This forum, which was held on the eve of global turmoil outburst, indicated that the Albanian banking system had significantly increased its resilience. It addressed important matters related to: •  Transparency and customer services,  •  Risks related to foreign currency credit and consumer credit, as well as  •  Interbank market functions and monetary policy transmission in the economy. Today’s forum takes place in an important moment of the banking and financial system. After a hard year, it seems that the situation is becoming eventually normal. Therefore, I am confident that, figuratively, the third forum will have the consolidation of public confidence in the Albanian banking system as the main motif. Achievements in this regard are not lacking. Statistics show that deposit level is approaching steadily to its prior-crisis level, while ALL credit livening-up is continuing. Dear participants, Today’s meeting is held after some important financial and economic events dictated by the global crisis. Now that the situation has cleared up and has entered into an improvement stage, a thorough analysis is being made about its causes, about public authorities’ reaction and about actions to be taken, in order to raise the global financial system’s resilience. Now, allow me to deal briefly with the main features of this unmatched crisis, and then continue with some arguments on the functioning of the Albanian financial system and some necessary regulations for its further perfection.

Therefore, besides greater financial integration, the other two key pillars of the financial Blueprint relate to collaboration to promote financial inclusion and financial stability within ASEAN. ASEAN financial integration also promotes a gradual and prudent liberalisation of the capital account and it recognises the right of countries to take temporary capital flow management measures should these flows threaten to undermine stability. There is also ongoing work to strengthen regional surveillance arrangements, regional financial safety nets, and the regional crisis management and resolution framework. Therefore, while recognising the benefits of financial integration, there is also awareness of the risks, and this has led to a cautious but progressive approach that we hope would ensure that financial integration indeed contributes to sustainable growth of the ASEAN economies. 2  BIS central bankers’ speeches  Conclusion I will conclude with my view of the role of integration for Malaysia. Since the financial crisis, Malaysia’s growth has become more dependent on domestic demand and less dependent on external demand. While the resilience of domestic demand in the challenging environment is a noteworthy achievement, the reduced contribution of the external sector has clearly pushed Malaysia on to a lower growth trajectory. Since 2007, the contribution of net exports to real GDP growth has been negative with the sole exception of 2014. Over the longer term, the contribution of the external sector will need to expand to support a healthy and sustainable economy. Therefore, for Malaysia, economic integration and strengthening our economic ties with other countries is a necessity.