However, despite improved technology and high prices, proved reserves in the developed countries are being depleted because additions to these reserves have not kept pace with production. *** The production, demand, and price outlook for oil beyond the current market turbulence will doubtless continue to reflect longer-term concerns. Much will depend on the response of demand to price over the longer run.
The Bank has also been instrumental in the drafting of the list of indicators that must be used by the supervised institutions to identify and report unusual transactions to the Financial Intelligence Unit (MOT). Our commitment to deter and detect money laundering and terrorist financing amongst supervised institutions, has also been recognized and highlighted by the IMF.