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The restriction of the financing environment is rooted in the highly centralized financial system left over from the planned economy during the economy's transformation that was viewed as inappropriate for SMEs (Lin and Li 2001) and which discriminated against SMEs' loans (Lin et al. 2003).
They also advocated a modern, centralized financial system to pay for the needed investments.
"The office of C.F.O. is Elsie's and that is part of the agreement and she will be running a centralized financial system," he said.
Akbar's reforms required a centralized financial system, and, thus, by the side of each provincial governor (sūbadār, later called nawab) was placed a civil administrator (dīwān, or divan) who supervised revenue collection, prepared accounts, and reported directly to the emperor.
Similar(56)
He reformed and strengthened his central administration and also centralized his financial system and reorganized tax-collection processes.
At home, Treasury Secretary Geithner has proposed centralizing financial regulation at the Treasury, including the power to oversee and shut down institutions like AIG that threaten the stability of the global financial system.
Their creation nonetheless centralizes financial supervision in Europe, a more fundamental shift than any foreseen in Washington.
The financial system was reformed.
One is the financial system.
Our financial system is solid.
The financial system remains dysfunctional.
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