A brief response to Bright Simons

Bright Simons spent precious time out of his busy schedule to respond to my article, which sought to bring clarity on his earlier take on the Exposure Draft on Non-Interest Banking released by the Bank of Ghana. In his response, Bright Simons dwelled on a point I had made, which he duly quoted in his response. To provide a context for my response, I would like to quote my earlier statement on which Bright dwelt. “Indeed, central banks in secular countries do not have to change banking laws to accommodate non-interest banking. I did not just make this statement in vain; I supported it with another statement: “The Bank of England did not have to change the banking laws.