The third school focuses on the importance of proper sequencing of liberalisation of capital account with other policies. The fourth school elaborates on issues relating to management of capital account and takes a more nuanced approach to it.
With the advancements in information technology, centralisation of some operational processes is being embraced globally based on the resultant cost savings as along as adequate risk mitigating measures are assured. In this regard, I urge regulators in the Eastern Africa region to always embrace a developmental mindset as they consider proposals by market players.