As a Supervisory Authority, the Reserve Bank will endeavour to level the playing field for all market players and ensure that everyone is playing by the rule i.e. within the framework of the law and RBM regulations. It is our intention to promote fairness, soundness and stability in the market and this we will do.
Perhaps the only set back currently is the insurance law. As you are aware, the Act is very old having been enacted in 1957. Certainly it has been overtaken by events to the extent that its administration is almost ineffective in most aspects. We, however, are hopeful that the Insurance Bill which is pending tabling in Parliament will address this challenge.