•  While the focus of the first generation of reforms was to create an efficient, productive and profitable financial services industry, the second phase of financial sector reforms, beginning from the second-half of the 1990s, was aimed at strengthening of the financial system and introduction of structural improvements  •  The need to prepare the financial system in a more globalised environment and to promote financial stability in the face of domestic and external shocks was on top of agenda of reforms.
The pilot project of loan extension against the collateral of rural land contracting and  BIS Review 64/2010  1  operation right and the right to use rural housing site has been conducted to meet multitiered and diversified needs for financial services in rural areas.