digital esg credentials for msmes worldwide. project savannah aims to simplify the esg reporting process for msmes by leveraging on digital initiatives such as mas'project greenprint, to generate esg data credentials that can be housed in msmes'lei records. msmes will thus be able to transmit verified entity information and key esg data to their business partners, strengthening their ability to gain access and be included in global financing and supply chain opportunities. through simplified reporting, the harnessing of technology, and partnerships with the undp and gleif to promote accessible data and capacity development, project savannah will help msmes progress on their sustainability journey. the undp, gleif and mas are already consulting regulators, financial institutions and real economy corporations to refine the project's scope and execution. these engagements will culminate in a multi - jurisdictional pilot targeted to be launched at cop28 in dubai later this year. the third theme of our collaboration is enhancing training for msmes. msmes will need to be continuously trained to navigate an increasingly complex operating environment. we must find a way to deliver training in a harmonised and costeffective manner. mas, undp and ifc launched an open financial education learning hub in 2022 for msmes called the sme financial empowerment programme or sfe. with a curriculum curated from leading universities, financial institutions and industry practitioners, the sfe provides msmes with a knowledge base on foundational financial literacy, international financial literacy, green financing and reporting, and understanding of cross - border business and foreign exchange financial instruments. undp has contributed its expert educators, domain knowledge speakers, and has supported wider collaborations with un member states. thus far 7, 000 msmes from 61 countries have benefitted from sfe. let me conclude. this promising start on a set of compelling global public goods that i have shared so far would not have been possible without the support of undp and the un global center for technology, innovation and sustainable development. development with consensus is not an easy task. and the task is going to become more challenging as the world diversifies into distinct ecosystems. no country can do it alone yet all could benefit from these efforts. 4 / 5 bis - central bankers'speeches i look forward to further support from like - minded partners to make progress in delivering public goods more globally, which can benefit msmes around the world and ultimately enrich the lives of our people. i wish you a meaningful dialogue ahead

on diminishing musharaka financing and spot murabaha transactions respectively. conduct a wide range of islamic financing activities, and to have greater flexibility to structure instruments to meet their risk management needs. the facility for a reverse - enquiry singapore dollar sukuk was completed in january. we have issued the first tranche to the islamic bank of asia, and are reviewing applications from other banks. we have also ensured equal tax, regulatory and liquidity treatment of the sukuk with singapore government securities, effective immediately. members of the ifsb board and the industry have been very active in developing talent. several credible islamic finance training providers are offering courses here. the singapore management university offers an undergraduate module on islamic law, banking and commerce and the wealth management institute has incorporated an islamic finance module in its masters of science in wealth management programme. the national university of singapore recently organized an islamic finance conference. these initiatives help to raise understanding of islamic finance among students and industry practitioners. to support professionals who wish to deepen their expertise, i am pleased to announce that beginning from this year we will sponsor students for the eligible islamic finance masters programmes. mas will continue to work towards a regulatory approach that is clear, relevant and consistent, across the range of islamic financial activities. we are committed to working with fellow regulators, and to developing the infrastructure and talent to support the growth of islamic finance in singapore. conclusion in conclusion, we face challenging times. but the dynamism of asia, including the middle east, will return and the structural economic changes are likely to accelerate. the focus on the role of finance to develop productive sectors will raise the profile of islamic finance, and create new opportunities. on that note, i wish you a fruitful discussion during this summit and a very pleasant stay in singapore. thank you.