I believe that fostering a competitive environment is critically important for all portions of the retail payments system, including those in which the Federal Reserve is a participant. Indeed, the effectiveness of the U.S. retail payments systems can be credited largely to the competitive marketplace in which payments are provided.
R Basant Roi: Bank of Mauritius’ new headquarters Address by Mr R Basant Roi, Governor of the Bank of Mauritius, at the inauguration of the New Headquarters Building of the Bank of Mauritius, Port Louis, 18 December 2006. *  *  *  Dr. The Hon.