For instance, the Bank supports the initiative of Branchless Banking as an innovative way of growing the banking industry. Mr Chairperson, another important facet in the development of the mobile payments industry shall be the ability of the individual payments systems to interoperate and settle real time across different payment systems through shared infrastructure. This should be one of the objectives of the Zambia Payments Systems Association, and therefore urge that the Association adopts this objective as part of their medium term plan. The Bank of Zambia welcomes initiative that will bring down costs and ultimately make mobile payments services affordable to the people. Ladies and Gentlemen, the conference theme looks to the next decade in mobile banking and talks about universal mobile services, I am glad that this theme is being explored here. Our understanding of this theme is twofold: firstly, that in the next decade all adult Zambians will have access to financial services and secondly that financial services shall be available to the majority of our people through this delivery mechanism. This is indeed an ambitious target and can only be achieved through forums like this one where industry experts come together to share ideas and chart the way forward. As the regulator the Bank shall continue to provide policy guidance and regulations that are clear and unambiguous in support of the  2  BIS central bankers’ speeches  growth of this industry. Further, our obligations extend to ensuring that as these technological advancements occur: 1. The consumer remains protected;  2.
This has increased my confidence that the economy remains on track for moderate growth going forward. At the same time, recent price data reaffirm that inflationary pressures remain muted. Conclusion Looking ahead, although the baseline forecast I laid out looks very good, the situation can change. We need to remain vigilant in responding to evolving economic conditions and the outlook, with our eye on sustaining the expansion, keeping the labor market strong, and fostering price stability. Thank you. I look forward to your questions. 2/2  BIS central bankers' speeches