2015年-世界发展银行全球_Mali_Financial_Sector_Assessment___Development_Module_33页_362kb

报告摘要

Financial Sector Assessment - Development Module: Mali (December 2015)

Core Content Overview

The Financial Sector Assessment Program (FSAP) Development Module for Mali, conducted by a World Bank team from March 2-13, 2015, aimed to evaluate the financial sector's role in supporting economic growth and development. The assessment covered key areas including the banking sector, microfinance, agricultural finance, insurance, and housing finance. It identified vulnerabilities and provided policy recommendations to improve financial stability and access to financial services.

Main Findings

Economic Context: Mali is a landlocked country in West Africa with a population of about 14.9 million and a GDP per capita of USD 480. The economy is largely rural, with over two-thirds of the population engaged in agriculture, primarily cotton. Gold is the largest export, but its production is declining. The service sector accounts for 40% of GDP and is dominated by trade and commerce.
Financial Sector Overview: The banking sector dominates the financial landscape, holding 97% of financial assets. Private credit to GDP stood at 21.8% in 2013, above the African and low-income country averages. However, access to banking services remains limited, and financial inclusion is low, with only 12.4% of adults holding bank accounts in 2013.
Key Challenges:
- Credit Concentration: Credit is concentrated in a limited set of companies and government securities, which undermines financial stability and economic diversification.
- Liquidity Constraints: Liquidity is tight due to insufficient deposit mobilization and increased investment in government securities.
- Legal and Judicial Weaknesses: Contract enforcement is weak, secured transactions laws are not fully operational, and the insolvency framework is outdated.
- Credit Information System: There is no centralized credit information platform, making it difficult for banks to assess credit risk.
- Agricultural Finance: Agricultural production receives only 5% of private sector credit, despite being a key contributor to GDP and employment.
- Microfinance: The sector faces a crisis and its products do not align well with agricultural seasonality.
- Insurance: Insurance penetration is very low at 0.52% of GDP, lagging behind regional and continental peers.
- Housing Finance: The housing finance market is underdeveloped, with limited mortgage lending and high interest rates.

Key Recommendations

Sector	Recommendations	Priority	Time Frame	Principal Player
Banking Sector	- Reduce risk concentrations by revising the WAEMU single exposure limit.	High	Short/Mid	WAEMU Authorities
	- Tighten provisioning requirements and improve transparency in balance sheets	Medium	Short/Mid	BCEAO, Banking Commission
	- Review rules favoring government securities over private sector credit.	Medium	Short/Mid	Council of Ministers, BCEAO
	- Promote digital financial services.	Medium	Short/Mid	MoF, Private Sector Providers
Legal and Judicial Environment	- Implement the uniform law on Credit Information Bureau (BIC).	High	Short	MoF, BIC, APBEF
	- Complete automation of the Bamako RCCM.	High	Short	Ministry of Justice
	- Introduce a land registry and improve property management.	High	Short	Ministry of Justice
	- Reform the OHADA insolvency law to align with international best practices.	High	Short	National Commission for OHADA
Microfinance Sector	- Strengthen the capacity and autonomy of the CCS/SFD.	High	Medium	MoF
	- Implement the emergency plan for microfinance in coordination with regional initiatives.	High	Short	MoF, CCS/SFD
	- Operationalize the compensatory mechanism with government funding.	High	Short	MoF, CCS/SFD
Agricultural Finance	- Build capacity of banks and MFIs to offer agricultural services.	Medium	Medium	MoF, Ministry of Agriculture
	- Accelerate regulatory reforms to support equipment leasing.	High	Medium	BCEAO, MoF
Insurance Sector	- Address deficiencies in motor insurance, including low coverage and absence of a motor guarantee fund.	High	Medium	MoF
Housing Finance	- Complete privatization of the Banque de l'Habitat du Mali.	High	Short	MoF
	- Revise the business model of the Fonds de Garantie Hypothécaire du Mali.	Medium	Medium	MoF

Conclusion

The FSAP Development Module for Mali highlights the need for structural reforms to enhance financial stability, expand access to credit, and improve financial inclusion. While the banking sector is generally sound, it faces challenges in credit diversification, liquidity, and legal frameworks. The microfinance and agricultural finance sectors require stronger support and regulatory alignment, and the insurance and housing finance markets are underdeveloped. Addressing these issues will be critical to supporting sustainable economic growth in Mali.

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