As an outcome of financial deregulation, commercial banks have significantly diversified from a domestic dependence on simple interest-bearing loans to a broader range of financial services across international markets. Such initiatives have transformed the structure of the Australian banking...

Sri Lanka went ahead with its financial sector reforms about three decades ago. As the banking sector is the leading sector in most financial systems, the reforms were mainly directed towards the banking sector. Most of these reforms were mainly advocated by the IMF and the World Bank. The...