So today, I simply want to open the exploration of some these conceptual issues, and then offer some specific suggestions—by no means comprehensive—on some obvious and immediate ways that supervision can become more transparent, efficient, and effective. The Importance of Transparency Let me begin by delving a little more deeply into the distinction between regulation and supervision and the process applicable to both.
I look forward to your usual contribution and commitment in this respect. Over the years, we have seen various action plans being generated at meetings held for the development of microfinance and SMEs. Most of these plans have remained plans and not  BIS Review 138/2009  1  actioned.