ranee jayamaha : the financial performance of the credit information bureau in sri lanka during 2005 speech by dr ranee jayamaha, deputy governor of the central bank of sri lanka, at the annual general meeting of the credit information bureau, colombo, 23 june 2006. * * * members of the head table, the board of directors, the shareholders of the crib, chief executives and officials of banks and financial institutions, ladies and gentlemen. i am pleased to present to you this evening the chairperson ’ s report of the crib which summarizes the significant growth in business operations and the financial performances of the crib during 2005. sri lanka ’ s crib is one of the pioneer credit information bureaux in the south asia region since its establishment in 1990. the year 2006 is a landmark in its history as the crib will begin to re - engineer its core business processes with enhancements and upgrades to the technological infrastructure. as indicated in the annual report, during 2005, the crib has recorded a remarkable growth in its businesses and achieved its primary objective of collecting, collating and dissemination of aggregate credit information for the use of stakeholder institutions. reporting of credit information to, and complying with the bureau ’ s requirements are mandatory and the crib has made a conscious effort to educate the member institutions of the reciprocal benefits of providing reliable credit information. throughout the year, the crib has continued follow up work in refreshing and updating the existing credit database. these measures have resulted in an increase of regular advances by 31 % and a reduction of irregular advances by 3 % during 2005. in addition to the increase in the number of credit reports disseminated by the crib, considerable efforts have been made to improve the quality of credit information through data - cleansing. by making mandatory the inclusion of the nic number of individuals together with the business registration number, the crib has been able to provide more reliable credit reports thus facilitating the lenders ’ credit decisions. in addition to the speedy dissemination of quality credit reports, the crib lays claim to a number of operational efficiencies achieved during 2005. with the introduction of the web - enabled credit report delivery system, crib ’ s operational efficiency has improved significantly while reducing its cost of operations. the one - hour service has been very popular and it has substantially enhanced crib ’ s income. despite limitations and operational weaknesses, the collation of a delinquent credit card holder database was an added facility made available to its

caroline abel : closing remarks - fintech seychelles workshop closing remarks by ms caroline abel, governor of central bank of seychelles, at the fintech seychelles workshop, mahe, 10 may 2019. * * * secretary of state, deputy executive director, alliance for financial inclusion, programme leader, world bank group, representatives of central banks, distinguished guests, ladies and gentleman, good morning. the past two - and - a - half days have been an insightful journey for us all, especially the local stakeholders, as it has provided us with the necessary interactions to help demystify the concept of fintech. if there is one thing that has become clear from the discussions, it is this : it is important for us to be on the same page if we are to embrace the opportunities and efficiently mitigate the risks that technological advances bring to the financial sector and indeed, the economy as a whole. we are now better equipped with much - needed information for the work to begin on drawing up our national fintech strategy ; one that clearly outlines what can and what needs to be done, by whom, and in what timeframe. the challenge that we now face – and it is not an unsurmountable one – is to educate and empower our local population, so that they embrace the move towards more digitalisation with less suspicion, and eventually see the benefits that fintech can bring to their daily lives. the fact that seychelles is small, means that we can do things more efficiently and roll out new initiatives faster, with the support and participation of all relevant stakeholders and partners. at this juncture, i take the opportunity to express our sincere appreciation to our international partners, notably the world bank and the alliance for financial inclusion, without whom this event would not have had the same high - level of engagement and interaction. we are also grateful for the learning experiences and innovative ideas shared by all our moderators, panellists and delegates – your active participation is much appreciated and has contributed to the success of this workshop. my final word of thanks is extended to the local financial sector regulators and financial industry players who have shown a keen interest in moving the fintech agenda forward. the end of this workshop today signals the beginning of much work that cannot be done in silos, if we are to move the financial sector into the digital and technological era. i therefore urge all partners to keep this momentum going and stay on course with our target of delivering a national fintech strategy by the end of 2019. on