But with a 73% share of transactions, cash is not on the way out, at least not in Germany.3 Nevertheless, the changing shape of the payments and settlement landscape raises questions that go to the very heart of a central bank’s core functions.
Ladies and Gentlemen, once the Act is fully implemented, it will promote an orderly growth and development of a sound and stable microfinance industry. The regime will also embrace microfinance industry corporate governance, accountability and transparency, performance standards and benchmarking, deposit protection, efficiency and effectiveness, among others.