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Vol 21 No 10 Oct/Nov 2016

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Banking and Debt Recovery in Emerging Markets

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ISBN13: 9780754621652
ISBN: 0754621650
Published: March 2002
Publisher: Ashgate Publishing Ltd
Format: Hardback
Price: Out of print



An examination of debt recovery in the South Asian countries of India, Sri Lanka and Malaysia. These countries have been chosen for different reasons: India, because it is one of the largest emerging economies in Asia; Sri Lanka, because of its legal system, which is a blend of common law and Roman Dutch legal concepts; and Malaysia, on account of the significant economic progress it has made through the adoption of a special socio-governmental approach.;It is hoped that this comparative analysis would enable sufficient improvement in debt recovery laws and practices in emerging economies, to bring about significant economic and social progress. The main purport of this book is to demonstrate that a suitable debt recovery system for a developing economy requires, not only good laws and judicial remedies in place, but also appropriate financial industry practices as to credit and loan supervision policies, linked to equitable debt recovery procedures that include effective enforcement of security.

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Contents:
Part 1 Introduction: economic and financial development - policy issues; foundations for a sound market economy; market reforms and good governance; absence of a market-friendly legal environment; debt recoverty - problems; debt recoverty in India, Sri Lanka and Malaysia; scope of this book.
Part 2 Credit allocation and debt recovery - the reform context: major financial reforms in India - post-independence years; economic and financial reforms in Sri Lanka; economic and financial reforms in Malaysia; the central banks and their role.
Part 3 Credit allocation and loan supervision: credit appraisal; credit information; lending agreements; loan supervision; informal credit.
Part 4 Enforcement of security: range of available security in India; range of security available in Sri Lanka; range of available security in Malaysia; enforcement of security in India; enforcement of security in Sri Lanka; enforcement of security in Malaysia; problems of enforcing security.
Part 5 Recovery through the courts: ordinary actions in India and Sri Lanka; ordinary actions in Malaysia; summary procedure; debt recovery suits filed under special legislation; winding up in India, Sri Lanka and Malaysia; receivership in India, Sri Lanka and Malaysia; delays in the courts.
Part 6 Final observations and recommendations: tensions between market reforms and the law; law and practice of credit allocation and debt recovery.