The recent financial crisis has challenged our understanding of the dynamics and interaction of financial intermediaries and financial markets. At the same time, South Africa has tremendous opportunities to foster sustainable growth through the deepening of our domestic financial market, enhanced integration in the international financial system and fostering competition within the financial industry. What are the key elements of a stable and efficient financial system? How can we unlock these growth potentials ahead without endangering financial stability? What is South Africa’s position in the international financial system and how can enhance competition within the financial sector? These and other questions relevant to the development of financial markets in an emerging economy will be addressed at this first Financial Economics Workshop.