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Financial System Efficiency

In: Banking and Financial Systems in the Arab World

Author

Listed:
  • Philip Molyneux

    (University of Wales Bangor)

  • Munawar Iqbal

    (Islamic Research and Training Institute, Islamic Development Bank)

Abstract

We have already noted various features of Arab banking and financial systems and also identified that a major objective of the various financial liberalization programmes undertaken aim to promote more competitive, stable and better-performing operating environments. Inextricably linked to these objectives is the improvement in the efficiency of banks and the financial system overall. This chapter examines the main issues concerning the study of financial system efficiency. Among many functions the financial system performs, there are two that are essential for any economy: one is the administration of the payments mechanism, and the other is intermediation between ultimate savers and borrowers. However, undertaking these functions may not be sufficient for the financial system to maintain its wellbeing and performance. The experience of many financial systems that have experienced financial crises suggests an essential element in the functioning of the financial system is the extent of its efficient operation. This is crucially linked to the soundness and safety of the financial system overall.

Suggested Citation

  • Philip Molyneux & Munawar Iqbal, 2005. "Financial System Efficiency," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Banking and Financial Systems in the Arab World, chapter 7, pages 174-216, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-0-230-51212-2_7
    DOI: 10.1007/978-0-230-51212-2_7
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