Under the Malswitch Model, Malawi has managed to link up all the commercial banks and other major players in the financial system in a single network infrastructure providing a number of products including the following: Smart Card The smart card is intended to reduce cash usage.
An external supervisory agency for banking supervision in the zone, the West African Financial Supervisory Authority (WAFSA), would be established as well as a deposit insurance scheme. (iv)  technical issues relating to the currency operations in the zone are being worked out by WAMI, in collaboration with Technical Experts from member central banks.