, and providing secure
 and low cost transmittal of payments and remittances. While
 it is difficult to identify a common theme running through
 this volume without compromising the diversity and nuance of
 the recommendations, the overarching theme supported by this
 volume is the importance of exchange of reliable information
 as the basis for financial transactions between unconnected
 third parties. Implementation of systems designed to
 strengthen accounting and reporting standards for banks and
 corporations, the registration of movable and immovable
 property, property liens and credit histories as well as
 exchange of information about prices, interest rates, fees
 and charges for financials services will considerably
 enhance the functionality of financial systems and prove
 crucial in establishing a trusted and robust market-based
 financial system in support of stable economic growth and
 development in Nigeria.