To facilitate this, there is need for IF industry and regulators to now consider a change in mind set accompanied by enhancement of the legal, regulatory and supervisory infrastructure backed by proper governance framework to allow banks to transact in equity based transactions.
Notwithstanding the progress made, more can definitely be done to bring regional financial cooperation to a level that is on par with the region’s economic and financial potential. BIS Review 86/2007  7  Financial cooperation and efficiency Financial market efficiency is important in accelerating economic development, and market efficiency also contributes to achieving and preserving macroeconomic stability.