A new independent review has concluded that the current system for overseeing banks is inadequate and requires fundamental reform to better safeguard financial stability and protect consumers. The assessment highlights persistent weaknesses in risk management and regulatory oversight, raising concerns about the resilience of the banking sector amid evolving economic challenges. Experts involved in the review argue that existing frameworks fail to address emerging threats, including digital finance and complex financial instruments. The findings could prompt calls for stricter enforcement, greater transparency, and a more adaptive approach to bank supervision.