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The ADP Blog is an open platform for practitioners and researchers working on development issues in Arab countries. The ADP welcomes blogs in Arabic, English and French.
 
Interested contributors are encouraged to submit their blog entries (word format, up to 700 words) by e-mail ADPblogs@arabdevelopmentportal.com, mentioning/including the following:
 

1Title of the blog

2Name of the author

3Link to source, if previously published

4Photos (if any – up to 500KB)

5Translated version of your blog (if available)

 

Please note that we reserve the right to introduce minimal edits to the submitted article to enhance the clarity of the text. Major edits will be shared with the contributors ahead of publishing.
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  • Arab Banking: Introduction – Part I

    Wafik Grais, 05 Mar 2015  |  0 Comments
    Arab countries are the domicile of about 430 banking institutions. The industry’s consolidated assets reached US$2.6 trillion by the end of 2012 and grew at a faster rate than the region’s gross domestic product (GDP) that year. These assets represent more than 100 percent of the Arab countries’ aggregate GDP.[1]   At first glance, Arab countries look well banked, with a fairly developed banking system, and numerous banks and branches (table 1). Financial depth is significant in terms of both shares of banking assets and deposits in GDP. Deposits and assets of deposit...Read More

  • Scaling Up PPPs in the Arab World: Making the Business Case; Bidding and Arbitration – Part III

    Julia Devlin, 05 Mar 2015  |  0 Comments
    Key elements of a sound PPP business/feasibility study typically include:   Technical feasibility—outlining plans, site preparation, and environmental approvals Economic feasibility and cost-benefit analysis Risk analysis—allocation of risks between public and private parties Financial appraisal—affordability, bankability, taxes, and accounting Legal analysis.   In Jordan, for example, preliminary evaluations are conducted to assess project “bankability” or private financing eligibility, as well as:   Any eventual public sector...Read More

  • Scaling Up PPPs in the Arab World: PPP Units and Project Budgeting and Monitoring – Part II

    Julia Devlin, 05 Mar 2015  |  0 Comments
    How Are PPP Units Used in Arab States?   Specialized PPP units can provide important focal points for scaling up successful operations. A number of Arab states have established PPP units to advise ministries and local authorities on various technical aspects of PPP project identification and appraisal, such as the PPP Central Units in Egypt. Similarly, in 2008, Tunisia established a Concession Monitoring Unit to study all concession projects, assess project opportunities, and provide inputs at various transaction stages. In Jordan, a PPP Committee Advisory Unit links the...Read More

  • Scaling Up PPPs in the Arab World: Institutional Issues, Trends, Policies, and Legal Frameworks – Part I

    Julia Devlin, 05 Mar 2015  |  0 Comments
    Successful public-private partnerships (PPPs) can deliver high-quality services to consumers at lower cost than when those services are provided through public investment. Experience suggests that success is more likely in countries with a well-defined institutional framework and strong organizational capability. This structure includes an explicit PPP policy and legal framework, clear processes for project identification and budget allocation, and sound feasibility studies of potential projects—verified by unbiased and rigorous approval processes.   Trends  ...Read More

  • Arab Capital Markets: Market Regulation – Part VI

    Wafik Grais, 05 Mar 2015  |  0 Comments
    At the end of this six-part series on Arab Capital Markets, Part VI looks at regulatory structures employed by Arab governments to oversee capital market performance. This section examines the Arab market regulatory bodies in Saudi Arabia and Egypt as well as explores recent Arab reforms seeking improvement of capital market effectiveness.   Capital markets in Arab countries are regulated and supervised generally by a “securities commission” or Capital Market Authority (CMA) exclusively focused on capital markets, or by an agency regulating and supervising all nonbanking...Read More

  • Arab Capital Markets: Developing Fixed-Income Markets in Non-GCC Arab Countries – Part V

    Wafik Grais, 05 Mar 2015  |  0 Comments
    Part V of this six-part series examines the structure of developing fixed-income markets in non-Gulf Cooperation Council (GCC) countries of the Arab world. In this section we examine a few examples of challenged Arab fixed-income markets and explore systemic weaknesses that persist.   Among Arab countries outside the GCC region, Egypt, Jordan, Lebanon, Morocco, and Tunisia have made the most progress in developing debt markets. Since the end of the 1990s, they have taken steps toward building a domestic debt market, with varying degrees of success. More reform is needed...Read More

  • Arab Capital Markets: Fixed Income Markets in the GCC – Part IV

    Wafik Grais, 05 Mar 2015  |  0 Comments
    Part IV of this six-part series examines fixed income markets in the more developed Gulf Cooperation Council (GCC) countries’ markets of the Arab World. This section considers unique features of GCC issues, sukuks, as well as the major players in GCC fixed-income markets and recent growth trends.   Fixed-income paper is issued by central banks, governments, corporations, and other entities to raise resources from the market. They are generally debt obligations of the issuer according to various maturities and with predetermined terms of remuneration. They can take a wide...Read More

  • Arab Capital Markets: Locked Stocks and Equity for SMEs – Part III

    Wafik Grais, 05 Mar 2015  |  0 Comments
    Part III of this six-part series seeks to better understand two interesting features of Arab equity markets. Specifically, why are Arab markets dominated by locked shares and how some Arab governments are using equity markets to foster the development of small and medium enterprises (SMEs).   Free-floats and Locked Stocks   A major feature of developed stock markets is the tradability of listed company shares, allowing prices to reflect company value. Such market liquidity is reflected in small spreads, with large volumes of transactions for each share ensuring...Read More

  • Arab Capital Markets: Equity Markets Across the Arab World – Part II

    Wafik Grais, 05 Mar 2015  |  0 Comments
    Part II of this six-part series provides a brief overview of the structure of equity markets and capitalization across the Arab world.   Equity markets can be a valuable, dynamic mechanism for price discovery—facilitating capital investment, entrepreneurial equity finance, privatization, corporate restructuring, and corporate governance (Rocha et al. 2011). Efficient markets would be liquid, allowing trade to occur always with small spreads between ask and bid prices. They would enable market-based valuation of listed companies. To operate efficiently, markets would...Read More

  • Arab Capital Markets: Introduction – Part I

    Wafik Grais, 05 Mar 2015  |  0 Comments
    One of the roles of finance is to mobilize surplus capital and channel it to agents needing finance. Traditionally that has been the role of financial institutions like banks. However, capital markets have been playing an increasing role directly mobilizing public savings and directly funding predominantly companies or governments. Equity participations and debt are the two main intermediation categories of instruments of capital markets, generally taking the form of equity shares and bonds, respectively.   Arab financial systems are developing their capital markets...Read More

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