This is all the more necessary if you consider the dimming of business territories as another stark reality of the future. More industries and organisations would converge their services resulting in a hybrid approach towards service delivery offerings. Banking and institutions is a visible activity of this kind. Service providers have, therefore, become an extended arm of financial organisations.
But the structural transformation of the financial system through enhanced financial integration, including the creation of intensified cross-border financial links, requires that we closely monitor the financial integration process. I would finally like to emphasise that financial integration is relevant to both monetary policy and financial stability.