samchain/econo-pairs-v2 huggingface dataset:
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, a passport is adequate documentation in itself for account opening. in the absence of the passport, a list of other government issued identity documents is acceptable. verification of address by proof of a utility bill has given way to establishing proof that the client can be contacted by electronic or other means. the central bank of the bahamas has also made it clear that high risk does not mean than an extra burden should be imposed to identify oneself — rather more due diligence should be exerted around the other dimensions of how a relationship is established and monitored. also, for low - risk retail prospects, the central bank has gone on record to state that the potential customer does not have to offer proof of employment in order to open a bank account. the central bank of the bahamas has already placed its support behind this acams training initiative. it will allow the bahamas to make more necessary, qualitative process in perfecting its national aml / cft regime. for all of the bahamian financial sector regulators, and the rest of the financial services industry, this provides more concentrated opportunities for in country training. 1 / 2 bis central bankers'speeches i congratulate the founding steering committee and the executive board of the acams bahamas chapter and assure you of the central bank ’ s sustained support. thank you. 2 / 2 bis central bankers'speeches
introduce innovations in the financial markets to support and sustain its transformation as the theme of this conference ambitiously shows. ladies and gentlemen : it is now my honor and privilege to declare this conference officially open and to wish you fruitful deliberations. thank you bis central bankers ’ speeches

njuguna ndung ’ u : consolidating economic integration in africa remarks by prof njuguna ndung ’ u, governor of the central bank of kenya, at the 9th meeting of the association of african central banks ( aacb ) eastern africa sub - region, nairobi, 14 july 2010. * * * hon. uhuru kenyatta, deputy prime minister and minister for finance of the republic of kenya ; fellow central bank governors of the eastern africa sub - region ; the executive secretary general of the aacb ; chief executives of regulatory authorities in kenya ; distinguished guests ; ladies and gentlemen : hon. deputy prime minister and minister for finance, allow me to thank you most sincerely for finding time from your busy schedule to grace this important meeting in the calendar of central banks in the eastern africa region. your presence here today demonstrates the serious commitment of the government of kenya to monetary and financial integration in the continent as we strive to become a regional financial hub in line with kenya ’ s vision 2030. for instance, just this month, we witnessed the launching of the implementation of the east african common market. may i also extend a hand of welcome to my fellow governors from the eastern africa subregion present here today. i heartily thank you for finding time to be in nairobi. this is indeed a very great honour to the central bank of kenya and our country. i also warmly welcome the executive secretary of the aacb whose presence and contributions in the deliberations we look forward to. we also appreciate the presence of the chief executives of other financial sector regulatory authorities in kenya, whose presence here today signifies the all important synergy required between the different regulators in the process of financial integration. hon. minister, the abuja treaty envisaged the integration of the african continent through, among others, the strengthening of the sub - regional groupings and harmonization of national policies for the eventual evolvement of a monetary union in the continent. in line with this, the assembly of governors in the continent have been implementing the african monetary cooperation programme ( amcp ) since they adopted it on september 4, 2002 in algiers. the objective of this program is to put in place a common single currency and a common single central bank at continental level by 2021, at the end of a successful convergence process, in accordance with the african leaders ’ vision of consolidating economic integration in africa. commendable progress in the implementation of the amcp by the eastern africa sub - region has
our voices are heard. international groupings like the alliance for financial inclusion ( afi ) have recognised our work and other regions are bis central bankers ’ speeches trying to emulate what we are doing. we owe all that recognition and success to the piwg. i am sure a lot of these achievements will be highlighted during the course of this meeting. another major achievement in my view is that all of you here attending this meeting represent a pool of financial inclusion experts in the region. this is a key resource for our region and i would like to encourage us to make use of our regional experts so that we continue to build our pool of experts. financial inclusion activities in solomon islands ladies and gentlemen, let me briefly share some of the efforts we are making in addressing financial inclusion issues in solomon islands. our current focus is on the twin pillars of access to and use of financial services in the country. the question of access requires making financial services available and affordable to as many people as possible. at the moment financial services in solomon islands are available only in honiara and in the provincial centres. if we define access by say, less than 2 hours walk ( or paddle ) to the nearest financial services access point as the ideal, then more than 80 % of the solomon islands population is being denied access to financial services. this is huge challenge for the country. so the primary target in our national financial inclusion action plan is that by 2015 an additional 70, 000 people should have access to financial services in the country. in order to achieve this, we are focusing on technology as a means of financial distribution channels and community based approaches to promoting and delivering savings and credit activities. and to ensure that our legal framework supports these efforts, we have, with adb support, completed a review of our current laws and policies last year to ensure any legal impediments to financial services innovation are identified and addressed. the second pillar of our approach to financial inclusion is on the use of financial services. financial services and products should be used by anyone anytime. this means we have to unlock and remove barriers that deny ordinary people from using the available financial services. this requires further effort in two areas : first to enable people who are being denied using financial services because of legal and administrative barriers and secondly to assist people who cannot use and benefit from financial services because of lack of knowledge and understanding. our approach in trying to address both areas has been to identify and remove the legal and policy barriers that inhibit usage and to enhance people ’

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in helsinki and virtually, will help us in deepening our understanding of the global economy – including the dynamics driving the current great power competition, which always also matters to smaller countries like finland. thank you for your attention. 3 / 3 bis central bankers'speeches

amando m tetangco, jr : working together towards a stronger economy speech by mr amando m tetangco, jr, governor of bangko sentral ng pilipinas ( bsp, the central bank of the philippines ), at the security bank economic forum “ economic & business forecast 2015 ”, makati city, 30 january 2015. * * * the presentation this afternoon will start with a discussion on the global economic and financial developments and their possible implications for the philippine economy. then we will look at the growth experience of the philippine economy and the underlying factors that form the bases for the economy ’ s resilience. a look back to 2014 i was looking at the new logo of security bank. it shows two halves – just like the yin and the yang. two parts working and coming together. it ’ s an interesting depiction although of course, on the “ hard - court ” ( as in the basketball, or even in volleyball courts ), it would be a stretch to say that the greens would be above the blues for long periods. i must have a conversation with abet about his choice of corporate colors. the old security bank color was already the perfect one – blue! but seriously, two things coming together and being integral parts of each other. these are very similar to the themes that pervaded our global operating environment in 2014. in 2014, there were two themes that dominated the global operating environment – 1 ) uneven global growth and 2 ) divergent monetary policies in advanced economies. as the us economic growth continued to gain traction and the us fed subsequently ended its asset purchase program in october last year, markets began to interpret the fed ’ s statements to mean that it would begin “ lift off ” ( or raise the fed funds target rate ) sometime this year. in contrast, eu and japan remained barely able to eke out growth. by the ecb ’ s and the boj ’ s own pronouncements, they were willing to further expand easy monetary conditions to stimulate growth in their jurisdictions. ecb president mario draghi even pledged to do “ whatever it takes ”. so, in one part of the globe, you had the fed poised to tighten monetary conditions, and in another, you had the ecb and boj committing to provide more liquidity as needed. this combination ushered the shift in market sentiment – capital flowed out of eme assets ( the long - standing darling of investors ) toward us financial assets. this resulted in a
be another chapter of success, insya allah. on that note, i thank you again for being here to witness the launching of the labuan international business and financial centre. thank you.

zeti akhtar aziz : the global islamic financial market today – challenges and way forward luncheon address by dr zeti akhtar aziz, governor of the central bank of malaysia, at the annual “ the asset triple a awards for islamic finance ”, kuala lumpur, 6 july 2010. * * * it is my great pleasure to be here this afternoon on this occasion of the annual “ the asset triple a awards for islamic finance ” by the asset publishing and research, to deliver some remarks on the key challenges and way forward for islamic finance in the international financial system. islamic finance has experienced its most rapid pace of development in this decade demonstrating its competitiveness and resilience as a form of financial intermediation. while the islamic assets are now more than us $ 1 trillion, it is estimated that the global islamic finance industry will reach the us $ 2 trillion mark in the next three to five years. the sukuk market has become the most significant and vibrant segment in the international islamic financial system. issuers are seeing the sukuk instrument as an attractive alternative means for raising capital, whilst investors are increasingly seeing it as a new asset class in their investment universe. this has generated significant cross - border flows as funds are raised from beyond domestic financial markets and as investors diversify their portfolios into assets from other jurisdictions. the sukuk market currently stands at almost us $ 130 billion, with a growth rate of about 40 percent annually. despite a challenging environment, new issuance of sukuk in the global sukuk market rose by 43 percent to us $ 20 billion in 2009. however, developments in europe resulted in a more cautious market and the global sukuk issuance declined by about 20 percent in the first half of this year. in the coming period, this trend is expected to improve as the governments in asia and the middle east have already initiated the raising of funds for the implementation of infrastructure development and investment projects. this extensive interest in islamic finance from different parts of the world is driving the international dimension of islamic finance. this has contributed to the strengthening of financial and economic linkages between the more established financial centres of the western world and the newly emerging financial centres in asia and the middle east. this has thus contributed to the more efficient allocation of funds across borders from centres with surplus funds to regions with investment opportunities. it has also allowed for more inclusive participation regardless of size and stage of development. islamic finance now provides the range of financial products and services to
euro exchange rate. the pursuit of an exchange rate target could easily jeopardise the preservation of the price stability objective and therefore hamper real economic developments. it should also be noted that exchange rate fluctuations are often caused by structural or fiscal policy as well as divergent economic developments. monetary policy would be significantly challenged and its credibility put at risk, if such exchange rate fluctuations had to be contained by monetary policy. the absence of an exchange rate target does not mean that the ecb views the exchange rate of the euro as irrelevant or does not take it into account. on the contrary, the exchange rate is monitored and analysed as a potentially important monetary policy indicator. the success of the euro in its relatively early stage of life has led, in many places outside the eu, to suggestions that domestic monetary policy should be more closely linked to that of the eurosystem. suggestions range from pegging the exchange rate to the euro to the introduction of the euro as a parallel currency or even as a replacement currency. in principle, the ecb maintains a totally neutral position with regard to such developments. we will neither endeavour to strengthen the international role of the euro nor to prevent such developments from taking place. in this respect, i should like to emphasise that when formulating monetary policy the governing council of the ecb is bound by the mandate to ensure price stability in the euro area set out in the maastricht treaty. this means that developments in neighbouring european countries are taken into account to the extent that the outlook for these countries influences price developments in the euro area. however, the ecb cannot and may not assume any obligations with regard to monetary or general economic policies in other countries, irrespective of the role the euro plays in those countries or of the size of the economies concerned. i should like to point out that the maastricht treaty envisages a clear and transparent procedure which lays down the conditions for countries wishing to join the euro area. there are three stages. the basic prerequisite is that the country is a member of the eu which is linked to specific criteria. in addition, the country concerned is expected to join the exchange rate mechanism ii, for which it must similarly fulfil certain economic criteria. finally, the convergence criteria must be complied with, which should ensure that a candidate country wishing to join provides evidence of sufficient economic convergence with the euro area. in addition to sound public finances and a high degree of price stability, they must

the necessary competence? should other agents become involved? there is also a larger question in the background. how far should this development be pursued? or, expressed another way : what can be done to help households wishing to minimise their financial risks, for instance, as they approach retirement age? these are large, but important, question that are raised by current developments. it is important to deal with them in time. 5 / 5
##fp improvements. even if we consider these estimates as somewhat optimistic, welfare advances would be substantial. but how to get structural reforms right? there are in general two dimensions of structural reforms. first, and in principle the easier one, are the reforms that bring us closer to the efficiency frontier. that said, it is quite likely that most of the low hanging fruits of productivity gains from sectoral reallocation and imports of foreign technology have been collected and further improvements may require a new generation of reforms. this second generation are the reforms that expand the frontier. they encompass, among others, product market reforms, competition policy, labour market reforms, public finance and taxation ( including social security system ), human capital development, innovation policy, etc. can we and should we act on all or most of these different fronts simultaneously? probably. do we as economists and policymakers truly understand all the synergies, complementarities and marginal effects of different reforms? probably not to the extent that we would like. are we on the same boat when it comes to their positive gains and externalities? i would dare say yes. we also have to keep in mind the political economy dimension of the process. we need to ensure broad support for the reform agenda especially since there might be some short - term costs of certain reforms. in that sense, lacklustre support for market economy and democracy as well as low faith in justice systems in cee countries compared to long establishes democracies might complicate matters further. this is where policy transparency and communication plays an important role. clearly, not everything we do will always get full support from the broad public, particularly in the case of structural reforms with long - term gains and short - term costs, but sometimes boldness is rewarded beyond our expectations. 2 / 2 bis central bankers'speeches

considerations of being a small, highly globalised economy ”, central bank of ireland, financial stability review 2019 : i. [ 18 ] clancy, d. et al. ( 2023b ), “ reshoring production in small open economies ”, mimeo [ 19 ] makhlouf, g. ( 2022 ), “ remarks by governor gabriel makhlouf on the publication of the financial stability review 2022 : 1 ”, 15 june 2022. [ 20 ] ioannou, d. et al. ( 2023 ), “ the eu's open strategic autonomy from a central banking perspective. challenges to the monetary policy landscape from a changing geopolitical environment ”, ecb occasional paper no. 311 [ 21 ] central bank of ireland ( 2022 ), “ the central bank of ireland ’ s framework for macroprudential capital ”, june 2022. ©2023 central bank of ireland
to blossom into the future. thank you. bis central bankers ’ speeches

the other 8 asian economies. india has the potential to lead trade and economic growth and specialization in the south asian region. i note with great interest the developments under the landmark agreement to create a south asian free trade area ( or safta ), which includes bangladesh, bhutan, india, the maldives, nepal, pakistan and sri lanka. as i understand it, the safta, scheduled to come into effect on 1 january 2006, will more than double the size of the market in the region. implementation of the safta along with the needed reforms to facilitate intra regional trade could spearhead growth and investments within the region. these in turn could raise the profile of the south asian region as another pillar of growth of the global economy. we recognize all too well that the process of reform, deregulation, and trade liberalization takes time and a strong political will, as well as business sector understanding and acceptance of change. but the reform process in east asia has proven to be worth the efforts, as you can see from the fast growing intra - regional trade. many of these reforms remain to be completed, and we need to continue to press on with the reform agenda. but the changes from now on should not be as difficult, as public sentiment is supportive of the benefits of these reforms, in terms of the increased efficiency, predictability, and transparency to businessmen and entrepreneurs, both domestic and foreign. one just needs to cross that threshold. thank you for your attention.
it. future crises also may not replicate any of the past ones, hence history might not always be of help. complacency may slowly set in even as our memories of the bad times are gradually fading away. but, the challenge is how do we establish an implementable framework to deal with the emerging systemic risks at their incipient stages? i hope at the end of this conference you may come out with refined solutions to some of the challenges that lie ahead of us. 25. thank you all for your patient attention. bis central bankers ’ speeches

. the blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value. blockchains are an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. using this technology, certain innovative products which have come on the scene have excited a large section of people around the world. i am referring to the bitcoins phenomenon. the way the bitcoins have caught the imagination, generated interest, and gained value has led to some quarters predicting end of the currency system. i suppose these predictions about of death of banks and financial institutions, and also the currency have naturally aroused the curiosity at minimum and concerns among the regulators and central bankers around the world. innovations, admittedly, bring in positive changes in efficiency, productivity, quality, competitiveness, and market share, among other factors. however, as innovations usually result in paradigm shifts, they are typically disruptive. it takes effort and time to understand them. the associated dangers include untested effects, lack of clarity on long term effects, and can lead to misunderstanding and misusing the innovation. innovations can sometimes be bad per se ; sometimes even good innovations can be misused. innovations, which are by definition leveraging technology in unusual way, have the great potential to be disturbing the standard ways in which systems are operated. however, in that process while we do gain, it is not uncommon that these innovations do inflict pain on the society. therefore, a careful analysis of the pros and cons, a thoughtful ring - fencing of risks, closer study on pilot basis before scaling up, fine - tuning based on feedback, etc are required before we adopt such innovations. what are the downside risks of market place financing and blockchain technologies? market place financing links the fund raiser / s and fund provider / s. fine. that eliminates the need for a financial intermediary and therefore all the costs associated with that. however, who guarantees the good performance of the fund raiser / s and fund provider / s? who will enforce the contractual obligations? when each of them is faceless to one another, and is at great distance, even beyond borders, the issue gets complicated. therefore, market place financing may not be suitable for large amounts. it is a received wisdom in finance that after the initial rounds of acceptances and successes, the moment the rounds increase