FINANCIAL STRUCTURE
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by one and the latter increased by 13 during the year. In addition, 10 representative offices of foreign banks were given approval to open during the year, making a total of 21 at the end of the year. Fifty-one of the licensed banks are officially authorised to deal in foreign exchange. Together with the unauthorised banks, they have branches and correspondents throughout the world and offer a comprehensive banking service of the highest order.
Monthly bank clearings during the year averaged $8,027 million. The tables at Appendix XIV illustrate the growth of the banking system over the past 14 years.
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