First, what are the externalities that require or demand that global standards are set for the policies that affect financial institutions? What is the likelihood and risk of a country’s financial inclusion policy influencing other countries? In other words, is there enough justification for considering or recommending global standards in regard to financial inclusion?
Even under the Governorships of my predecessors, the path of central banking has never been static… We evolve and adapt innovative ways of preserving financial stability as we deal with inter-related transactions, regionalization, globalization, the growing sophistication of interconnected markets, and developing technology.