I would like to place on record my deep appreciation for the work accomplished by Mr Iqbal Belath, former Second Deputy Governor, who left the Bank in October 2013 at the end of his tenure. He had complemented our senior leadership line-up with unparalleled commitment. I had much pleasure serving the Bank alongside him and drawing on his steady support.
The management of forex bureaux and money transfer has also been streamlined with the enactment of the Foreign Exchange Act 2004 which abolished formerly the Exchange Control Act 1964 which was laying in abeyance. Let me take this opportunity to invite those interested in Money Transfer business to come to us for licenses.