In this case the financial integration entails the liberalisation and harmonisation of money and capital markets to facilitate payments and investments, and this provides a primary source for medium to long-term securities and debt instruments, which are essential for investments in the regional market.
The process includes all capital markets’ institutions, such as commercial banks, private financial institutions, investment funds, insurance companies and of course, central banks. That is, the process usually involves the business development first and capital markets after.