It is almost impossible for those who are not undertaking full-time studies on the subject to keep pace with these developments. Yet, all of us who are interested in systems that stimulate business and keep the wheels of economies moving at a rapid space, would continue to have a strong interest in the subject. I am also hopeful that, the banking and financial community will continue to promote and foster these studies and practices since these provide the lubrication for the smooth functioning of our complicated financial systems in our ever-changing corporate regimes. We also know that a large portion of global business is in the banking sector. In addition, all business entities, maintain direct relationships with banks and financial institutions. In that context, the preeminent position that is applicable to the banks and enjoyed by them cannot be over-emphasized or under-estimated. Therefore, our efforts to enhance the governance capabilities and capacities within banks and financial institutions have to be at the forefront of our agendas. The trend in the world of targeting governance practices in the banking and financial sector to be at the cutting edge of prevailing practices worldwide is a significant step in the right direction and should continue to be so in the future as well. Let us therefore together and collectively dedicate ourselves to promote and apply good Corporate Governance principles and practices in our respective banking and financial sectors.
Nevertheless, in our collective endeavour to pump the patient with as many drugs and tests  BIS Review 24/2007  1  we could possibly administer (may be because we could avoid law suits relating to professional negligence by doing so! ), a plethora of new rules and regulations have been churned out and these keep being churned out at regular intervals. But, with all that frenzied activity, the vexed question that keeps on haunting stakeholders is: Will today’s regulations suffice to inoculate companies from crises in the future and keep them healthy? Will these rules help to maintain and sustain investors’ trust in companies? Will these laws and regulations help to stimulate institutions instead of stifling them? Will these efforts actually build trust and confidence in the overall system? Of course, we have to readily admit that if not for the quick responses in the aftermath of Enron and others, the damage could have been too much to bear. The repercussions and loss of confidence could have been too serious to contemplate. But, at the same time, a painful truth has also emerged. i.e., that laws, rules, regulations and Codes, by themselves do not ensure good corporate behavior. However powerful and strong the new vaccines appear to be, however effective the treatment seems to be, however professional and keen the doctor tries to be, new diseases will emerge. Some may be minor. But, ever so often, new strains will occur, that will place the system under severe threat.