islamic financial markets have brought about a natural environment for innovation of islamic financial instruments. a broad spectrum of instruments, such as government papers including bonds and treasury bills, central bank notes and islamic accepted bills, can be structured on a shariah - compliant basis to meet the needs of these markets. in addition, instruments for a risk mitigating mechanism for hedging or value protection need to be developed. while risk mitigation is desirable in islamic finance, innovations need to be made for this purpose. to aid the process of developing the financial markets, bank negara malaysia has recently developed a website on the islamic money market as a source of information on domestic islamic financial instruments and to facilitate investment decisions and secure public confidence in their investment. the website aims to effectively meet the needs of bankers, financiers, statisticians, economists and prospective investors as well as increase awareness of the users - domestic and foreign. moving forward, the website will be linked with other markets to serve as a platform for exchanging information and knowledge beyond our borders. the existence of a well - developed capital market is also important to provide users of capital with an alternative and cost efficient source of medium and long - term financing. it would also provide investors and savers with a wider range of financial instruments to suit their individual return and risk profiles as well as allow for better diversification of risks in the financial system. one of the linkages in this market is asset securitisation. mortgage financing is an example of where the asset liability mismatch can be addressed. this would substantially improve the liquidity and quality of assets of the banking institutions, while at the same time contribute towards promoting the development of the capital market and secondary trading of instruments through the issuance mortgage - backed private debt securities. over the years, the scope of securitisation activities can evolve and expand with the introduction of securitisation of islamic hire and purchase or leased assets ending with ownership, and other types of leased financing. at the core of a financial system of any country must lie an efficient and effective payment system as a means for clearing and settling payments. in modern economies, this function is already highly mechanised to support a sound and stable financial sector. it is vital that a real time settlement system for inter - bank funds transfer be implemented to reduce the credit and settlement risk in the financial system. it must be able to handle scripless debt securities trading, processing and settlement on a model that reduces

businesses and the country's economy in general, is of special 1 / 2 bis - central bankers'speeches importance because, in addition to the economic empowerment of women, it will also affect their inclusion in the country's economy and in other areas of life. cbk sees the new guarantee window for women in business as a good opportunity to promote gender equality and believes that equality of economic opportunities for women and men is a key element of a modern, well - functioning market economy and is essential for sustainable and inclusive growth. an important role in the level of financial intermediation will also be played by the startup window, through which will be supported new entrepreneurs, who aim to start the realization of a business model, product or innovation, with rapid growth and expansion potential. considering the reluctance of the banking sector to finance start - up businesses due to the high risk associated with these businesses, the new guarantee window for start - ups will affect the increase in financial inclusion, and thus the growth and expansion of their activity. these two guarantee windows for women in business and start - up will help in the growth and development of businesses, contributing to the overall economic development of the country. for the end, i would like to congratulate the banks that are part of these windows and encourage other banks to be involved in such projects. the central bank of the republic of kosovo continues to support and push the financial sector to increase support for the country's economy. thank you! 2 / 2 bis - central bankers'speeches