According to an as-yet-unpublished European Central Bank survey of 65,000 eurozone residents, almost 80% of all point-of-sale transactions are conducted in cash; and, in terms of value, more than half of payments are made in cash. As is often the case in Europe, the differences among member states are pronounced: the share of cash transactions ranges from 42% in Finland to 92% in Malta.
They look to Korea as a country that transformed itself from ‘The Land of Morning Calm’ to a dynamic industrial nation, now the world’s 12th largest economy in GDP terms. In this context, I believe, Nepal Rastra Bank has invited specialists from the Financial Supervisory Commission and the Korean Asset Management Corporation and myself to today’s workshop.