Following discussions with data producing agencies, and responses from data users, the mission has developed a set of recommendations designed to increase our adherence to internationally accepted statistical practices and enhance the analytical usefulness of produced statistics. The Bank intends to implement these recommendations early next year.
One area where progress has been limited during the year relates to the designation of an Officer to be the Ombudsman for banks, as provided by Section 96 of the Banking Act 2004. According to the Act, one of the functions of the Ombudsman would be to deal with complaints against financial institutions by their customers.