Reforms in South Asia, 2007-08
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Afghanistan
In Afghanistan no major reforms were recorded.Bangladesh
Bangladesh cut the time needed to register property by almost half, from 425 days to 245, through reforms at the Municipal Deed Registry Office. Starting a business has also become easier. Bangladesh made involving lawyers in company registration optional. That eliminated one procedure and reduced the cost by $100.Areas of Reform: Starting a Business, Registering Property
Bhutan
Bhutan made it easier to enforce contracts by creating a Land Commission to handle cases involving the transfer of property. Because a large number of land disputes had been ending up in court, setting up the new commission took about 30 percent of all cases out of the district courts. As a result, the total time required to enforce a contract through the courts fell from 275 days to 225.Areas of Reform: Enforcing Contracts
India
India implemented electronic data interchange (EDI), allowing exporters to submit documents to customs online. The EDI system also enables customs to automatically assess export documents, making customs clearance more efficient. The new system reduced the time needed to export by 1 day.Areas of Reform: Trading across Borders
Maldives
In Maldives no major reforms were recorded.Nepal
In Nepal no major reforms were recorded.Pakistan
In Pakistan no major reforms were recorded.Sri Lanka
Sri Lanka, the top regional reformer, strengthened the legal rights of creditors by enforcing the new Companies Act. When a company goes into liquidation, the claims of its secured creditors are no longer frozen. Secured creditors now have the right during liquidation to seize or attach their collateral or appoint a receiver. Sri Lanka also implemented an online system for uploading credit information. Now the Credit Information Bureau (CRIB) can collect data on all loans extended by its members. The minimum threshold for the loans recorded was eliminated and data can be maintained over a longer period.Areas of Reform: Getting Credit