Staff of the  International Monetary Fund (IMF) have built on the World Bank framework by developing indices to measure the level of development of financial institutions and markets in terms of depth, access and efficiency, thus expanding the range of indicators used to assess financial development.
These multidimensional indices capture the fact that financial services are provided by multiple financial institutions offering a wide array of products and services. The Africa Financial Markets Index is a valuable addition to this earlier work, where the ABSA Banking Group has partnered with the Official Monetary and Financial Institutions Forum (OMFIF), an independent think tank for central banking, economic policy and public investment.