##ve customers over the years and measures were required to be taken by the banks to protect the customers. while it is good to know that banks have played their roles in investing in robust security systems, they must also ensure that customers play their part in protecting their own assets and savings. the reminder and greater awareness from the banks through this campaign is timely. it will not only reinforce the need for constant vigilance from all parties, but also help create an environment where everyone is risk conscious and responsible in protecting the interests of each other. these initiatives would not achieve the desired outcomes without effective bis central bankers ’ speeches communication, and the media has a critical role to play in conveying the message from the banks. we have always acknowledged the importance of the media and i would like to record bank negara malaysia ’ s appreciation for the assistance rendered by the media in creating awareness of this issue in the past. we hope that with the support of the media on this occasion too, this campaign will be a success, and the public will have heightened levels of understanding and vigilance over this issue. on behalf of bank negara malaysia, i would like to thank all the banks for taking this initiative to undertake this joint e - banking awareness campaign. our thanks also to cyber security and the police force for your ongoing efforts to collaborate with the banking industry. i wish all of you the best and assure you that bank negara malaysia will continuously support you in this noble effort. bis central bankers ’ speeches

limited restructuring of corporate operations to date across the region raises questions about the medium - term sustainability of recent improvements in bank asset quality. the relative lack of breadth in the region ’ s recovery also creates vulnerabilities. asia ’ s export orientation has long been a key focal point of strength, to which the recent recovery attests. however, too great a dependence on export - driven growth brings increased vulnerability to external shocks. asia, in particular, will feel the negative effects of a worldwide slowing from last year ’ s strong rate of growth. moreover, domestic demand has not recovered sufficiently from the crisis to sustain the region ’ s economies. with fiscal policy constrained to varying degrees by heavy public sector debt burdens, regional central banks, in some cases with new - found independence, will need to maintain their stimulative policies to support the recovery. unfinished business while important progress has been made in rehabilitating asia ’ s financial systems, a great deal remains to be done to continue the strengthening of weakened financial and corporate sectors, and improve the region ’ s resistance to future problems. i am well aware that universal policy prescriptions are difficult to draw, given the wide range of experience and initial conditions. indeed, individual countries in asia have followed differing reform strategies, and the results of these efforts will help to inform the ongoing debate. nonetheless, i am fond of citing a few of the cautionary lessons from recent international experience with financial sector reform : • restructuring and reform must adequately address both the current " stock " of problem assets, as well as the potential " flow " of new problems attributable to deficiencies in the broader financial system infrastructure. lack of adequate action on either front can lead to a continuation of the substantial costs of weak banking sectors, sometimes well beyond the immediate crisis itself. • clean - up efforts must be sufficient to the task. half - done measures that leave financial institutions with significant levels of impaired assets at best postpone the reckoning and potentially create incentives for excessive risk - taking. • fundamental improvements in bank corporate governance are critical. just as risk management and internal control processes usually need to be thoroughly overhauled in weak institutions, more often than not, so too does management. • protracted forbearance to preserve the appearance of solvency is not a solution. while some degree of forbearance may be unavoidable and even appropriate under the right conditions, it is at best a temporary measure. it is critical that for