NAIROBI, Oct. 24 (Xinhua) -- Kenya is the third most advanced financial market in Africa, a new survey has shown.

According to the second edition of the Absa Africa Financial Markets Index, Kenya's financial market standing has improved two positions compared to last year largely due to ease of foreign exchange access.

The survey by the Official Monetary and Financial Institutions Forum was commissioned by Absa Group in 2017 and examined 20 African markets.

The survey indicates that Kenya has demonstrated its maturity as a market through the ability to enforce financial agreements, clarity on property rights and compatibility with international standards.

The survey shows that the areas of improvement for the East African nation include limited product diversity, relatively low pension assets per capita as well as declining export market share.