barry whiteside : microfinance and financial literacy development in fiji opening speech by mr barry whiteside, governor of the reserve bank of fiji, at the korovou microfinance expo, korovou, 19 may 2012. * * * the permanent secretary provincial development & multi - ethnic affairs, lieutenant colonel inia seruiratu the commissioner central, major bale tuitubou the roko tui tailevu, mr. semisi saukawa korovou town administrator, mr. jone bera microfinance clients and entrepreneurs representatives of banks and financial institutions government agencies and ngos the vanua of tailevu distinguished guests, friends, colleagues, ladies and gentlemen bula vinaka and a very good morning to you all. it is a real pleasure for me to be here today on this occasion to help open the korovou microfinance expo. i note that this is a first for your town and the feedback we have received since announcing our plan to bring the expo to tailevu has been very positive. i wish to acknowledge the tremendous support we have received from the commissioner central ’ s office, the roko tui tailevu, the principal of tailevu north high school mr. senikarawa, the northland rugby secretary and all the stakeholders here today in organizing this event. vinaka vakalevu! this is the first microfinance expo organized by the reserve bank this year and follows two we had in the maritime zone and at the suva hibiscus festival last year. our partners are here again today – the banks, other financial institutions, the non - bank financial institutions, investment agencies, government agencies, mobile network operators, ngos, microfinance institutions, the national centre for small and medium enterprise development and the micro enterprises and entrepreneurs. all are combining their efforts to promote greater awareness of financial inclusion. it is a good example of public sector, private sector and civil society partnership towards common goals. results are produced through such coordination and understanding. at the end of the day, it is the general population that will benefit from such collaboration. ladies and gentlemen, this microfinance expo in korovou is a rare opportunity for you ; we have brought microfinance and financial literacy to your door - step. i hope you will take advantage, and benefit from this opportunity. the occasion is meant to be educational and fun. apart from the abundance of useful information, services and products displayed and

lee hsien loong : capital markets in the new economy speech by mr lee hsien loong, chairman of the board of directors of the monetary authority of singapore and deputy prime minister, at the 25th anniversary celebration dinner of the singapore investment banking association, held in singapore, on 6 september 2000. * * * chairman, siba, mr koh kah yeok, distinguished guests, ladies and gentlemen, introduction i am happy to celebrate with the singapore investment banking association ( siba ) your 25th anniversary. for many years, siba has actively provided industry feedback on government policies, especially on capital market regulations and developments. these inputs have helped mas to create a conducive environment for all financial players. last november, your association broadened its charter, reconstituted itself to include a wider spectrum of activities and financial institutions, and changed its name to siba. this was a timely move. i am pleased to note that you have formed the siba debt capital market committee. as an mas survey1 shows, corporate debt issuance more than doubled last year to s $ 19. 5 billion. in the first half of this year, corporate debt issuance is already s $ 21. 2 billion, exceeding the volume for the whole of last year. more diverse issuers are tapping the debt market, and interest from local investors has grown. an industry body to champion the development of the debt market, and institutionalise a feedback channel to mas, will therefore play a useful role. global trends in capital markets in the financial industry, globalisation is proceeding apace. there has been a worldwide wave of consolidation among financial institutions, stock and derivative exchanges, and even regulatory bodies. in 1999, there were 900 merger - and - acquisition ( m & a ) transactions among banks, worth us $ 300 billion worldwide. 2 the securities industry has been no less active, with exchanges and clearinghouses in a flurry of mergers and alliances. while globalisation and integration are established features of capital markets, two more recent trends are noteworthy : firstly, stronger linkages between capital market and treasury activities, and secondly, the impact of technology and the internet on capital markets, particularly in the securities industry. mas ’ guidelines on treatment of credit derivatives and securitisation the links between capital market and treasury activities reflect an increase in cross - border transactions. in the us and europe, the spate of mergers and acquisitions has boosted the volume of foreign exchange flows. the mergers have also led to