constitutes 46 % of total financing3. we are also grateful that our islamic capital market ( icm ) experienced substantial growth and remains a key component of the malaysian capital market, contributing 63 % to its total size4. 1 / 4 bis - central bankers'speeches isdb, on the other hand, stands as a beacon of progress, embodying a commitment to fostering economic development and social progress in its 57 member countries and muslims worldwide. a prominent issuer of high - quality sukuk with a broad investor base, isdb deploys the proceeds of its sukuk to fund programmes that help shape the future of islamic banking, benefiting a diverse portfolio of development projects and enriching markets. in malaysia, the isdb has made significant strides, leaving a positive and lasting footprint. in fact, bank negara malaysia ( bnm ) has long been an investor in the isdb public sukuk issuances and remains a major investor today. one particular success story is also the international islamic liquidity management corporation ( iilm ), in which both bnm and isdb played key foundational roles during its establishment alongside several other central banks. iilm facilitates cross - border liquidity management among global financial institutions through the issuance of highquality, short - term usd sukuk. today, iilm has successfully established a track record and has issued a cumulative over usd100 billion short - term tradable usd sukuk5. it is now looking at its next development phase, scaling up to meet the ever - growing demand for short - term paper in the islamic financial market. three critical impetuses to further unlock malaysia - isdb potential synergy in islamic finance in light of the success stories that we share, malaysia looks forward to further bolstering our partnership potential in islamic finance. i would like to propose three critical impetuses for this : first, strategic alignment is driven by aims to advance the ummah. identifying common priorities for the isdb and malaysia will enable us to channel resources and focus efforts more effectively. the signing of the murabahah master agreements today marks another milestone in achieving this, building upon a memorandum of understanding in 2021 between the government of malaysia and isdb to cultivate cooperation on islamic finance and related domains. it is instrumental in facilitating a deeper understanding of each other's investment preferences and risk appetites, paving the way for mutually beneficial investment linkages. another shared priority is our respective focus on green

ian plenderleith : always something normal from south africa speech by mr ian plenderleith, deputy governor of the south african reserve bank, to the association of collective investments conference, cape town, 17 august 2004. * * * it is not very often that a central banker gets to comment on his country ’ s economy in latin. as someone whose undergraduate studies were ancient greek and latin, i am delighted to seize the chance. the latin i have in mind is pliny ’ s often - quoted phrase, “ ex africa semper aliquid novi ” - always something new out of africa, by which i think pliny meant that africa could always be relied on to spring surprises, by astonishing the world with some bizarre new novelty. i want today to suggest some reasons why, if pliny were with us now looking back on the remarkable progress south africa has made over the past ten years, he would say the opposite. much of the effort that has been applied to leading south africa forward over the past decade has been directed to achieving what might be called “ normalisation ” - the steady process of building the stable political and social and economic structures that are normal for a modern, well - governed country in the 21st century. this is true of our political system, as was evident to all the world earlier this year as, with pride and style, we celebrated 10 years of democracy and held standard normal democratic elections, which were conducted with exemplary calm and good order. it is true, too, of the immense progress that has been in building a genuinely open multi - racial society and progressively alleviating the legacy of social neglect in areas such as education, health and basic living standards. it is true also, very visibly, in the economic sphere, in the huge strides that have been made in bringing south africa into the frame as a normal, modern, open, competitive, market - based economy. it is this commitment to normalisation that has won the admiration of the world. i think it would win pliny ’ s admiration, too, and that he would see that it is not frivolous novelty, but stable and sensible normality that is south africa ’ s great achievement. so i think he would re - write his quotable phrase, to suggest that the key ingredient in the immense progress we have made in the past ten years has been, not “ semper aliquid novi ”, but “ semper aliquid normalis ”