tapping into this market. it is hoped that this move will expedite the transition of informal groupings into the formal financial sector and enable more people gain access to a wider range of quality and affordable financial services. i want to stress here, as one of our colleagues noted last year ’ s commemoration that financial service providers have to provide the products and services that the people want and not what providers think they want. distinguished guests, recognising that financial exclusion is more prevalent in rural areas, the bank of zambia has adopted various initiatives to improve rural financial inclusion in line with the national rural finance policy and strategy of 2012. these initiatives include : 1. leveraging digital financial services for general financial transactions ; and 2. facilitating expansion of general services access points network of health, education, and agricultural organisations into financial access points through partnership and government support. in line with this year ’ s world savings day theme : ‘ be money smart : savings give life a lift! ’, i urge members of the public to select and demand appropriate formal financial products for their key life events, such as, births, education and health, and to be aware of the obligations and responsibilities associated with the products. i encourage financial service providers to take time to explain clearly and simply the terms and conditions of financial products so that consumers can understand their rights and obligations. keynote speech by dr denny kalyalya, governor, bank of zambia at the 2019 world savings day event on 31st october 2019 at the intercontinental hotel, lusaka distinguished ladies and gentlemen, may i take this opportunity to congratulate all the individuals and institutions that will receive financial literacy awards for making a difference in the financial literacy campaigns nation - wide. distinguished ladies and gentlemen, let me end by acknowledging all the institutions and individuals that have joined in the commemoration of this year ’ s world savings day. in particular, i wish to thank the pensions and insurance authority ; securities and exchange commission ; bankers association of zambia ; the ministry of finance ; rural finance expansion programme ; the german savings banks foundation for international cooperation ; financial sector deepening zambia ; ngos and all the public as well as private sector organisations that have continued to support the stepped up national financial literacy campaigns since 2012. i thank you and god bless us all!

as much as possible market tensions. let me now turn to how the interaction between the component parts of the system, the ecb and the national central banks, which are an integral part of the eurosystem, are organized. the statute gives some guidance regarding the distribution of labour within the eurosystem where it states : • the ecb shall ensure that the tasks conferred upon the escb [ eurosystem ] are implemented either by its own activities or through the ncbs ( art. 9. 2 ) ; • to the extent deemed possible and appropriate, the ecb shall have recourse to the ncbs to carry out operations which form part of the tasks of the escb [ eurosystem ] ( article 12. 1 ) from these articles it is clear that in the system of currently sixteen component parts the ecb has a special position : it is the “ captain of the team ”. the ecb and its decisionmaking bodies, the governing council and the executive board, are the decision - making centre of the eurosystem, and many important decisions taken are – in full conformity with the principle of decentralisation – implemented by the ( respective ) national central banks ; of course, on behalf of the eurosystem. still, at the beginning, it was probably hard to imagine how the eurosystem would work in practice, since the statute allows a degree of leeway on how to design the interaction between the ecb and the national central banks. it is clear that the major achievements of the eurosystem which include the successful establishment and conduct of the single monetary policy, the smooth introduction of the euro and the launch of the euro banknotes, could only be accomplished through the very close cooperation of the staff of the eurosystem central banks. the teamwork necessary to successfully master these challenges and the experiences gained in the process contributed to the emergence of a shared identity which found its concrete expression in the eurosystem mission statement, its strategic intents and organisational principles. i regard the signature of this strategic document by all eurosystem central banks in 2004 to be major achievement of our team and i am sure that yves shares this view. together these documents define the role of the eurosystem, the principles it should rely on to achieve its main objectives, and how all its members should interact and cooperate on the basis of shared values. in other words, these three tools aim at increasing the coherence and unity of the eurosystem