Retail Payment Systems
In the OIC Member Countries
43
Thus, to obtain a deeper understanding of retail payment systems we take eight cases: Egypt,
Indonesia, Ivory Coast, Morocco, Nigeria, Pakistan, Turkey, and United Arab Emirates (UAE).
According to the FTSE Country Classification16 as at September 2014, most of the countries
being studied are secondary emerging countries (see Figure 3). Two other countries, Ivory
Coast and Nigeria, are categorised as frontier countries. Only one country, Turkey, is in the
advanced emerging stages.
Figure 3. Case study countries classification according to FTSE
16 FTSE Group is a provider of economic and financial data and assigns the market status of countries as Developed,
Advanced Emerging, Secondary Emerging or Frontier on the basis of their economic size, wealth, quality of markets, depth of
markets, breadth of markets See:
PRE-FRONTIER FRONTIER SECONDARY
EMERGING
ADVANCED
EMERGING
DEVELOPED