finance ministers and central bank governors ( afmgm ) have unanimously agreed that financial inclusion should be a policy priority for asean. the working committee on financial inclusion, or wc - finc established in april 2016 to carry this mandate forward, has in turn, laid out clear goals to support and accelerate regional initiatives to elevate the level of financial inclusion in asean. wc - finc aims to reduce the average financial exclusion level in asean to 30 % by 2025, and increase the level of infrastructure readiness in asean to 85 % ( currently at 70 % ), based on agreed measures of financial inclusion outcomes and preconditions. particular emphasis is given to capacity building and peer learning. an especially interesting part of this journey has been asean ’ s incredible diversity which provides a rich and broad canvass for drawing lessons from every country on specific challenges faced and measures pursued to increase financial inclusion. for some of us, the geographic barriers to financial inclusion are the most urgent, for 1 / 3 bis central bankers'speeches others, cost or knowledge and trust are more significant barriers. in different ways, we all have something to learn from each other ’ s experience on strategies that worked or did not work so well. this is why we are here today. this forum on financial inclusion was organised in response to technical assistance requests and learning needs of asean countries based on a survey conducted by wc - finc last year. there was particular interest in malaysia ’ s experience and so we volunteered to host this first forum, but clearly, we are also eager to learn from others. the forum focuses on 5 key areas which represent core pillars of a holistic financial inclusion system. the first is the development of a national financial inclusion strategy and monitoring mechanism which are crucial to ensure that strategies are well targeted, coordinated and executed. the second is strengthening of institutions that support the implementation of financial inclusion strategies such as development financial institutions and credit guarantee corporations. third is the importance of having a national focus on sme financing and development as a key enabler for inclusive growth. the fourth area focuses on the role of digital financial services, including fintech and big data, in elevating financial inclusion. and lastly, the forum will turn to the importance of financial education and consumer protection in increasing the responsible take up of financial services and building trust. beyond these practical areas, there is also much to be gained from engaging in more strategic discussions on how financial integration itself can impact the inclusion agenda. more specifically, if we can better

inclusive culture and practices. this is about creating an inclusive culture where all employees feel welcome, respected, and valued. this involves fostering an environment where individuals can bring their whole selves to work without fear of judgment, discrimination or bias. focus should be spent on implementing inclusive 1 / 4 bis - central bankers'speeches practices in recruitment, promotions, training, and leadership development to ensure that opportunities are accessible to all employees. inclusive practices also encompass the use of inclusive language, respectful behaviour, and support for diverse perspectives. for boards, dei contributes toward enhancing board effectiveness. diverse boards, with a wealth of individual and collective knowledge and experiences, are better equipped to make well - informed decisions. this diversity enables a broader range of ideas, reduce blind spots and challenge groupthink, thus fostering innovation and adaptability. inclusive board cultures promote open dialogue and active participation, resulting in a more comprehensive understanding of issues and more effective problemsolving. having leaders from under - represented groups also sends a positive message to wider stakeholders that their voices and concerns are heard. ladies and gentlemen, allow me to share some of bank negara's efforts in advocating for diversity, equity and inclusion, and offer several suggestions on how members of the board can drive dei agenda. all these are aligned with the oversight responsibility of the board in promoting sustainable growth and financial soundness of financial institutions, and the board's duty to consider the long - term implications of its decisions on all stakeholders including the general public. to start off with, the bnm board has set a clear " tone from the top " for the bank to develop diverse, equitable and inclusive work practices, culture, and environment. this has translated into the bank's core aim, one of which, is to ensure that we have a strong culture and an engaged workforce that keeps us effective as an organisation in delivering our mandates. having four generations collaborate in an inclusive environment fosters a rich exchange of perspectives that helps the bank deal with complex issues in an evolving global landscape. as an example of dei action, encouraging women participation in the labour force has been a long - standing priority of the bank. in 2010, we invested in building a childcare facility, located near our head office, for mothers and parents to have peace of mind knowing that as they work, their children are well cared. flexible working arrangement is also in place and further enhanced by a policy allowing staff to work remotely twice a week. these flexibilities facilitate a working