dollar petronas sukuk and bond took approximately one month, from structuring the instrument and date of submission to the authorities, to book building and the issuance date – reflecting the efficiency of the malaysian market. prior to this, malaysia has also seen wide ranging ringgit - denominated issuances by nonresident issuers. multi - nationals, foreign corporations and multilateral agencies such as the international finance corporation, international bank for reconstruction and development, and the islamic development bank have successfully issued sukuk in malaysia. all these issuances garnered overwhelming response from resident and non - resident investors as reflected by the oversubscription of these sukuk issuances. the liquidity and tradability of these ringgit issuances have been supported by the diverse range of players in the domestic islamic financial system and the increasing demand from foreign investors. the establishment of cmh marks a further milestone in the development of the islamic financial system under the mifc initiative, sustaining the continued evolution and the development of islamic finance. i wish to acknowledge the endorsement of the ministry of plantation industries and commodities and the support by the malaysian palm oil board, malaysian palm oil association and malaysian palm oil council as well as the cpo industry players towards this initiative. on this occasion, i wish to take the opportunity to congratulate the team at bursa malaysia, bank negara malaysia, the securities commission and the market players for their perseverance in concluding this project that was started two years ago and in making it a reality today.

number of cheques over the country ’ s population, or cheques per capita, it is at 7. 1. this figure is much higher than 3. 9 in advanced countries such as norway, finland and australia. it is also worth noting that 92 % ( or 18. 4 million ) of the total adult population in malaysia have banking accounts and of these, about 74 % ( 13. 7 million ) of bank account holders have internet banking accounts. however, although 74 % of the bank account holders have internet banking access, only 43 % ( 5. 9 million ) of the internet banking subscribers are active users in conducting financial transactions. in this regard, we have not reached a stage where the masses are familiar or have gained sufficient trust in using internet banking to conduct their financial transactions. it is through educational programs such as this roadshow event that we hope the businesses will take the opportunity to learn more about the security safeguards and safe practices to gain sufficient confidence to adopt online banking and conduct e - payments. touching on the issue of security, the banking industry has implemented additional security features such as the introduction of two - factor authentication to ensure the validity of internet banking users in addition to the use of user identification and password. for your information, the losses due to internet banking fraud, accounts for only 0. 0002 % of the total transactions of rm3 trillion recorded in 2012 and this figure has declined to 0. 0001 % of the transaction amount of rm2. 6 trillion in the first nine months ( january – september ) this year. the speakers will share with us more about the safety features and safe practices to conduct internet banking afterwards. to encourage the migration to e - payments, bank negara malaysia has announced a new pricing strategy for payment services in march this year. the transaction fee for ibg conducted via internet and mobile banking has been reduced from rm2 to 10 sen with effect from 2 may 2013. this is to give the public and businesses an 11 month head - start to adopt e - payments before the cheque processing fee of 50 sen is imposed on 1 april 2014. the adjustment to the ibg and cheque prices is to align them closer to their cost of production. the actual cost of production is about rm3 per cheque and currently consumers pay only 15 sen for the stamp duty per cheque leaf. the 11 months delay in the increase in cheque fee was intentional to allow the public and businesses to familiarize themselves with the use of online banking to