export sector is still important, the significance of domestic demand has gradually increased. in this current environment, the malaysian government has implemented a significant fiscal stimulus to sustain domestic demand. following the reduction in interest rates, retail borrowing costs have declined to new historical lows. thus both the fiscal stimulus and the accommodative monetary environment are expected to improve demand conditions in the second half of the year. malaysia also has diverse trading partners which contributes towards mitigating the full impact of the global slowdown on our domestic economy. businesses in malaysia have over the years continued to build trade and investment linkages with other emerging countries especially in asia. adequate access to financing is therefore vital not only for supporting domestic demand but also to ensure that malaysian businesses are able to take advantage of the opportunities in the regional and global economy. the strong domestic banking system, with its ample liquidity, has the potential capacity to provide the access to financing. some smes however are experiencing stress from the current more difficult environment. several preemptive measures have therefore been introduced to enhance the prospect for access to financing. the sme assistance guarantee scheme that was launched on 3 february 2009 to provide smes with an 80 % guarantee cover will enhance access to financing in addition to keeping the cost of financing low. as at 5 april 2009, more than 880 applicants have successfully obtained financing through this scheme and more than 790 applicants are still being evaluated. two additional schemes, the working capital guarantee scheme and the industry restructuring financing guarantee scheme, has been recently launched to enhance access to financing for working capital and to support long - term investments that will increase productivity and that will generate high value - added activities. the measures to enhance access to financing are also reinforced by the provision of financial advisory services and by developing channels for redress by borrowers. the bnm link and telelink established by bank negara malaysia and the abm - connect that has been set up by the association of banks in malaysia serve as important conduits for greater interface between the banks and the borrowers. these measures are also complemented by the institutional framework to deal with problem loans in the retail and business segments. the small debt resolution scheme ( sdrs ), which was created in 2003 to facilitate the restructuring and rescheduling of credit facilities for small businesses has now been expanded to include all viable smes facing financial difficulties with financing from multiple financial institutions. importance of information credit bureaus malaysia has been ranked number one in the world in terms

who were close to governor ismail ali and dedicated hundreds of pages to his life. but, it is certain that we have yet to do justice in capturing the breadth and depth of his persona. governor ismail ali had a far - reaching impact, not only on the country ’ s economic and financial landscape, but also on the personal and professional lives of many. as we were completing this book, we discovered there are others who carried untold stories of him, from here and abroad, each with another brushstroke to add to the portrait of his vision. it is only right that we continue to capture these recollections and stories of governor ismail ali and therefore, the bank will publish a second edition of this book. it is our hope that the vision, dedication and resilience of governor ismail ali would inspire our future generations, be it central bankers or not – and to prepare them as they partake in the dynamic financial ecosystem. this book chronicles, not just who he was and what he did, but also what governor ismail ali stood for and what he envisioned for this country. it is said that there are two things parents should give their children : one are roots, and the other are wings. as the first malaysian governor of bank negara malaysia, governor ismail ali planted the principles that now run deep within the bank and gave us the vision to soar towards. as guardians of the financial system, central bankers must maintain public trust. not only does a 1 / 3 bis central bankers'speeches central bank need to be careful custodians of monetary policy and an able adviser to the government, we need to be seen and recognised as the competent authority to discharge these roles. a central bank needs to engender confidence. governor ismail ali ’ s immutable emphasis on the integrity of the bank ’ s moral compass and the strength of our competency stems from a sense of duty, amanah. fundamental to building and maintaining this trust is the need for every staff of the bank to perform at our utmost and positively shape the bank ’ s reputation in the eyes of the public. in this, governor ismail ali led by example. there are two principles – trust and integrity – which were amongst the key principles that guided governor ismail ali, and with which he formed the pillars of bank negara malaysia. governor ismail ali was strict, sharp, and straightforward. meticulous in his duties, he was respected for his sound knowledge of central banking and rule of law.