skills to confidently make responsible financial decisions at key stages of their lives. we need to promote healthy attitudes towards financial management. and in kofi annan ’ s words, we need to build a bridge to hope for every malaysian who has been affected by the pandemic crisis – not just to tide over the immediate challenges that they face, but to provide for their future financial security. with this in view, this community of practice aims to help fen members and the broader financial education community develop effective responses to meet the challenge of delivering lasting and impactful financial education to society. the community of practice agenda today focuses on two key areas. the first is the measurement and evaluation of financial education and its effectiveness. strengthening measurement and evaluation is a key pillar of fen ’ s strategies to increase the impact of initiatives implemented by fen and its members. this would enable fen members to design more effective and tailored financial education programmes, that also optimises resources, to achieve sustainable behavioural change. by strengthening the focus on outcomes and impact, we can reinforce effective practices and support the continuous improvement of programmes. with this in view, fen is committed to develop and execute an annual measurement and evaluation process for financial education programmes that support the national strategy for financial literacy – to be implemented from 2022. 2 / 3 bis central bankers'speeches the second area of focus today is on opportunities to make better use of data and behavioural insights to advance smarter financial education. a key challenge that we face today is the misalignment between information and resources made available to financial consumers, and the way in which they consume, process and act on such information. behavioural insights can help us close this gap to make better use of the tools at our disposal to bring about positive change. advances in technology are also opening up new opportunities to leverage on behavioural insights to achieve more effective financial education interventions. the ability to gain much deeper and richer insights into consumer behaviour are now possible, and could completely change the way we think about and deliver financial education interventions. the community of practice enables us to tap into a reservoir of knowledge and expert resources to explore new opportunities and ideas, and strengthen existing collaborations to take the financial education agenda forward. as fen continues to grow, we hope to further expand the community to provide thought leadership and strategic insights that will benefit all fen members and partners in our joint efforts to raise the level of financial literacy in malaysia. on this note, let me thank everyone again for taking the time to share your perspectives

mervyn king : how international cooperation can raise britain ’ s economic performance opening remarks by mr mervyn king, governor of the bank of england, at the panel on eu / us cooperation at the advancing enterprise conference, london, 26 january 2004. * * * chancellor, ladies and gentlemen, in this session we shall examine how international cooperation can raise britain ’ s economic performance. before introducing our speakers this afternoon, i would like to present a few facts about productivity in this country, and then pose three questions. you might ask why a central bank governor is chairing a panel on enterprise. well, some believe in prudence for a purpose ; we believe in stability as a spring - board, a springboard for enterprise. since the start of the railway age in the 1830s, output per person has increased ten - fold in britain ; it has increased twenty - fold in the united states. that is because over that period output per person rose on average by 1 ½ % a year in the uk and by 2 % in the us. the result is that the level of output per person is now around 25 % lower in britain than the us. in part this reflects shorter working hours, but it also reflects a lower level of productivity. from around 1980, however, the productivity gap between britain and united states started to close, and for the following 15 years or so labour productivity actually rose significantly faster in the uk than the us, at an annual rate of 2. 1 % compared with 1. 4 %. but since 1995, the gap has started to widen again as ict investment has boosted productivity growth in the united states. the empirical evidence suggests that one of the most successful ways to speed up convergence in productivity is to promote international trade and investment, and openness more generally. within manufacturing, the rate at which the productivity gap between britain and the us closed during the 1980s and early 1990s was greater in the more open than the less open sectors. against that background, let me suggest three areas for questions : first, why is the gap in the level of productivity between the us and the uk so persistent? and what are the obstacles that prevent the gap from narrowing - are they in the fields of trade, technology transfer, or flows of investment? what are the respective roles of business and government in removing them? second, can the uk benefit as much as the us from the it revolution? is it a question of the speed with which business adapts? or is it the need to fund our