Therefore, finding the right balance between facilitating innovation and ensuring financial stability and consumer protection is of essential importance, but also an inherently difficult task. The issues raised by innovation in financial services have become priorities at the global level.
There are several dimensions of the regime for cross border transactions: but what we shall be concerned with in this discussion is that relating to exchange control or rather foreign exchange management. The foreign exchange management policy ultimately hinges on two factors: the quantity of foreign exchange available and the exchange rate.