The contribution of fair value accounting to the global financial crisis has, for example, been discussed, and existing rules have been subjected to academic scrutiny and impact evaluations.5 3  Pacioli’s ‘Summa de arithmetica, geometria, proportioni et proportionalita’ is a comprehensive summary of Rennaissance mathematics. The book was written in the Italian vernacular, which meant it could be widely read.
Under Circular No. 505, we foresee, among others; the growth of bank microfinancing to benefit rural folks with greater access to formal banking services that in turn, mobilizes savings and investments. Moreover, we foresee an accelerated consolidation process in the banking industry in the next 3 years.