As an illustration, the base rate is intended to serve as a benchmark for interest rates. Our past experience has been of poor customers subsidising the rich borrowers. Also, there are incidences of rampant mis-pricing of risks. From a business perspective, pricing of assets should be non-discriminatory and in line with risk rating of the customer.
Ladies and gentlemen, with the commissioning of this office, PAN will be better positioned to continue to be the co-ordinating body through which Payment System Stakeholders are able to voice their views, contribute to a mutually beneficial National Payment System and through which payment system projects can be co-ordinated.