the ringgit because this will always change in a global economic environment that is challenging, uncertain and dynamic. i believe that the measures introduced on 2 december 2016 will bring the ringgit value closer to its underlying economic fundamentals. it is important in the current economic environment for us to collectively put in effort, knowledge and expertise and continue to drive the development of the national economy. the strength of an economy relies heavily on the level of productivity of the rakyat. i believe that we can enhance our levels of productivity by maximizing knowledge, especially in the subject of finance. over these three days, a total of 100 booths will be featured during this carnival, each offering a variety of finance - related activities and opportunities. this includes facilities to open a bank account, assistance in loan applications, ccris checks, debt management advice ( by akpk and the small debt resolution scheme ), platforms that allow consumers to seek redress solutions, opportunities for innovative smes to submit business proposals as well as group lecture sessions. on behalf of the bank and other related stakeholders, i sincerely hope that you may fully utilise the wealth of opportunities available in this finance carnival by visiting the exhibition booths and participating in dedicated activities designed for fellow visitors. our aspiration is for this event to be a powerful enabler to increase knowledge and awareness on the importance of financial management, which, if done wisely, possesses the distinct potential of uplifting lives. finally, allow me to take this opportunity to express my gratitude and appreciation to the committee, the ministry of finance, relevant government agencies and financial institutions, whose efforts have all contributed towards realising the success of this carnival. 4 / 4 bis central bankers'speeches

muhammad bin ibrahim : raising awareness of financial knowledge in malaysia welcoming remarks by mr muhammad bin ibrahim, governor of the central bank of malaysia ( bank negara malaysia ), at karnival kewangan 2017, kuala lumpur, 13 january 2017. * * * it is my honour to be here this morning for the opening ceremony of the inaugural finance carnival. the carnival is an initiative formed through the collaboration of various ministries, agencies and financial institutions. it aspires to raise the level of public awareness in three important areas : financial services ; knowledge of financial management ; and consumer protection. i would like to extend my appreciation to yang berhormat datuk johari bin abdul ghani, second finance minister, who has graciously agreed to join us today in officiating the carnival. finance has the power to transform lives the pursuit of financial knowledge is a key economic imperative. it also has the ability to transform lives. in today ’ s world, the ability and knowledge to save, invest and borrow are essential life skills, be it for individuals or businesses. for businesses, including small enterprises, financial knowledge is particularly important in generating income and to secure financing. various efforts have been undertaken to improve financial inclusion in malaysia. the results so far are promising. currently, the majority of malaysians ( over 90 percent ) have access to formal financial services. 92 % of adults have a savings account, while 98 % of users have performing financing accounts. based on a survey that was conducted, consumer satisfaction towards financial services increased significantly from 61 % in 2011 to 73 % in 2015. we will continue to invest efforts towards improving the performances in this area. with loans amounting to rm1. 5 trillion as at end - november 2016, the banking industry is the main source of funds to households and businesses, including small and medium enterprises ( smes ). recognising the pivotal role of the banking sector in our economy, bank negara malaysia will continue to develop the financial sector in a progressive and inclusive manner to ensure that all segments of society can benefit from this financing ecosystem. financial knowledge among businesses and individuals must be continuously improved while results are promising, our efforts in achieving financial inclusion need to be further intensified. there remain gaps in access to financing for certain segments of society, which require collective efforts from all. the bank is receptive towards these needs and remain committed to assist the public at all times. among the issues raised by businesses are the difficulties in obtaining funding to start