The target areas would be development of micro, small and medium enterprises, rural banking and promoting financial literacy. The RBF, with these institutions and other development partners, will work on reviewing and tailoring the regulatory framework to provide further impetus for growth of microfinance services.
In our view, enhancing the role of public authorities in this process is conducive towards achieving that BIS central bankers’ speeches  1  goal, and would, through an increased interaction between standard setters and regulators, contribute to taking financial stability considerations into account in a more pronounced way in accounting standard-setting.