At least two countries in the region have removed all exchange controls, and many others are in the process of gradually removing remaining controls; a work study on Information Technology (IT) develop-ments within each central bank.
The exercise involved in by South Africa to revise is national payment, clearing and settlement system provides an opportunity to plan ahead and consider ways and means of introducing compatible and inter-changeable systems in the region; a concerted approach on efforts to reduce or avoid money laundering and illegal banking activities in the region; and a major initiative to improve the quality of bank supervision and regulation in the region, and to co-ordinate policies on the licensing of banking institutions.