But this endeavor is incomplete without the FEDAI also undertaking a similar assessment of its guidelines with a view to identifying and removing any frictions or impediments that hinder the fulfilment of regulatory objectives or impede efficient operations of foreign exchange markets.
As we approach our 50th birthday in 2022, we know that the changing economic and financial landscape at home and abroad will transform the face of central banking. This transformation includes the evolution of digital currencies, further liberalization of our exchange controls, strengthened regional integration, digital transformation, the emergence of new industries, local and international challenges, and different societal norms.