Conclusion As part of financial sector reforms, a number of steps have been taken to enhance the effectiveness of monetary policy, and these include, improvement in the payments and settlement systems, development of secondary market in government securities with a diversification of investor base, BIS Review 62/1999  4  reduction in non-performing assets, introduction of ALM guidelines, and reduction in the overall transactions costs.
Among these measures, the Bank discussed at the Monetary Policy Meeting held in December 2021 the treatment of the Special Program, which was set to expire at the end of March 2022. It decided to extend by six months fund-provisioning to small and medium-sized firms, or SMEs, until the end of September 2022, while completing the financing support for large firms as scheduled.