zamani abdul ghani : developments in electronic money management welcome address by mr zamani abdul ghani, deputy governor of the central bank of malaysia, at the official monetary and financial institutions forum ( omfif ) and lafferty group – world roundtable on electronic money management “ from practice to policy ”, kuala lumpur, 15 may 2010. * * * on behalf of bank negara malaysia, i am most pleased to welcome all of you to this gathering on “ world roundtable on electronic money management ” – “ from practice to policy ”. this event is jointly organised by bank negara malaysia, the omfif and the lafferty group. as you may be aware, bank negara will also be hosting the first ever asia omfif meeting, which will take place at bank negara ’ s lanai kijang over the next two days. this world roundtable on electronic money management, thus precedes the asia omfif meeting. it provides an excellent opportunity for the industry to have an interactive dialogue with regulators and practitioners from around the world to exchange ideas, experience and perspectives on developments in the area of electronic money and electronic payments. economic efficiency and cost savings rapid technological advancements and innovation in the last two decades had revolutionised the payment landscape. in the retail payments area, electronic money in the form of stored value cards and other access devices has grown rapidly. businesses around the world are also intensifying their efforts to cut operating costs and increase efficiency to improve their long - term competitiveness and sustainability. these developments, among others, have intensified the demand for electronic payment. as electronic payment facilitates the automation of payables and receivables, costs associated with paper and labour intensive processes, including potential errors in processing, would be sharply reduced or eliminated. apart from lowering costs, electronic payment allows for better resource allocation, thus raising productivity and profitability of businesses. electronic payment also improves cash flow forecasting, thereby resulting in more efficient liquidity management. furthermore, customer service quality would also be enhanced with the provision of faster and more convenient means of payment. businesses that respond to these opportunities and are effective in delivering their services will generate greater value for their customers and achieve competitiveness differentiation. the faster electronic payment displaces the use of cash, the less would be the need for the costly printing and supply of currency notes and coins. the same is also true for physical cheques. the strategic management of currency is an increasingly challenging

nor shamsiah mohd yunus : dfis of the future - maximising development impact welcome remarks by ms nor shamsiah mohd yunus, governor of the central bank of malaysia ( bank negara malaysia ), at the world bank and bank negara malaysia forum on performance measurement for dfis " dfis of the future : maximising development impact ", kuala lumpur, 9 august 2018. * * * i would like to thank the world bank for collaborating with bank negara malaysia to organise this important event as we think deeply about the future of development finance, especially on how we can elevate the role of development financial institutions in malaysia to achieve greater development impact. this is timely as the country is charting its future direction. history tells us that economic development is a collective responsibility. the success story of malaysia ’ s development journey over the past six decades is a testament to this. our goal has always been to achieve sustainable and inclusive growth, consistent with the 2030 agenda for sustainable development advocated by the united nations. thus, the development priorities of the nation and the materialisation of the 17 united nation ’ s sustainable development goals ( sdgs ) will be key for us over the next few years. to this end, development financial institutions or dfis in short, play a very crucial role. the first dfis in malaysia were established in the 1960s and 1970s as specialised financial institutions with specific mandates to develop strategic sectors, spanning agriculture, infrastructure, small and medium enterprises, export - oriented and high - technology industries. since then, dfis have contributed to the economic transformation of malaysia and helped to reduce inequality. for example, through them, the unserved and underserved segments of society have increased access to financial services. rural communities have benefitted from microfinance initiatives and agent banking services. last but not least, dfis have contributed to macro - economic stability through the provision of counter - cyclical financing during periods of financial instability. the strategic role of dfis make them well placed to contribute to the development priorities of the nation, and assist in the materialisation of the sdgs. specifically, dfis can play an important role in contributing to the advancement of the following sdgs : no poverty, zero hunger, good health and well - being, quality education, clean water and sanitation, affordable and clean energy, industry, innovation and infrastructure, reduced inequality, sustainable cities and communities and climate action, amongst others