The advantages of this process are: strengthening the customer’s control over information about him or her, enhancing competition in the area of financial services, comparing costs, providing financial value proposals and financial intermediation, consulting on financial conduct, initiating financial activities, and more.
Strong capital buffers are the foundation of sound banking and hence I believe that the revisions to the capital adequacy ratios will enhance public confidence in our banking system. To conclude, ladies and gentlemen, I hope that next year will see a resumption of more robust growth in the banking sector and especially in bank lending to the private sector.