muhammad bin ibrahim : banknotes exhibition in malaysia opening remarks by mr muhammad bin ibrahim, governor of the central bank of malaysia ( bank negara malaysia ), at the launching of “ works on paper : art inside the wallet ”, kuala lumpur, 4 august 2016. * * * if you consider yourself to be a typical person, chances are you would never take the trouble to look at your banknotes closely unless you are in a situation where your banknote are rejected by the cash deposit machine. a typical response in a situation like this is to check your money more thoroughly to see if it is a genuine, fit and useable. otherwise, the interest of typical person in banknotes does not go beyond their wallet. this attitude towards banknotes is not surprising and even understandable, but i hope this exhibition of world banknotes at bank negara museum and art gallery today will spur some interest among members of the public on the intricacies of banknotes of our country and the world over. today we are presenting, what we thought, the 30 most innovative banknotes from around the world, printed in the past two centuries, to show why there is more to banknotes than meets the eyes. banknotes of any nations are unique and represent the identity of the issuing country - and not surprisingly, to most people banknotes are only second to the national flag as the most identifiable and recognisable icon of the country. which is why central banks and monetary authorities spend considerable resources and efforts in designing their banknotes not only, to be as aesthetically pleasing and attractive as possible, but more importantly, to appropriately portray the unique identity of their respective countries. throughout history, banknotes incorporated significant natural and cultural aspects of the country, encompassing nature, history, society, economy and technology. bank negara first issued currency in 1967. and since then, uniquely, our banknotes have always featured the first yang di - pertuan agong, tuanku abdul rahman ibni almarhum tuanku muhammad on the obverse to signify the stability and reflect the unity of our country under the system of constitutional monarchy. on the reverse, however, our banknotes have had different icons over the last five decades, with the most recent banknotes series aptly themed “ uniquely malaysia ”, due to the icons that can be found exclusively or largely in malaysia. it has been a practice for most countries to change banknotes icons from time to time, and to include new theme

encik abdul rasheed ghaffour : shaping the future starts now speech by mr encik abdul rasheed ghaffour, deputy governor of the central bank of malaysia ( bank negara malaysia ), at the launch of the financial management for retirement module " shaping the future starts now ", kuala lumpur, 7 april 2017. * * * importance of financial literacy there is a growing concern on the low financial literacy level of malaysians as measured by financial knowledge, attitudes and behaviours. based on the financial capability and inclusion demand side survey conducted by bank negara malaysia in 2015, the main observations on the state of financial literacy of malaysians can be described by : a. first – the majority of malaysians have inadequate knowledge on financial matters to enable them to make informed financial decisions, particularly among the vulnerable groups ; b. second – a significant majority of malaysians display short - sighted tendencies and are inclined to ‘ live for the moment ’ – that is to only focus on instant gratification at the expense of long - term financial planning ; c. third – more than 75 % of malaysians find it difficult to even raise rm1, 000 to meet emergency needs ; d. fourth – only a quarter of malaysians have any form of investment ; and e. fifth – most malaysians indicated that they will face financial pressure should there be a loss of income. therefore, building the financial capability and literacy of malaysians is certainly a priority for the nation. what we want to achieve is to improve people ’ s ability – to manage money well – through their entire life cycle, and their ability to handle periods of difficulties. financially literate population – will help to improve the well - being of individuals and households ; ensure a sound and competitive financial system ; as well as contribute to the sustainable growth of the economy. let me explain further on the importance of elevating financial literacy : a. for individuals and households – financial literacy has become a key life skill. those who go through life by making sound financial decisions – will potentially be more resilient and end - up with a much higher standard of living throughout their lifetime, including during retirement. with the right knowledge and skills – individuals can live within their means ; manage finances ; and improve chances of achieving their ultimate financial goals. a financially literate malaysian – would be aware of the importance of long - term financial planning and will actively save for the future. b. empowered financial consumers – is an important element in