benjamin e diokno : philippine identification system - paving the way towards financial inclusion speech by mr benjamin e diokno, governor of bangko sentral ng pilipinas ( bsp, the central bank of the philippines ), at the roundtable discussion on " championing and accelerating good digital id for all " during the world bank group / imf annual meetings, washington dc, 17 october 2019. * * * good morning! it is a privilege and honor to be speaking before a chosen group of eminent dignitaries on a very important and growing topic across the globe. the innovation, development and advancement of technologies has ushered us to a new digital world, and reshaped mindsets, perspectives and decisions of government officials and regulators. technologies have greatly influenced the way we go about our normal ways and they continue to do so as we speak. the journey for a national id for the philippines started 30 years ago. but it failed to pass one congress after another. finally last year, the philippine id system act was past last year. and i am happy to announce that on 07 october 2019, we had a milestone as the central bank of the philippines signed the memorandum of agreement ( moa ) with the philippine statistics authority that starts the implementation of the “ philippine identification system ( philsys ) act. the law, which promulgates the policy of the state to establish a single national identification system, mandates the issuance of a unique, non - transferable card to all citizens or resident aliens registered under the philsys. the law is beneficial for all filipinos as it provides “ a means of simplifying public and private transaction ” through a reliable and nationally - accepted proof of identity. having this proof of identity has far - reaching benefits, particularly in promoting financial inclusion. with the “ philippine id ”, unbanked filipinos will have a proof of identity which is a key requirement in opening a bank account. it will be easier for unbanked filipinos to open bank accounts and avail of financial services — a win for our financial inclusion agenda. this will enable more of our marginalized countrymen to enjoy gains from and participate more actively in the country ’ s growing economy. as such, the central bank of the philippines is glad to take part in this game - changing reform as we join the other countries in providing a foundational platform for the delivery of services. the central bank of the philippines, as the national security printer for the philippine currency, has the

rasheed mohammed al maraj : development of the insurance business in bahrain address by his excellency rasheed mohammed al maraj, governor of the central bank of bahrain, at the sixth annual gulf insurance forum developing gcc insurance markets & products, manama, 4 november 2009. * * * distinguished guest, ladies and gentlemen, good morning. it is a pleasure for me to be here today to address the annual gulf insurance forum. now in its 6th year, the forum is clearly establishing itself as an important event in the insurance market calendar. i would like to commend the organizers, the co - ordination commission for gulf insurance and re - insurance companies and the bahrain insurance association ( bia ), for putting together a stimulating program, which will no doubt enrich the ongoing dialogue and debate on addressing key areas in the development of insurance markets and products in the gcc. i would also like to extend a warm welcome to the delegates and the many distinguished speakers for taking the time to contribute to this forum. i will keep my remarks brief and outline some of the highlights in the development of the insurance business in bahrain. despite the recent financial turmoil in the financial sector, the insurance market in bahrain has continued its double digit growth in both the conventional and takaful markets. following an annual increase of gross premiums of 34 % for the 2008 year end, we have seen a continuing growth trend for 2009 with a 9 % growth as of the end of june 2009 compared to the same period in the previous year. gross premiums for the takaful sector have increased 37 % to bd 18 million as of the end of june 2009. currently, takaful gross premiums account for almost 18 % of total premiums, up from 14 % a year ago. medical insurance as well as life insurance have also contributed significantly to this growth in overall premiums. however, while underwriting results have continued their positive trends, the insurance firms needs to closely monitor their returns on investment, in order to ensure that they will continue to meet their liquidity and financial obligations towards their policyholders. we at the cbb believes that sound insurance markets need to have appropriate regulatory framework, adequate accounting standards and a strong supervisory infrastructure, and proper corporate governance that should be long - term oriented focusing not only on shareholders returns, but also on protecting policyholders. there is also a clear and urgent need for better cooperation among supervisors on both a regional and global basis and a coordinated approach in several of