Inadequate regulations or failure of regulations to keep pace with financial innovations could have been reasons for financial crises but equally critical contributing factors for financial distress have been inadequate internal control, false assumptions about market and liquidity, and lack of...

Alternative channels of finance have the capacity to fill the gap where formal finance is unable to reach or has proven to be inefficient. It also has the potential to soften the lending rates as a result of lower operational costs and enhanced competition with the traditional lending channels....