Derivatives have become an indispensable part of a modern financial system and will so remain so long as uncertainties will have to be provided for. In the context of new capital standards being introduced currently for banks, credit derivatives are seen as risk mitigating factors against portfolio risk to the extent they serve to lower capital charges of banks.
A sector wide blanket check on the AML/CFT efforts of financial institutions was completed in 2006. All findings have been shared with financial institutions under inspection by means of reports, circulars and a seminar held in April 2007. The effort is still on going.