11.   President Nelson Mandela, who received the report last week, said his government was committed to effective supervision of the arms industry and trade.

12.   Tay attributed the success of the local banking industry to an effective supervision and regulatory framework provided by Bank Negara Malaysia.

13.   The groups stressed the importance of prudential regulations and effective supervision of the capital market.

14.   This is however a well nigh impossible task as effective supervision in terms of manpower is too costly.

15.   This is one of the three pillars for maintaining sound banks, the other two being effective official supervision and internal bank governance.