My sincere appreciation also goes to Mr Yandraduth Googoolye, First Deputy Governor, for his unflinching support during very difficult times. I extend a warm welcome to Mr Iqbal Belath, the new Second Deputy Governor, who assumed office in July this year.
The stakes are probably higher in small, open, developing economies. On the one hand, they may enjoy more potential benefits in the form of cheaper and faster payments, in particular for cross-border payments and remittances, and more financial inclusion.