Getting back to the framework, the crisis period, 2008–10, clearly falls into the bottom lefthand box, reflecting unfavourable global and domestic conditions. The financial crisis, of which the tipping point was perhaps the collapse of Lehman Brothers in September 2008, was the most vivid feature of the hostile global environment, but there were several other threats that also manifested themselves in that period.
To facilitate further instant payments, the Bank has also introduced a national QR Code earlier this year. Branded as the MauCAS QR code, it is designed to be fully interoperable hence allowing the public to make payments at any merchant location.