the opening of this maybank branch, marks another milestone in the relationship between myanmar and malaysia. the granting of a banking license to maybank provides malaysia with yet another avenue to participate and contribute towards the economic development of myanmar. being a responsible corporate citizen it is in the interest of financial institutions to be a responsible corporate citizen and contribute to the flourishing and wellbeing of society. financial institutions must adapt to their domestic environment and be mindful of the needs of the community in which they operate in. access to financial services for all segments of society is important for inclusive and sustainable growth for an economy. the low and moderate income households must be served as they represent the future. there are at least two dimensions to being a responsible corporate citizen. the first dimension is to design and grow business responsibly, by providing ethical and sustainable financial products and services to all segments of society. part of this essential component is promoting greater levels of financial literacy and understanding of financial products among the local community. banks need to strive to deliver the highest standards of service to all. the second dimension is the act itself of giving back to the community. on this note, i am encouraged to hear that maybank ’ s yangon office is already driving initiatives for the local community, through its project h. e. a. r. t ( helping every asian rise together ). therefore, judging by maybank ’ s by - line, with its stated aim of “ humanising financial services ”, i am confident maybank will show a stellar example in making a difference in myanmar. i also expect that as a good corporate citizen, maybank will contribute to the development of the domestic financial sector, as over the long term and given the opportunity, they can meet the overall financial services needs of the low and moderate income households. i should also expect a meaningful participation and contribution of maybank in myanmar ’ s interbank and foreign exchange markets as well as the payment system. conclusion as we speak, myanmar is undergoing a profound shift. it stands at the cusp of something great. during this historic time, it gives us a great honour that malaysia is actively involved and contributing to myanmar ’ s transformation. for we consider myanmar not only a partner, but a close friend. bis central bankers ’ speeches with this, i wish myanmar all the success in her future endeavours. congratulations to maybank again for the start of a new chapter in what i trust will be an enduring and productive presence in this great country.

muhammad bin ibrahim : asean financial integration, collaboration with myanmar and other challenges for malaysia speech by mr muhammad bin ibrahim, deputy governor of the central bank of malaysia ( bank negara malaysia ), at the maybank myanmar grand opening, yangon, myanmar, 2 october 2015. * * * a very good evening, it is an auspicious occasion. congratulations to maybank on the opening of its branch in yangon, myanmar. i am very confident that the launching of this first branch marks the beginning of a productive, innovative and meaningful journey for maybank in contributing to the economic transformation of myanmar and in particular the development of its financial sector. i am confident that this branch will be the first of many to come. my remarks today will touch on three subjects : firstly, the importance of asean financial integration ; secondly, the close and long - standing friendship between myanmar and malaysia ; and the role of financial institution as a responsible corporate citizen. asean : story of the future that begins today members of asean have adopted an ambitious, unique and comprehensive vision for an economically and financially integrated region. i term it as unique since we are embarking on this process in a phased and gradual manner. each member country is given the flexibility to progress towards integration based on its state of readiness. it is an inclusive approach and a long term strategic plan to unlock the growth potential of our region in the coming decades. the case for integration is self - evident. from its inception, malaysia ’ s and its founding members ’ vision have always been for a strong and integrated asean region. the “ asean way ” believes there is strength in diversity and no country should be left behind. asean strongly believes in the concept of shared prosperity, where wealth creation within the region will be enjoyed by all. the spirit of cooperation and flexibility are amongst the principles which underpinned the success of myanmar ’ s chairmanship of asean in 2014. under myanmar ’ s leadership, we saw major strides in financial integration that culminated in the conclusion of the asean banking integration framework ( abif ) by the asean central bank governors. a framework of gargantuan achievement. myanmar ’ s leadership in seeing this through was crucial and now abif represents the single most important agreement in strengthening the asean banking system, driving deeper integration and enhancing the region ’ s growth potential. it is an agreement of momentous significance. i would also like to congratulate myanmar for successfully advancing the yangon outcomes for financial inclusion during their tenure as chair in 2014.