At this juncture, I would like to reiterate that while the Central Bank welcomes innovative products, it evaluates all such products to ensure safety and efficiency concerns are adequately addressed. The Central Bank has the necessary capacity to properly evaluate and appraise technology driven financial services to ensure they meet international standards.
Services that involve partnerships with commercial banks have to adhere to the existing prudential and statutory banking sector requirements. We will work closely with commercial banks and other service providers to increase awareness and enlarge the frontier of services. The Central Bank is also cognizant of the fact that international remittances platforms could be used as money laundering channels.