new ideas and identify opportunities to deepen collaboration at the regional level. these are important matters as it enables policy makers to formulate new development policies and better strategies. it has been a very productive symposium. the dedication and commitment expressed by those who have participated so actively in the various sessions should energise and inspire us all to strive even harder and achieve more to improve the well - being of our communities. on behalf of bank negara malaysia, let me take this opportunity to express our thanks to the oecd and infe, and the moderators, speakers and discussants in making this event a success. i would also like to thank all delegates for your active participation throughout this symposium. i hope you have gained valuable insights for charting your own national strategies for financial education. enjoy the rest of your stay in malaysia, and we look to the opportunity to welcome you back in the future. bis central bankers ’ speeches

muhammad bin ibrahim : link between financial education, consumer protection and financing inclusion closing remarks by mr muhammad bin ibrahim, deputy governor of the central bank of malaysia ( bank negara malaysia ), at the malaysia - oecd high level global symposium on financial well - being, kuala lumpur, 1 october 2015. * * * as this year ’ s global symposium on financial well - being comes to a close, i thought it is appropriate to contemplate the world surrounding us. i want to make a short remark on the link between financial education, consumer protection and financing inclusion. financial education, consumer protection and financial inclusion is a tractable endeavor if we work in a collaborative manner. they are means to a noble end. properly synchronized it would create a sustainable growth and financial stability, a prerequisite to continuously improve people ’ s lives. for the full promise of financial inclusion to be realised, financial education is a powerful tool to equip consumers with the financial competence to manage their finances more effectively and improve the overall well - being of individuals and households. it also means that financial education must enable consumers to liberate themselves by equipping them with the ability to make informed decisions thus ensuring their meaningful participation in the financial system. the focus on strengthening the ability of consumers and businesses to use financial services confidently and effectively must therefore be an important part of any effort to promote financial inclusion, to make a real difference to people ’ s lives including the two billion adults globally, who still do not have access to financial services. the role of financial inclusion in supporting sustainable economic growth is particularly important now, given the global economic landscape where countries continue to search for an engine of balanced, sustainable and long - term growth. financial inclusion provides low - income households with equal opportunities to save and invest securely, borrow for productive activities and buffer against unforeseen shocks. the utilisation of relevant financial services improves households ’ income and empowers them to attain healthcare, education and social mobility, effectively reducing social and economic inequality. research ( imf ) has shown that countries with lower inequality tend to have higher and more durable growth. there is also evidence that access to credit spurs entrepreneurship and job creation, and improves the economic well - being of households. inculcating financial capability and discipline so that all segments of society have the ability to make sound decisions regarding saving, use of credit, investment for education and retirement, and protection against adverse events is one fundamental way to raise financial well - being for