And we would have rolled out the CTS long before, had we not unfortunately got ourselves embroiled in internal turf battles which almost paralysed decision-making at the Bank and led to serious operational and procurement difficulties. The Bank has a mandate to promote greater efficiency in the banking sector.
The system of payments and settlements is the backbone of any economy; it forms the arteries for conducting trade, commerce and indeed all economic activities in a country; creating the momentum for economic growth, prosperity and welfare. It is an essential feature of the modern state.