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Document Type

Conference Paper

Publication Date

8-28-2004

Conference Name

South Asian Federation of Accountants Conference

Conference Location

New Delhi, India

Conference Dates

August 28, 2004

Series

Faculty Research - Book Chapters and Conference Papers

First Page

1

Last Page

11

Keywords

Banking sector, SAARC, Regulatory framework, South Asia region, Pakistan

Abstract / Description

Harmonization of the banking sector should not be seen as an objective in itself for the member countries of SAARC region but it should be considered as a tool for achieving a large objective. South Asia has the largest number of poor people in the world. Any objective must therefore aim to address this particular issue in a perceptible way. Thus there must be a broad agreement and consensus that the objective should be greater production and exchange of goods and services among the regional countries so that the larger market achieved through intra-regional trading is able to generate economies of scale, lower cost of production, increase efficiency and lead to higher growth rate and reduce the incidence of poverty. Unless all the stakeholders in the countries of the region strike a consensus, forge a strategy and action plan in a sequenced and structured way the likelihood of an enlarged South Asian market becoming fully effective will remain low.

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