Andrew G Haldane: Who owns a company? Speech by Mr Andrew G Haldane, Executive Director and Chief Economist of the Bank of England, at the University of Edinburgh Corporate Finance Conference, Edinburgh, 22 May 2015. *  *  *  The views are not necessarily those of the Bank of England or the Monetary Policy Committee. I would like to thank Jeremy Franklin, Conor Macmanus, Jennifer Nemeth, Ben Norman, Peter Richardson, Orlando Fernandez Ruiz, John Sutherland, Ali Uppal and Matthew Willison for their help in preparing the text. I would also like to thank Andrew Bailey, Mark Carney, Iain de Weymarn, Sam Harrington, Alan Murray, Rhys Phillips and David Rule for their comments and contributions. Introduction This might seem like a simple question with a simple answer. At least for publically listed companies, its owners are its shareholders. It is they who claim the profits of the company, potentially in perpetuity. It is they who exercise control rights over the management of the company from whom they are distinct. And it is they whose objectives have primacy in the running of the company. This is corporate finance 101. It is the centrepiece of most corporate finance textbooks. It is the centrepiece of company law. It is the centrepiece of most public policy discussions of corporate governance. And it is a structure which, ultimately, has survived the test of time, having existed in more or less the same form for over 150 years in most advanced economies.

Zeti Akhtar Aziz: Recent initiatives to promote financial inclusion Speech by Dr Zeti Akhtar Aziz, Governor of the Central Bank of Malaysia, at the 2006 Graduation Ceremony of the Malaysian Insurance Institute, Kuala Lumpur, 19 August 2006. *  *  *  Members of the Board of the Malaysian Insurance Institute, Faculty Members, Distinguished Guests, Graduating Students, Ladies and Gentlemen. Assalamualaikum dan salam sejahtera, Saya berasa amat berbangga dan berbesar hati kerana dapat turut serta meraikan kejayaan yang dicapai oleh para graduan MII pada hari ini. Majlis ini menandakan usaha berterusan industri insurans, khususnya MII, untuk meningkatkan tahap profesionalisme kakitangan industri insurans melalui pendidikan berterusan, serta kesungguhan industri insurans untuk sentiasa mempertingkatkan tahap perkhidmatan bagi menjana perkembangan industri. Tahniah dan syabas saya ucapkan kepada saudara dan saudari. Ladies and Gentlemen, Today, we recognise the achievement of yet another group of graduands of the MII. Let me again congratulate all the 642 individuals who have successfully completed their programmes, among whom are 276 who will receive the Masters in Business Administration, Associateship and Post-Graduate Diploma qualifications while 26 will receive the certification as Chartered Financial Consultants. There are also 340 individuals who will receive their undergraduate diplomas and certificates in various insurance-related fields. I am particularly pleased to welcome the graduands from Bangladesh, India, Indonesia, the Maldives, Thailand and Vietnam. The increasing participation of candidates from abroad is a welcome development as it adds an international dimension to the MII's programmes by promoting an exchange of cross-border experiences and expertise shared in the programmes.