and to have any inaccurate information corrected. any dispute resolution process should be timely and effective, and should also be covered in the consumer banking code that abs is currently working on. second, it is also important that individual privacy is respected and customer data are not misused for purposes other than what they were originally intended for. a good starting point is the principle of reciprocity on data usage, which all participating members to the bureau will need to adhere to. high standards of confidentiality is also expected of both the bureau operators and participating members. the abs will continue to work with mas to ensure that these principles are observed. the launch of the consumer credit bureau will mark the beginning of a new risk management process in singapore. it will further bolster the integrity and transparency of singapore ’ s financial sector. apart from ensuring that our regulatory framework is progressive and our infrastructure is world class, mas is also taking an active approach to promoting industry best practices in risk management. the guidelines that we have introduced are steps in this direction. this risk conference is another such initiative. the objective of organising such a conference is to highlight emerging fields in risk management by bringing together risk practitioners and academics, to share their experiences and exchange ideas. such a forum will help the industry and regulators keep abreast of the latest developments in financial risk management i hope you will find this first risk conference that mas has organised useful and fruitful. thank you.

tharman shanmugaratnam : moneysense launches new programmes to reach more singaporeans speech by mr tharman shanmugaratnam, deputy chairman of the monetary authority of singapore, at the launch of the moneysense 2006 roadshow, singapore, 31 march 2006. * * * distinguished guests friends from ntuc and various community organizations ladies and gentlemen boys and girls introduction 1. i am pleased to launch the inaugural moneysense 2006 roadshow, which seeks to bring financial education to singaporeans from all walks of life. moneysense has done well 2. moneysense is on a roll. since its launch in october 2003, it has seen over 140 talks, seminars and workshops on financial education, attracting over 15, 000 participants. it has also published 16 consumer guides with a total circulation exceeding one million. 3. these achievements are results of collaboration between government, industry, community groups and our media partners. i encourage moneysense to build on and expand these strong partnerships, and bring financial education to even more singaporeans. 4. let me now touch on a few new programmes that moneysense has lined up this year. moneysense launches new programmes to reach more singaporeans moneysense 2006 roadshow 5. today's moneysense 2006 roadshow presents simple financial education messages and tips to adults and children through fun activities. a simple game of shooting basketballs into nets from different distances is used to highlight risk - return tradeoffs. there is also a supermarket contest to illustrate the importance of spending within your budget, plus a chef to show you how you can cook up a storm without spending a bomb. 6. there are plans to bring these activities to other parts of singapore, and several community centres are in discussions with moneysense. important role of media 7. the media is still the most effective channel for financial education. in the national financial literacy survey conducted by moneysense, 54 % of the respondents said they were interested to learn about financial education through mass media. 8. i am glad the local newspapers have been very supportive in running moneysense articles on a regular basis. the straits times, lianhe zaobao and berita harian have been doing so regularly for more than two years. other publications like today and smart investor have also begun to run regular moneysense columns. i would like to thank all of you for partnering us in this important effort, and i would like to see this continue. 9.