In the same token, Ladies and Gentlemen, as efforts progress towards a more developed financial sector, there is need to ensure existence of adequate disclosure of information by providers of financial services, efficient dispute resolution mechanisms, comparability of  2  BIS central bankers’ speeches  offers and data protection.
As financial institutions embrace innovations, there is need to ensure that innovations have adequate consumer protection legislation. It is therefore encouraging to note that the constitution promulgated last year makes provisions for consumer protection. The constitution creates adequate space to build strong institutions to implement these provisions which will define appropriate incentives and rules of the game to encourage prudent behavior in the market.