is no longer a " niche ", but a business imperative, one that is aligned with global movement that encourages value - driven financial and investment decisions. it is my firm belief that value - based finance can indeed be a strong catalyst for sustainable growth and development. by prioritising values in our financial systems, we can elevate the purposefulness of finance and create a more enduring financial system that contributes to the well - being of our planet and its people. on that note, i wish everyone a beneficial and productive session for the rest of the conference. thank you. 1 the sustainable development goals report 2023 : special edition, towards a rescue plan for people and planet, 10 july 2023. 2 the state of food security and nutrition in the world 2023. 3 climate inequality report 2023, world inequality lab. 5 / 6 bis - central bankers'speeches 4 malaysa economic monitor : expanding malaysia's digital frontier, february 2023. 5 national energy transition roadmap, page 57 and prime minister's speech for the launch of the new industrial master plan 2030 ( nimp 2030 ) delivered on 1 september 2023, paragraph 22. 6 / 6 bis - central bankers'speeches

have traveled on. as our previous experience has shown, we need to constantly recognize that strategies that serve well in today's environment would not necessarily be a formula for success in tomorrow's environment. in looking at the future terrain of the financial sector in malaysia, six trends are particularly important – first, the changing configuration of the global economy and global financial markets ; second, regional economic and financial integration ; third, financial sector development amidst increased liberalisation in the asian region ; fourth, increased role of domestic demand in the asian economies ; fifth, growing significance of islamic finance in the international financial system ; and finally, developments in the regulatory structures and approaches. it can be expected that all these trends will have a significant bearing on the future of the banking industry. first, the global economic configuration has been altered by the emergence of several large emerging economies into the global economy. this is especially evident in asia, where the rise of china, india and the south east asian economies have increased asia's global role. as a result, asia today features four 1 of the world's twelve largest economies and several of the fastest - growing economies. collectively as a region, asia contributes about 40 % of global output 2 and one - fourth of world trade. the region is also a significant net exporter of capital, holding two - thirds of the world's foreign exchange reserves and is the largest holder of the developed economies'sovereign bonds. one - quarter of fortune's top 500 global companies are asian corporations. this opens up tremendous business opportunities for malaysia as a part of this dynamic growth region. accompanying these changes has been the prevalence of abundant liquidity in the global financial markets, resulting in an intensified search for higher yields. these trends are encouraging flows into the capital markets of emerging economies, presenting new opportunities for wholesale banking and capital market related financial services. these flows, however, also pose potential risks of reversals in financial market conditions. this increases the need to ensure that we have the capacity to absorb or adjust to changing financial flows. a second significant trend shaping the future financial landscape is the intensification of regional economic and financial integration. economic integration through trade is already well - advanced in asia, with the share of intra - regional trade already more than half of the total trade in asia. more recently, however, greater financial integration at the regional level has been an important development, bringing complementary and mutually - reinforcing benefits to the economies in the region. intra - regional investments among the