Banking Law and Financial Regulation in Pakistan: The Role of Lender of Last Resort

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Muhammad Hassan Idrees

Banking Law and Financial Regulation in Pakistan

The Role of Lender of Last Resort

Muhammad Hassan Idrees

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English

Routledge
04 April 2024

Systems of law; Company law; Banking law

This book offers an analysis of the contemporary significance of the practice of Lender of Last Resort (LOLR) in Pakistan. Aiming to identify deficiencies in current financial system legislation, the book details the role of LOLR and its essential presence in establishing a resilient banking and financial system.

Beginning with an assessment of the emergence of Central Banks as domestic financial regulators, the book draws from the principles of Walter Bagehot and Henry Thornton for LOLR rescue operations. Examining the International Monetary Fund’s (IMF) role as an international lender of last resort and scrutinising its rescue efforts, the book uses case studies of the Central Banks in the United Kingdom and the United States to suggest reforms for Pakistan’s system. It explores the causes of financial crises and evaluates the factors that have made LOLR an integral part of Central Banks’ responsibilities. It compares LOLR operations in the cases of AIG and Lehman Brothers in the United States and Northern Rock in the United Kingdom, comparing these two cases in Pakistan to pinpoint key gaps in the State Bank of Pakistan’s LOLR operations. Furthermore, it discusses the Basel Accord I, II, and III: the key international regulations for the banking sector.

The book will be of interest to scholars and students in the field of financial and banking law.

By: Muhammad Hassan Idrees
Imprint: Routledge
Country of Publication: United Kingdom
Dimensions: Height: 216mm, Width: 138mm,
Weight: 390g
ISBN: 9781032741307
ISBN 10: 1032741309
Pages: 114
Publication Date: 04 April 2024
Audience: College/higher education , Primary
Format: Hardback
Publisher's Status: Active

Preface vii Acknowledgements viii 1 Introduction 1 2 Conceptual Underpinning of the Lender of Last Resort 8 3 Banking Regime of Pakistan, Basel Accord and LOLR 18 4 Case Study of Pakistan 49 5 Appraisal of the Financial Systems of the UK, USA and Pakistan 57 6 Regulatory Reform Proposals and Conclusion 98 Index 111

Dr Muhammad Hassan Idrees is a dynamic legal attorney with an enthusiasm for learning contemporary legal issues. He has a profound interest in international banking and financial laws, alternative dispute resolution, civil and criminal litigation, corporate and taxation laws. He has completed a B.A.LL.B (Hons) from the University of the Punjab, Lahore, Pakistan; LL.M in International Business and Corporate Law with Distinction from the University of Bedfordshire, UK; and a PhD in Law, from Canterbury Christ Church University, UK. Hassan Idrees is also a member of the Honourable Society of Lincoln’s Inn. Currently, he is working as a legal consultant for the Federal Board of Revenue, Pakistan, and a barrister/advocate in the High Courts of Pakistan.