The South African banking industry needs an Institute of Bankers to protect its depositors and its young from Nelly – the mentor; and from young people who are bright, keen and energetic but prone to improvisation when bored and unrestrained.
Such monitoring will also provide a more complete picture of the response of the private sector to the increased volatility in financial markets. A broad assessment of underlying trends in money and credit growth is particularly important at present given recent financial market developments.