In order to rise to the challenge, we need to add to our competitive strengths in several dimensions, by addressing new markets, developing new products and refreshing old products, and by increasing the level of efficiency in the delivery of support services. Furthermore, we need to develop additional expertise, which is why we are here today.
We need a richer pool of talent from which prospective investors in our IBFS sector may draw, in the fields of law and finance. A few of your colleagues have pioneered in the provision of legal services in our international business centre, and they are with us today, to share some  BIS central bankers’ speeches  1  of their expertise.