2011年-世界发展银行全球_The_Status_of_Bank_Lending_to_SMEs_in_the_Middle_East_and_North_Africa_Region___Results_of_a_Joint_Survey_of_the_Union_of_Arab_Bank_and_the_World_Bank_61页_2mb

Summary of the Status of Bank Lending to SMEs in the Middle East and North Africa Region

Core Content

This paper presents the findings of a joint survey conducted by the Union of Arab Banks (UAB) and the World Bank, focusing on the status of bank lending to small and medium-sized enterprises (SMEs) in the Middle East and North Africa (MENA) region. The study highlights the challenges and opportunities in SME financing, emphasizing the role of financial infrastructure, regulatory environment, and the strategies employed by banks in the region.

Main Points

1. SME Lending in MENA

• The average share of SME lending in the MENA region is less than 8% of total lending, which is significantly lower than in developed and developing countries.
• There are significant differences between the GCC and non-GCC sub-regions:
  • GCC countries: Average SME lending share is 2%.
  • Non-GCC countries: Average SME lending share is 13%.
• Long-run targets for SME lending are higher than current levels, indicating substantial room for growth.
  • GCC banks: Target around 12% of total lending.
  • Non-GCC banks: Target around 27% of total lending, similar to developed economies.

2. Challenges in SME Lending

• Main obstacles to SME lending in the MENA region include:
  • Lack of SME transparency.
  • Weak credit information systems.
  • Weak creditor rights and collateral regimes, especially for movable assets.
• Regulatory barriers (e.g., interest rate ceilings) are not a major concern for banks.
• Financial infrastructure remains a critical weakness, limiting the ability of banks to effectively assess and manage risks.

3. Role of State Banks

• State banks still play a significant role in SME financing, with an average share of 9% of total lending, very close to that of private banks.
• They tend to:
  • Take greater risks in SME lending.
  • Have a higher share of investment loans.
  • Be less selective in targeting SMEs.
  • Use less sophisticated risk management systems and dedicated SME units.

4. Risk Management and Lending Technologies

• Private banks generally have more advanced lending technologies and risk management systems.
• Credit scoring, risk-rating tools, and special products (e.g., leasing, factoring) are more commonly used by private banks.
• State banks have a lower share of dedicated SME units and less use of credit scoring and stress tests.

5. Policy Interventions

• Credit guarantee schemes are a popular form of support for SME finance in the region, with 10 countries implementing them.
• These schemes are associated with higher SME lending, but their cost-effectiveness is difficult to evaluate.
• Other interventions include:
  • Exemptions on reserve requirements.
  • Credit subsidies.
  • Subsidized lending.

Key Policy Implications

• Improving financial infrastructure should be a priority, including:
  • Enhancing credit information systems.
  • Strengthening creditor rights.
  • Improving collateral regimes, especially for movable assets.
• Credit guarantee schemes should be well-designed and cost-effective to ensure their sustainability.
• Increasing competition in the SME lending market can be achieved by:
  • Reducing entry barriers.
  • Encouraging the entry of international and regional banks that are leaders in SME finance.
• Avoiding overly restrictive regulations can help promote more efficient and inclusive SME lending.

Survey Methodology and Data

• The MENA survey was conducted between December 2009 and April 2010.
• It included 50 questions in four sections:
  • Strategic approach to SME lending.
  • Main products offered.
  • Risk management techniques.
  • Quantitative measures of SME lending.
• The survey was sent in English, French, and Arabic and had a high response rate (slightly less than half of the universe).
• 139 banks in 16 countries responded, with a total of $64% of the banking system loans.
• The sample includes:
  • 29 state banks and 110 private banks.
  • 76 domestic private banks and 34 foreign banks (mostly subsidiaries of MENA-based parent banks).

SME Definitions and Thresholds

• Banks in the MENA region use different definitions for SMEs, typically based on employees and turnover.
• GCC banks:
  • Average minimum employees for a small firm: 3.
  • Average maximum employees for a small firm: 24.
  • Average maximum employees for a medium firm: 90.
• Non-GCC banks:
  • Average minimum turnover for a small firm: US $61,000.
  • Average maximum turnover for a medium firm: US $4.7 million.
• These thresholds are much lower than those in the EU, reflecting the smaller size of SMEs in the region.

Conclusion

The survey indicates that SME lending in the MENA region is underdeveloped, but there is significant potential for growth. While state banks and policy interventions have played a crucial role, structural improvements in financial infrastructure and legal frameworks are essential for sustainable development of SME finance. The paper recommends a policy agenda focused on enhancing credit information systems, improving creditor rights, and promoting competition through market liberalization and encouraging the entry of more efficient banks.