Most recently, a pilot “blended financing” programme has been introduced to enable micro-entrepreneurs in the low income group generate more sustainable income from viable business activities. The provision of zakat funds as initial capital is complemented by affordable microfinancing arrangement for working capital and a customised training programme to enhance business productivity. Participants of the programme also receive 12 months of business mentoring with impact-based monitoring implemented to monitor the effectiveness of the programme. The pandemic has been a test of resilience for nations around the world. This test also presents many opportunities for the global Islamic finance community to accelerate the progress of sustainable and inclusive finance towards achieving shared prosperity, sustainability and inclusive growth. The launch of the two reports on Islamic fintech and Islamic finance for financial inclusions should be seen as a call for collective action – each one of us has a part to play in 3/4  BIS central bankers' speeches  creating a more sustainable and equitable financial system. I look forward to the discussion on this important topic over the course of today. On this note, I wish to thank the World Bank Group for this invitation and I wish all of you a productive week. 1 John Hopkins University of Medicine, Coronavirus Resource Center (data as at 29 September 2020). 2 The 2017 Global Findex database is the world’s most comprehensive data set on how adults in more than 140  economies access accounts, make payments, save, borrow and manage risks.

Globally, we have seen a silver lining in the response to the pandemic. In Malaysia, the nation has rallied closer together to become more socially conscious not just in aspects of public health and welfare, but also in supporting the local economy. The Islamic financial institutions in Malaysia, in particular, have risen to the call to generate more positive impact through the “Value-based Intermediation” (VBI) agenda. Participating Islamic financial institutions have endeavoured to refine their products and services offerings in response to the need of their customers. Eight Islamic banking institutions (half the total number of Islamic banks in Malaysia) are offering microfinancing facility, utilising the Micro Enterprise Facility established by the Bank to increase access to finance for microenterprises with viable business. In terms of financial protection, more than 50,000 participants have benefitted from various microtakaful products that provide affordable or free protection for the hard core poor and individuals with special needs. Islamic financial institutions also continue to steward efforts towards building a greener financial system. In August 2020, the VBI Community of Practitioners in collaboration with the Bank issued three Sectoral Guides on energy efficiency, renewable energy and palm oil for public consultation. The documents are intended to provide detailed guidance to the industry in embedding environmental, social and governance (ESG) risk considerations in their financing and investment decision making process. Aligning corporate values with the objectives of promoting shared prosperity and sustainable growth is a critical first step to elevate the role of finance towards achieving inclusive growth.