of the policy makers and practitioners to find the right solutions for various groups of people. ladies and gentlemen, i truly believe that this seminar would allow an invaluable opportunity for us to learn how to solve these puzzles from honorable speakers who have come a long way to share with us their enriching experiences and lessons - learnt. the achievement of effective financial education and behavioral change would eventually drive the global community towards a more financial - literate and disciplined population who would help ensure sustainable growth and equality in our society. lastly, i wish the seminar a great success. i also wish to express my sincere appreciation for all of your endless efforts in promoting financial inclusion and financial literacy. thank you. bis central bankers ’ speeches

prasarn trairatvorakul : financial inclusion and financial literacy in asia opening remarks by dr prasarn trairatvorakul, governor of the bank of thailand, at the oecd / thailand seminar on “ financial inclusion and financial literacy in asia ”, bangkok, 16 december 2014. * * * mr. andre laboul, chair of the oecd international network on financial education, distinguished guests, honorable speakers, ladies and gentlemen, good morning, i would like to start by welcoming you all to bangkok. it is a great honor for the bank of thailand to co - host the oecd seminar on financial inclusion and financial literacy in asia with our partner, the securities and exchange commission of thailand. and, it is my great pleasure to deliver the keynote speech at this very important event. many of you might question why the central bank governor is here at this forum on financial inclusion and financial literacy, as the governor should be more worried about the slowdown of growth in major economic sectors or macro - economic policies aimed at stimulating thailand ’ s gdp at this very challenging period in our country. the reason i am here today is that financial inclusion and financial literacy are the pre - requisites for solid development of the national economy and a sound financial system. ladies and gentlemen, the ultimate goal of the bank of thailand, as well as of other central banks, is to ensure sustainable economic growth which will enhance the well - being of our people. while assuring the progress of the financial system and well - established infrastructure in thailand, we also recognize the importance of consumer empowerment in our financial sector. as a consequence, we established the financial consumer protection center or fcc in 2012 to promote consumer protection. one of the fcc ’ s key tasks is to improve financial literacy of consumers. over the past few years, the fcc has continually been delivering financial education within its capacity through creative tools and communication channels. the fcc has been sending messages that would help shape consumers ’ behavior towards responsible finance practices, which would consequently lead to financial discipline of the entire nation. nevertheless, the attempt to improve people ’ s behavior to save and spend wisely has not yet been fully accomplished. household debt is still high at 70 to 80 percent of gdp for the past two years. crucial financial information and knowledge provided at point - of - sale were often ignored by customers. moreover, people still seek loans from alternative sources such as from the informal sector where interest rates are incredibly high and debt