Third, effective implementation of forward-looking initiatives requires a deep understanding of and insight into the value of developing payment and settlement infrastructure, not only by  BIS Review 155/2009  9  working-level experts but also by the senior management of financial institutions and infrastructure providers. At many firms, payment and settlement activities are usually categorized as "back-office" functions and a "cost center."
Secondly, concerns about South Africa’s ability to achieve higher and sustainable economic growth rates was also a concern for many participants in the financial markets. Thirdly, for a few months in 2000, the rand reacted adversely to political and economic developments in Zimbabwe.