to improve bank transparency, as well as strengthen the effectiveness of liquidity risk management and derivative products will complement these regulations farther. under such a policy, all players in the banking industry, including shariah, is expected to have sufficient space to maintain its intermediary function, as well as continue the implementation of prudential principles and risk management as a priority. distinguished guests, as i mentioned earlier, the cornerstone of our defense against a crisis is the banking sector. the economy is crisis resistant if its banking sector is crisis resistant. the banking sector i allude to is based on two pillars, namely good governance and good supervision. regarding good governance, i would like to stress one pivotal aspect. with the circumstances found pervading our financial and banking sectors lately, i am even more assured that human integrity and character, above all else, are determining factors. we can adopt a sophisticated risk management system and put in place a good supervision system, however, in the end the result is subject to the integrity and character of the administrators. no matter how good a system is it will not work if the administrators seek loopholes to abuse and exploit. in the future, bank indonesia will strengthen its screening process based on the character and integrity of our bankers, and certainly, our supervisors. bank indonesia will also impose strict sanctions for those who abuse their authority. psp and bank management must take full responsibility, bound by prevailing laws and regulations, for incidents that occur at their respective banks. improvements to bank resilience closely correspond to the quality of bank supervision. with this in mind, i am happy to report that bank indonesia is currently undertaking steps to augment bank supervision. the repositioning and revitalization of personnel is currently underway. supervisory procedures and methods are constantly reviewed to focus on issues that determine the wellbeing of a bank. in 2009, we plan to boost the effectiveness of bank supervision through two key measures. the first is to complete the risk - based supervision framework by improving the risk assessment process, oversight, auditing and system surveillance. ameliorating the quality of risk management, particularly liquidity management and control over new products and bank activity, represents the mainstay of ongoing endeavors. this is considered sufficiently urgent to be handled during the current financial turmoil. second is to improve the function and organization of supervision both at head office and all branch offices of bank indonesia. we will continue to strengthen the correlation between findings and actions ; between audit results and management steps

. we will form a panel team to improve audit quality and managerial steps. this year, we will also increase our budget for training. these measures are expected to secure our pathway through this crisis period as well as also build more solid foundations for better bank supervision in the mid term. closing distinguished guests, this brings me to the end of my speech here this evening. the ship that represents our national economy is currently navigating a tempestuous ocean. the ship itself is relatively robust, certainly stronger than the ship we sailed eleven years ago. however, the current weather front dwarfs that of eleven years ago. notwithstanding, i am convinced we can weather the storm. the key is that the ship ’ s crew and passengers are unified and open to help one another based on trust. i am confident that this is our joint resolution, as the alternative is too expensive for our country, as transpired eleven years ago. i sincerely wish you all a productive year ahead and once again, happy new year for 2009. hopefully during this new year, god almighty will bless us and light our way towards a better and more prosperous future. thank you. wassalamu ’ alaikum wr. wb.