Sentence examples for formal banking system from inspiring English sources

The solution is to regulate financial participants outside the formal banking system.

Somalia is particularly dependent on money-service businesses as it lacks a formal banking system after decades of war.

But Care acknowledges that none of the clients they are working with in Katine are likely to graduate into the formal banking system in the foreseeable future.

If applied on a wider scale, biometrics has the potential to bring out all those savings under mattresses into the formal banking system.

He also said he wanted to turn "shadow banking," effectively lending that takes place outside the formal banking system, into "transparent, market-based finance".

India has been a particularly fertile ground for microfinance loans because its formal banking system does not reach much of its population.

He, like the rest of us, had not fully appreciated that moral norms were not constraining the behaviour of those competing across complex and interlocked global entities that covered both shadow and formal banking systems.

Estimation of international migrant remittance flows is complicated by the fact that an unknown but probably large share of remittances are not channelled through formal banking systems.

By some accounts, the value of assets held in this shadow system is as large or larger than then value of the assets held in the formal, regulated banking system.

The all-party parliamentary group on Somalia and Somaliland has recently raised its own concerns to Barclays and the government regarding this decision, saying the service "provides an essential lifeline of support … especially in the absence of a formal public banking system in the country".

There has also been an attempt to reduce liquidity in the formal and informal banking system.