The Governor of the South African Reserve Bank, Dr C.L. Stals, was honoured this week when King Albert II of Belgium presented him with a special award. The award, known as "Grand Officer in the Order of the Crown", was presented to Dr Stals on Wednesday, 13 May 1998, at a special function at the National Bank of Belgium by the Prime Minister of Belgium, Mr J.L. De Haene, on behalf of the Kingdom of Belgium. It is understood that this is the highest honorary award that Belgium presents to persons in the private sector outside of Belgium.The award was presented to Dr Stals for:the contribution that he has made to the maintenance of financial stability in South Africa; andthe role that he has played over a long period to promote good relationships between the South African Reserve Bank and the National Bank of Belgium as well as the private banking sector in Belgium.Dr Stals also appeared as a guest speaker at the occasion of a meeting of Governors of Central Banks which was held at the Bank for International Settlements in Basle, Switzerland, on Monday, 11 May 1998.  ​