The higher level of foreign exchange reserves resulted in an increased focus on the management thereof to ensure safety, liquidity and an adequate return within conservative risk parameters. At the end of June 2006, the internally managed portfolios comprised 81 per cent of gross reserves, with the balance managed externally.
If this kind of low cost, basic payment account facility were available, the government could launch a massive programme to increase electronic disbursements of pensions, social transfers and benefits to unbanked people and could also require that labour income and any other remuneration be transferred to payment accounts.