*  *  *  Programme Director Chair and Directors of Lereko Ladies and Gentlemen All protocols observed The waves of the global financial crisis hit our shores as expected. The ferocity with which they hit our country was more pronounced than we could ever imagine. Fortunately, South Africa had built strong policy anchors. Nevertheless, the impact reverberated across the entire economy.
Technical sub-committees of MAC focus on the thematic areas of macroeconomic issues of convergence, bank supervision, payments systems, financial markets, information technology and capacity building. These areas are indeed the building blocks of the envisaged monetary union. Of particular interest to the banking sector is the harmonisation of regulation and supervision.