to make enquiries, obtain advice and raise their complaints with financial institutions. these mobile applications are customised for use in malaysia and can be downloaded by individuals at no cost. it is envisaged that wider use of these applications will contribute towards enhancing financial competence. the financial education initiatives in malaysia has been advanced through collaborative efforts by the public and private sectors. key agencies involved have included the credit counselling and debt management agency, the financial industry, consumer associations and the employees provident fund ( which has more than 14 million contributors ) to ensure that messages on financial management address all the key issues in savings, debt, bis central bankers ’ speeches investment and protection. these strategies are pursued together with the efforts to promote financial inclusion and to ensure fair treatment of financial consumers. it is important to recognise that the financial industry itself plays a pivotal role in helping consumers improve their financial well - being. the global financial crisis significantly undermined confidence in the financial system, and the discovery of ethical lapses that continue to be reported today has further eroded public trust in financial institutions. there is an urgent need to restore faith in the utility of financial services, firstly through the demonstration of fair and responsible practices and reinforced with the provision of valueadding products and services that are meeting the real needs of consumers and businesses. financial institutions with their extensive reach and customer relationships are in a unique position to have a more significant role in advancing the financial education agenda. in malaysia, this has included providing technical support and materials for teachers to improve their knowledge and increase confidence in teaching financial matters in schools. financial institutions have also adopted more than 10, 000 schools across the country under the school adoption programme with wide ranging activities in money management for the children. the financial institutions also work closely with the credit and debt management agency in the implementation of financial education programmes for adults. today, the focus on financial capability has become a global agenda. this has provided opportunities for policymakers to learn from their peers across countries and leverage on the international network of expertise in addressing common issues and challenges. this symposium is a great example of realising such opportunities. the possibilities for meaningful cooperation at the regional and global levels are tremendous. this has already included research, technical assistance and guidance for policymakers. leveraging on technology, financial education applications can be developed, tested and translated for adoption in different countries. international collaboration can not only be for training programmes, but also on the access to the network of international experts through online platforms and communication channels. i would

experience finance. in this highly digitalised era, stakeholders are becoming better at discerning the contribution of financial sector to the economy and society.'empathy'will ensure that financial institutions are closely attuned to the non - homogenous needs of different segments of society and the economy, and understand how to service them effectively. particularly when working with the vulnerable segments, financial institutions must consider how consumers can be empowered to make better decisions that improves their financial well - being and protect themselves against risks. as an example, the blended finance programme introduced by the bank, itekad, integrates mentoring and upskilling within the programme to help participants build knowledge and experience in managing finance. this helps improve sustainability of the participants'business as well as the programme itself. conclusion in conclusion, i would like to share this quote from erica dhawan, " i thought i had to do it all, but in fact, i only had to do what truly mattered and made a difference ". i trust that the deliberations from this programme will reinforce what is already crystal clear – that 2 / 3 bis - central bankers'speeches is for financial sector to embrace sustainability and value - based finance. what remains is for financial institutions to internalise the impact of the transition for businesses, customers, and stakeholders, and drive transformation in pragmatic and meaningful ways. with that, i wish all of you an insightful and productive programme. thank you. 3 / 3 bis - central bankers'speeches