kong is one of the first places to offer such security measure to bank customers. so far the implementation of two - factor authentication has been progressing satisfactorily. all banks offering high - risk retail internet banking transactions will allow customers to apply for two - factor authentication from next month. individual banks may offer different two - factor authentication methods to customers. three common methods being adopted by banks in hong kong are digital certificate, security token - based one - time password and sms - based one - time password. to help you better understand the various methods, we will have a brief demonstration to illustrate these methods towards the end of the press conference. a series of promotional activities will be launched by the banking industry and individual banks from june 2005 onward to help customers to fully understand this security measure. mr he will highlight the key features of the consumer education programme to you. two - factor authentication strengthens the security controls of internet banking and protects bank customers from internet banking frauds. we are confident that with the joint efforts of the banking sector, bank customers, the police and the hkma, internet banking will continue to flourish under a safe and sound environment in hong kong.

yandraduth googoolye : leasing – fuelling the economy address by mr yandraduth googoolye, first deputy governor of the bank of mauritius, at the launching ceremony of the conference “ leasing : fuelling the economy ”, organized by the association of leasing companies, port - louis, 6 october 2009. * * * ladies and gentlemen good morning at the outset i must congratulate the association of leasing companies, mauritius, for coming out with this initiative of organising a conference to underscore the significance of leasing as a vehicle of economic development. i am happy to note that the association, intends, among others, to play an educative role of increasing awareness of the benefits of leasing and asset finance to specific legislative and business audiences as well as to the general community and that this conference is being organised in furtherance of this objective. i do recall that mr jugurnauth had during one of the meetings with us some time back mentioned about the association wanting to hold this conference and had sought our support. i had told him then that the bank as a regulator would support such efforts. a study by international finance corporation ( ifc ) observes that leasing plays an important role in promoting a strong and sustainable private sector in emerging markets, particularly as it supports underserved markets, such as micro, small, and medium enterprises, to gain access to finance. moreover, in emerging markets, leasing can be a major financing tool to enable growth and investment in infrastructure, construction and the services sectors. leasing is also seen as a favoured vehicle for smes as it bridges a significant gap in their access to finance arena. this is because, • firstly, as an asset - backed term financing product, leasing helps avoid need for collaterals ; and, • secondly, leasing institutions are expected to develop or possess critical skills that give them a strong comparative advantage on the sme client segment. this seems to be the case in mauritius too which is perhaps why the government chose the leasing companies to channel its assistance to the sme sector as part of the stimulus package in the wake of the global crisis. as a base definition, leasing can be considered as a written agreement under which a property owner allows a tenant to use the property for a specified period of time and rent. however, over time leasing has evolved into a method of financial intermediation where people who have capital or access to capital buy assets for use by economic operators in need of those assets. as this