zeti akhtar aziz : nurturing young talent in malaysia speech by dr zeti akhtar aziz, governor of the central bank of malaysia ( bank negara malaysia ), at the kijang emas scholarship award ceremony for high achievers, kuala lumpur, 6 may 2014. * * * while the global economy continues to face uncertainties and significant challenges, the malaysian economy has every potential to remain on a steady growth trajectory and move up the value chain. this is however only achievable if we can nurture the required talents. talent development strategies and implementation is therefore one of the key priorities of the nation. we need to invest in our talent pipeline the kijang emas scholarship award is an eminent scholarship award reflecting the bank ’ s commitment in creating a sustainable talent pool for the nation. the kijang emas scholarship is distinct from the kijang scholarship whereby the recipients are given the freedom to pursue any field of study at top - notch universities in any country of their choice. the bank also does not impose any bond on the recipient except that they return, contribute and take part in the progress and development of our beloved nation. to date, 42 high potential talent have been awarded the kijang emas scholarship. the recipients are currently pursuing their studies in diverse field of studies including medicine, dentistry, genetics, biochemistry, dietetics, physics, engineering, law, psychology and architecture in top universities around the world such as m. i. t., university of pennsylvania and the university of cambridge. thus far, 6 kijang emas scholars have completed their studies and have returned to serve the nation, while another 7 of them are expected to complete their studies in the next six months. for the 2014 kijang emas scholarship, we received a total of 331 applications, representing 82 % of the 405 straight a + students in the country. from this, the bank had shortlisted 26 students based on their spm results and also their level of involvement in co - curricular and sports activities. the students then underwent a rigorous evaluation process under the bank ’ s “ kijang academy ” assessing their technical and leadership competencies, as well as their values. we are pleased to award 3 outstanding students the kijang emas scholarship this year. having just completed their spm, justin and nurizati will be enrolled into the pre - university programme, whilst alicia will be pursuing her undergraduate studies. alicia has successfully obtained a conditional

the determination and perseverance of a series of visionary leaders. and we owe it to the effective interplay between european institutions. the european parliament played a crucial role at the pioneering stage. the parliament was the first european institution to make proposals for a single currency, back in 1962. and in the past ten years, since the establishment of the ecb, our institutions have maintained a very close and fruitful dialogue. this dialogue has involved over 50 hearings of the members of the executive board before this parliament. the dialogue between the parliament and the ecb is a very important exchange in terms of accountability, allowing the ecb to explain its decisions and actions to the general public and their elected representatives. ladies and gentlemen, during its first years of existence, the euro had to face major trials : the establishment of a sound and credible central bank and the creation of a stable new currency inspiring confidence. these challenges were overcome successfully and the euro is today firmly established. hence, this is certainly a time for celebration. but it is no time for complacency. current challenges are pressing, and new challenges will arise. the continued success of emu will depend on how these challenges are addressed. this is the main responsibility for all authorities involved. let me mention three major challenges. first, the financial crisis. the crisis has revealed fundamental weaknesses in the global financial system. we are playing an active part in the global efforts to address these weaknesses and redesign the regulatory and institutional framework. a lot of work remains to be done. second, economic union. the solidity of the single currency rests on two pillars : a monetary policy firmly geared towards price stability and a set of sound economic policies. the particular challenges on the economic front include the firm and credible implementation of the stability and growth pact, constant efforts to render our economies more productive, innovative and dynamic, and the avoidance of major competitive divergences within the euro area. third, enlargement. when we started out ten years ago, we were 11 countries. as of 1 january this year, we are now 16 countries. this says a lot about our historic endeavour. handling enlargement in the best fashion possible is a very inspiring and demanding challenge for all of us. the euro is a historic achievement. what matters most today is our responsibility for the future. new challenges are arising. if these challenges are faced with utmost lucidity and audacity, they can generate the powerful ideas which jean monnet referred to, and which