Barriers and Opportunities for Enhancing Capital Flows
In the COMCEC Member Countries
3
A more in-depth review of the regulatory, legal and institutional frameworks, key stakeholders
governing capital flows and the alignment of countries’ practices with certain established
international frameworks on capital account liberalisation was undertaken for eight COMCEC
Member States. In order to provide a balanced perspective, the countries were selected to cut
across the four World Bank income groups as evenly as possible, and across the OIC’s three
official regional groups: the Arab Group, Asian Group and African Group. Countries were
selected through consultation with the EIU’s regional directors and selection criteria were
based upon the countries’ relative success to date in attracting capital flows and the degree to
which relevant institutions and regulations have been established.
The following eight COMCEC Member States are covered in more depth in this study. They are
also indicated in the table below:
 Bahrain
 Bangladesh
 Indonesia
 Malaysia
 Mozambique
 Nigeria
 Turkey
 United Arab Emirates
World Bank
income group
Countries
Low-income
group
US$1,035 or less
Afghanistan, Bangladesh (Asia), Benin, Burkina Faso, Chad, Comoros, The
Gambia, Guinea, Guinea Bissau, Kyrgyz Republic, Mali, Mozambique (Africa),
Niger, Sierra Leone, Somalia, Tajikistan, Togo, Uganda
Lower-middle
income group
US$1,036 to
US$4,085
Cameroon, Côte d’Ivoire, Djibouti, Egypt, Guyana, Indonesia (Asia),
Mauritania, Morocco, Nigeria (Africa), Pakistan, Senegal, Sudan, Syria,
Uzbekistan, Yemen
Upper-middle
income group
US$4,086 to
US$12,615
Albania, Algeria, Azerbaijan, Gabon, Islamic Republic of Iran, Iraq, Jordan,
Kazakhstan, Lebanon, Libya, Malaysia, Maldives, Suriname, Tunisia, Turkey
(Asia), Turkmenistan
High-income
group
US$12,616 or
more
Bahrain , Brunei Darussalam, Kuwait, Oman, Qatar, Saudi Arabia (Arab),
United Arab Emirates (Arab)