nor shamsiah perseverance mohd yunus : mastery, adaptability and remarks by ms nor shamsiah mohd yunus, governor of the central bank of malaysia ( bank negara malaysia ), at the 2018 kijang emas scholarship award “ mastery, adaptability and perseverance ”, kuala lumpur, 21 september 2018. * * * when i entered university in australia many years ago, the times named the computer the ‘ man ( or in this case, machine ) of the year ’. it was a significant signal in public consciousness on the importance of the computer. the byline was, “ the computer moves in ”. the world then, as is now, was a world in a state of constant change. today, we see that technology is at the forefront in transforming almost every aspect of our lives. it is doing so at an unprecedented and relentless pace. this is exciting, but also for many, it brings about the feeling of trepidation, discomfort and uncertainty. therefore, as both of you begin your next chapter of your life, i encourage you to make the most of your years in university, to not only excel in your chosen discipline, but also to absorb lessons that will serve you well in life. let me just mention three today : mastery, adaptability and perseverance. first, on mastery. even in a world where knowledge decays quickly, mastering a field of knowledge is the foundation in building one ’ s expertise and credibility. mastery is not mere information accumulation. it is the ability to understand the inter - linkages between complex and evolving situations. it means being able to integrate and think critically when there are only pieces of information. it means being able to provide breadth of perspective anchored by depth. for us in bank negara malaysia, mastery of economics and finance is what helps us differentiate the ‘ signal ’ and the ‘ noise ’ in economic policymaking and financial regulation. it also helps us to differentiate the symptom and the root cause in the supervision of financial institutions. it also means learning the lessons from history and avoiding the same mistakes within the context of our operating environment. thus, i encourage you to focus and follow your curiosity in exploring the depths of your field of study. there is no end to learning, and may your thirst for knowledge drive you on. have the humility to recognise that we never stop learning. as a chinese proverb goes, “ learning is a treasure that will follow its owner everywhere.

outstripping financing growth to households and large corporates. the approval rate for financing applications by smes of 75 %, has also been consistently higher than that for all customers. the share of sme financing over total business financing has steadily trended upwards to more than 50 % from 38 % in 2010. this reflects an increased focus on smes as a strategic growth driver for financial institutions. according to the latest bi - annual survey by sme corporation malaysia ( sme corp ), 97 % of smes which applied for financing from fis affirmed that they were able to obtain financing. of this, 27 % were first time borrowers and 23 % were without collateral and credit guarantee. nevertheless, our work is far from done. there are pockets of smes, particularly the start - ups and those operating in new and high risk segments that continue to face challenges in obtaining financing. when businesses have insufficient access to financial products and services, they may be deprived of a chance to pursue new business opportunities, and as a nation, we are deprived of the benefits of their potential contributions to the economy. 1 / 3 bis central bankers'speeches over the past 45 years, cgc has played a crucial role in bridging the gap between financial institutions and underserved smes via its innovative products and services. i commend cgc ’ s efforts for its latest venture in developing a dedicated online referral platform that connects the banks and the smes, known as imsme. the imsme has the potential to transform the sme financing landscape in the country, by matching smes ’ financing needs with suitable products, thus reducing search costs and improving financing prospects for smes. the implementation of imsme exemplifies the importance of technology in increasing smes ’ financing access. smes are now able to submit financing applications 24 hours a day, without the need to visit individual financial institutions to search for suitable product offerings. the platform also facilitates the partnership between key collaborators to deliver end - to - end solution for smes that face higher hurdles to obtain financing. with the financial advisory team in imsme, unmatched or unsuccessful applicants will be further motivated to enhance their capacity and capability with relevant trainings aimed at improving their chances to secure financings or loans in the future. the imsme complements existing initiatives in the sme financing ecosystem, such as bnm ’ s fund for smes, alternative financing channels such as equity crowdfunding and