calls for policy responses at the national level but also at the international level. it also calls for the consideration that such policy responses may have implications that extend beyond the domestic borders, benefits may also be derived from cross border coordination of policy responses to increase the prospects of achieving the desired outcomes. our conference today focuses on the impact of economic and financial globalisation on the role of central banks, as well as to assess how central banks can effectively contribute to promote stability in this environment. in particular, the conference will be looking at the implications and challenges that globalisation brings to the mandate of the central banks in preserving monetary and financial stability. the pace and nature of globalisation has also brought significant stress to the international financial architecture. the current financial crisis has highlighted the vulnerabilities in the international financial architecture, leading to renewed thinking about the reform of the global financial system. tonight, joseph stiglitz will be speaking on " strong institutions for growth and crisis management ". tomorrow, we will address some of the specific management challenges central banks face in a globalised environment. we will discuss some recent developments of central banks'cooperation and the areas for reform of the international financial architecture. ladies and gentlemen, the crisis presents an opportunity for us to re - evaluate, promote and embrace sustainable long terms solutions. our focus is for the discussion to contribute to the means through which central banks can contribute more effectively in promoting stability and economic growth. this conference will provide an opportunity to reassess our traditional views on many of the issues before us. on this note, i wish you a very engaging and substantive conference.

discussed the subject of poverty eradication through human capital development. the purpose of the financial inclusion advisers programme was to provide practitioners and regulators in the area of financial inclusion with practical ideas via the sharing of knowledge and experiences on developing institutional structures, creating an enabling environment and enhancing financial literacy. the ideas and experiences shared could then be contextualised to the prevailing local conditions to enhance financial inclusion. this proposal was welcomed by the members and resulted in the first financial inclusion advisers programme conducted in lusaka, zambia in april 2009. the success of this inaugural programme hosted led us to this second programme hosted here in malaysia with the support of jica. jica has long been involved in capacity building in the african continent, and we look forward to collaborating in the future in this area of building more inclusive financial systems. the malaysian experience on the financial inclusion agenda in malaysia, the commitment to the financial inclusion agenda is reflected in the new central bank of malaysia act 2009 which incorporates financial inclusion as an objective of the central bank. with the enactment of the act in november of 2009, the central bank has imbedded in the legislation the financial inclusion agenda to ensure that future generation of central bankers will continue to direct efforts to building an inclusive financial system. additionally, the central bank in the process of formulating a new blue print for the financial sector for the next decade. this blueprint would also ensure the development of a more inclusive financial system. the results of the financial inclusion measures thus far have shown positive results. in 2009, the penetration of deposit accounts and loan accounts in malaysia are 3, 300 deposit accounts per 1, 000 adults and 1, 100 loan accounts per 1, 000 adults respectively, which is amongst the highest in the world. this high level of financial inclusion is the result of conscious policies to build a progressive and inclusive financial system. the strategies implemented have generated six characteristics of the financial system. first, a business environment that allows a diverse range of financial service providers to thrive and compete. this environment has led to the creation of commercial financial institutions with differentiated strategies based on their strengths and the delivery of a broader range of products and services that meet the diverse needs of consumers and businesses. the financial system also includes foreign financial institutions through a series of sequenced liberalisation measures as well as development financial institutions, cooperatives and government agencies that complement the domestic commercial banking institutions. this approach leverages on the innovation and the implementation capabilities of the private sector and the diversity and dynamism of competitive markets. at