Zeti Akhtar Aziz: Bank Negara Malaysia LINK
Speech by Dr Zeti Akhtar Aziz, Governor of the Central Bank of Malaysia, at the launch of Bank
Negara Malaysia LINK, Kuala Lumpur, 25 February 2005.
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Yang Amat Berhormat Dato' Seri Abdullah Ahmad Badawi, Perdana Menteri Malaysia dan Menteri
Kewangan Malaysia,
Tetamu-tetamu Kehormat,
Tuan-tuan dan Puan-puan,
The Central Bank engaging with the public is what Bank Negara Malaysia LINK is about. It is my great
pleasure and honour to welcome you to the official launch of the Bank Negara Malaysia Laman
Informasi Nasihat dan Khidmat or the Bank Negara Malaysia LINK.
The Bank Negara Malaysia LINK aims to enhance the effectiveness of Bank Negara Malaysia's
interface with the public. Bank Negara Malaysia LINK is established as a centralised point of contact
with the public on issues that relate to our operations, our policies, the financial sector and consumer
education in the area of finance. We believe this continuous engagement with the public will not only
enhance awareness, understanding and appreciation of the issues at hand but also contribute to
facilitating the efficient functioning of the financial system and ensure the effectiveness of policy. Bank
Negara Malaysia LINK will also centralise all interface with the SMEs on issues that relate to matters
on access to financing and thereby contribute towards enhancing their value added to the economy.
Tuan-tuan dan Puan-puan,
Kami amat berbesar hati dengan kesudian Yang Amat Berhormat Dato' Seri Abdullah Ahmad Badawi
untuk melancarkan Laman Informasi Nasihat dan Khidmat Bank Negara Malaysia atau Bank Negara
Malaysia LINK pada hari ini. Kami mengambil kesempatan dari kehadiran Yang Amat Berhormat Dato'
Seri di taklimat ekonomi di Bank Negara Malaysia pada pagi ini untuk merasmikan Bank Negara
Malaysia LINK. Penubuhan Bank Negara Malaysia LINK merupakan komitmen Bank Negara Malaysia
untuk meningkatkan lagi perkhidmatan yang diberikan kepada orang ramai dan membantu
meningkatkan akses pembiayaan kepada perusahaan kecil dan sederhana. Perasmian ini amat
bermakna kerana Yang Amat Berhormat Perdana Menteri merupakan peneraju kepada peningkatan
sistem penyampaian sektor awam. Yang Amat Berhormat Dato' Seri juga telah memainkan peranan
penting dalam usaha meningkatkan potensi perusahaan kecil dan sederhana sebagai enjin
pertumbuhan ekonomi negara kita.
Ladies and Gentlemen,
Bank Negara Malaysia has always been in direct contact with the public. The Central Bank receives
walk-in members of the public seeking information in relation to our operations, policies and
regulations as well as those who seek redress on financial issues. The SME Unit in Bank Negara
Malaysia also has direct contact with the SMEs relating to issues of access to financing. The
establishment of Bank Negara Malaysia LINK is to allow the interface with members of the public as
well as the SMEs to be centralised and conducted in a more efficient and effective manner.
The premises of the Bank Negara Malaysia LINK was previously the Kuala Lumpur branch of Bank
Negara Malaysia. The Kuala Lumpur branch used to provide retail banking services to the
Government as part of our role as banker to the Government. This role has now been transferred to
banking institutions. It was also where currency was processed. This has also now been outsourced to
MEPS Currency Management Sdn. Bhd. The branch premises is therefore now being transformed to a
centralised service centre.
Ladies and Gentlemen,
Bank Negara Malaysia LINK will also provide support to the Bank's SME Special Unit in a number of
areas associated with access to financing. The SME Special Unit was established within Bank Negara
Malaysia almost two years ago. Initially, the functions of the SME Special Unit was to provide
information on the various sources of financing available to the SMEs; facilitate the loan application
process; and to provide advisory services relating to the financial requirements of SMEs. The role has
subsequently been enhanced to monitor, coordinate and evaluate SME financing across all sectors, to
review policies to enhance access to financing and coordinate the implementation of all SME financing
policies. In addition, the SME Special Unit also acts as the Secretariat to the Small Debt Resolution
Committee, which facilitates the restructuring of non-performing loans (NPLs) of SMEs with on-going
businesses. The SME facilities available at Bank Negara Malaysia LINK will greatly increase the
outreach capabilities of the SME Special Unit.
Ladies and Gentlemen,
As the financial system becomes more developed and sophisticated, there needs to be increased
financial literacy. As part of our Financial Sector Master Plan, we have implemented a 10-year
programme to increase consumers' financial literacy. We are now in the third year of the programme.
The effective participation by the public in the financial system needs to be an informed participation.
There needs to be better understanding of the consumer's financial rights and responsibilities, the
opportunities and the associated risks and costs.
Bank Negara Malaysia LINK through its exhibitions, interactive information kiosks and booklets, will
serve as a channel to provide consumer financial education to the public. In this connection, Bank
Negara Malaysia LINK will provide information relating to conventional and Islamic banking, insurance
and takaful, SMEs, foreign exchange administration, Central Credit Reference Information System
(CCRIS), Biro Maklumat Cek, development financial institutions, and other financing related matters.
Bank Negara Malaysia LINK would also attend to public complaints on the above matters. As part of
efforts to preserve the history on Bank Negara Malaysia's role in nation building, Bank Negara
Malaysia LINK also includes a section on the Bank's contribution in shaping the country's economy
and financial sector since the 1950s.
Ladies and Gentlemen,
The establishment of Bank Negara Malaysia LINK takes the Central Bank's public outreach
programme to a higher level. By providing a centralised platform for the public to seek information and
address financial issues, it is our hope that Bank Negara Malaysia LINK will be instrumental in building
bridges between consumers, including SMEs, the financial business community, consumer
associations and policymakers. We believe in the importance of this outreach effort not only because
the public has a right to an informed participation in their financial dealings, but also because it is also
an important part of our collective and combined efforts that will determine the success of our
endeavours.
Tuan-Tuan dan Puan-puan,
Akhir sekali, saya ingin mengucapkan berbanyak-banyak terima kasih kepada Yang Amat Berhormat
Perdana Menteri atas kesudian beliau melancarkan Bank Negara Malaysia LINK.
Sekian, terima kasih.