Banking in Central Asia and Mongolia
£ 30.00 – £ 60.00
Banking in Central Asia and Mongolia Since 1975
This volume traces the history of banking in Central Asia and Mongolia since the last quarter of the nineteenths century.
2018 Hbk ISBN: 978-1-908106-58-2 250pp
2018 Pbk ISBN: 978-1-908106-59-9 250pp
This volume traces the history of banking in Central Asia and Mongolia since the last quarter of the nineteenth century. The history of banking in the regions has several distinctive characteristics including:
- Banking was originally an exogenous system introduced by Russians. Central Asia was a predominantly traditional Muslim area which was not conducive for indigenous banking systems, While Mongolia was mainly nomadic region with a small population scattered throughout the vast territory.
- Both regions experienced extreme paradigm changes from commercial banking to rigid socialist banking during the end of 1920’s and early 1930’s, and vice versa in early 1990’s. Both transitions were harsh; most banks closed mainly because of the difference in socialist and capitalist banking systems.
- The banking histories of the regions provide rare examples of parallel histories or social experiments including: Monetary and banking union of Bukhara, Khiva and Russia; the different transition paths of five former Soviet Union republics which were almost identical until 1987; perestroika banking reforms in Central Asia and in Mongolia.
- The banking sector experienced amazing rises and falls, due to extreme history, and the strong interaction and intervention of politics in banking activities.
This volume provides the first overview of the development of the banking sector in the whole region since its inception up until the present day and describes the key issues together with the historical time lines, emphasising the interdependency of political and social systems and banking development. It provides a useful source of reference for students of the economic history, regional studies (Central Asia, Russia, China and Mongolia) and for economists, bankers, researchers, historians, journalists, diplomats.
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