The Asian Clearing Union is also exploring a scheme of using domestic currencies for settlement. An 9  arrangement, bilateral or among trading blocs, which offers importers of each country the choice to pay in domestic currency is likely to be favoured by all countries, and therefore, is worth exploring. 16.
While academics are often on the boards or committees of central banks, it is not uncommon for the Governors to be drawn from the academia – the current well known examples, to mention a few, are Professors Ben Bernanke in USA; Mervin King in UK, Axel Weber in Germany, Stanley Fischer in Israel and, of course, Professor Bheenick in Mauritius.