nominal gdp growth of 7. 7 % and one of the highest in asia. clearly, malaysia is a regional profit centre where foreign investments are protected and is allowed to operate in a conducive environment. more importantly, profits by investors are freely movable. malaysia does not impose any restriction on the repatriation of profits, even during difficult times. a fact sometimes missed by analysts. even during the 1997 crisis, we did not restrict the movement of profits from malaysia. our compass in attracting investment has always been guided by seeking quality, rather than quantity, of investments. our rules and treatment are fair to all genuine investors. any incentives 1 / 6 bis central bankers'speeches granted to both foreign and domestic investors are subject to stringent performance requirements. this ensures adequate safeguards for the goals of the incentives and underscores our fair treatment to all. this would also create a relationship built on the principle of mutual reinforcement, beneficial to both malaysia and its partners. a growing economy which parallel global development and growth. the malaysian economy has always been very well run. it has bright growth prospects, in the immediate future and in the longer term. we have been one of the fastest growing economy in the last decade. our economic growth has consistently outpaced global growth since the transatlantic financial crisis. comparing average growth rates since then, malaysia ’ s growth rate has been 170 basis points higher than the global economy, growing faster by 38 % to be exact. in the region, we are among the fastest - growing middle - income economy. i am quite confident that this trend is set to continue as we move forward. in the first quarter of the year, malaysia grew by 5. 6 %, surpassing market expectations. growth has been lifted by the stronger domestic demand with additional impetus from exports. our export performance is generating greater positive spillovers to the domestic economy. judging by these, the economy is poised to register stronger growth in 2017. many factors account for the sustained economic performance. a key reason is our economic diversification. while we were once an export - driven economy, our resilient domestic demand has served as a strong anchor of growth when external demand became challenging in the aftermath of the trans - atlantic financial crisis. we have a long track record of sound macroeconomic planning and management. today, let me focus on international reserves. malaysia ’ s management of its international reserves has always been undertaken with integrity and prudence. under meticulous management, the size of our foreign exchange

jessica chew cheng lian : credit reporting and risk management training welcoming and opening address by ms jessica chew cheng lian, assistant governor of the central bank of malaysia, at the third credit reporting and risk management training, kuala lumpur, 26 september 2011. * * * it is my great pleasure to welcome you to malaysia and to the third series of the workshop on “ credit reporting and risk management training ”, jointly organised by the international finance corporation ( ifc ) and bank negara malaysia. this annual workshop has provided an important platform for experts from the different parts of the world to exchange views and experiences on developments in the credit registry landscape and the role of credit registries in preserving financial stability and in contributing towards economic and social development. indeed, centralised credit information registries, or credit bureaus, are a critical part of the infrastructure that facilitates and enables the efficient expansion and outreach of credit intermediation in an economy. this is now well - supported by empirical evidence. a wellfunctioning credit bureau serves as a lubricant to the intermediation process by overcoming one of the fundamental challenges with any credit market, that is the asymmetry of information between lenders and borrowers. the wider use of credit information can make an important contribution to prudent financial management, not just among borrowers by minimising incidences of excessive borrowings, but also among lenders by encouraging greater discipline during periods of exuberance when lenders may be tempted by rapid rises in asset prices and perverse incentives, to throw caution to the wind. it also has an important role in promoting access to financing for various segments of the society. borrowers who maintain a good credit history and demonstrate strong financial discipline are able to leverage on such “ reputational collateral ” to secure borrowings at more favourable terms and rates. credit registries have also been used extensively to support enhanced banking and financial market supervision. there can be little doubt, particularly after the events of the sub - prime mortgage crisis, that the accumulation of credit that is premised on informed credit decisions, whether taken at an individual, institutional or system - wide level, will contribute to the stability of the overall financial system. while the collection of credit information on borrowers in malaysia started many years ago, it was not until the aftermath of the asian financial crisis that a centralised credit information registry was realised. the crisis proved to be a defining moment for malaysia on several fronts and was instrumental in advancing critical reforms in