implementation will also be follow - up through cooperation between bank indonesia representative offices with the local regional police. bi efforts in the strengthening of security system ladies and gentlemen, 13. we are aware that as a strategic institution, we must have a security system that can integrate and utilize both internal and external resources to ensure the smooth implementation of bank indonesia duties. at this time we continue to strengthen the security system of bank indonesia, commonly called sispambi. 14. several security efforts referred to, among others are in the form of the division of security area classification, i. e. : limited, very limited, prohibited and closed areas. we restrict access to those areas both by access rights and escort officers. gradually, we have modernized security system devices integrated with the building security. 15. related to hr, we also continue to improve their quality and skills through various training such as reskrim / intelkam ( detectives & criminal / intelligence & security ), bis central bankers ’ speeches sar, fire fighters, security for vip, and other various training which frequently conducted in cooperation with polri. expectation with the signing of the work guidelines attendees, ladies and gentlemen 16. the signing of the work guidelines today should be able to become a good communication adhesive, an intensive coordination, and also a synergic collaboration between bank indonesia and polri, specifically korbrimob, both at central level and regional levels. we also are convinced that securing bank indonesia and escorting state - owned valuables can be run more smoothly and effectively. 17. thus this speech, may allat swt be with us always, to bless and ease our step in the future. wassalamualaikum wr. wb. bis central bankers ’ speeches

abdulrahman a al - hamidy : brief overview of the saudi arabian insurance industry speech by his excellency dr abdulrahman a al - hamidy, vice governor of the saudi arabian monetary agency ( sama ), at the first symposium on insurance, held at the institute of banking, riyadh, 22 – 23 march 2011. * * * it gives me pleasure to welcome you all to the first symposium that the saudi insurance industry has organized in collaboration with the institute of banking. i hope more such events will be organized to discuss future plans to expand insurance activities, and to set up mechanisms to improve the working environment of the insurance industry to enable it to serve better. dear audience, thanks to allah, that the saudi economy has witnessed considerable economic and social development since the turn of the century. this has largely resulted from the restructuring of the economy and improvement in the regulatory apparatus that has greatly facilitated domestic and foreign investment and thereby has helped enhance the efficiency and competitiveness of the economy. the non - oil real gdp has grown by an annual average of 4. 4 percent in the past five years. the private sector production went up by 4. 5 percent and its contribution to real gdp increased to 48. 8 percent in 2010 from 45. 5 percent in 2006. other key developments that took place during the last five years included : yearly state expenditure rising up to rls 2. 6 trillion ; decline in public debt to rls 167 billion ( 10. 2 percent of gdp ) ; annual current account surplus averaging $ 75 billion and increase of more than rls 550 billion in bank assets. according to the world bank group report, the kingdom has been ranked eleventh in the world and first in the east region in terms of doing business and provision of competitive environment in 2010. the development witnessed by the kingdom during previous years has been comprehensive and broad - based. vast number of development projects to modernize infrastructure, and improve facilities to provide water, electricity, health and educational services have been approved. therefore, it is expected that strong growth of the saudi economy will continue unabated and this will expand the financial sector in general and the insurance sector in particular. dear audience, insurance companies play a key role for the development and stability of public and private sectors by providing opportunities to individuals and firms to improve their risk profiles and obtain compensation for losses incurred. it is for this reason that sama has been keen in regulating the insurance sector in accordance with the national and international standards and practices.