engagement between the bank and the industry. through regular engagement, the association can play an effective facilitative role in addressing issues concerning developments in the industry, by providing meaningful feedback and input to the bank or other relevant authorities. we have found over the years that industry associations can add tremendous value in consolidating fragmented views of the industry on important issues and could assist in formulating public policy. there are many benchmarks that the association can draw on, both in malaysia and globally, in organising itself as an effective association. but of paramount, the players must be united in supporting the association. last but not least, the association is expected to undertake an active role in educating consumers on the services that the industry provides and in addressing consumer issues and complaints. in relation to this, the association should leverage on its nationwide network to increase awareness among the public of their responsibility to deal only with authorised money services. part of this should also include explaining the relevant regulatory requirements to the public, such as the need to produce identification documents for large transactions. over the last 4 months, i am encouraged by the numerous initiatives undertaken by the association and the fruitful engagements and consultations with the bank. i understand that the association has embarked on a series of nationwide training to help its members implement effective corporate governance practices, develop internal policies and procedures and put in place aml / cft compliance programmes. it has also helped to resolve a number of industry issues, including assisting members to obtain business insurance coverage at reasonable rates, and liaising with system vendors to ensure the provision of suitable and reliable management information systems. these are admirable progress and demonstrate the tremendous value that the association can bring to its membership. on this note, let me take the opportunity to congratulate the council members and the industry on this official launch. bank negara malaysia fully supports the malaysian association of money services business in its important endeavour, and we are confident of the significant impact that this association can make in taking the money services business industry to the next level of development. it now gives me great pleasure to officiate the launch of the malaysian association of money services business. bis central bankers ’ speeches

mario draghi : reviving the spirit of de gasperi – working together for an effective and inclusive union speech by mr mario draghi, president of the european central bank, at the presentation ceremony of the de gasperi award, trento, 13 september 2016. * * * i have many reasons to be grateful and honoured by your decision to award me the premio de gasperi today. his character and his experience provide us with an inspiring message, loud and confident : “ in europe we go forward together in freedom ”. this message is rooted in the 20th century history of our continent. the raison d ’ etre of any government is to provide security for its citizens, both physically and economically. and in democratic societies, that means providing safety and security by preserving individual liberties and individual rights, by promoting social fairness and equal opportunities. the statesmen who, after world war two, looked back over the preceding half - century could reach only one conclusion : that the governments which emerged from nationalist and populist movements, and which were carried into power by a mixture of charisma and lies, completely failed to offer their citizens security, fairness and freedom. they had betrayed the very reason for their existence. in outlining the future shape of international relations, de gasperi and his contemporaries concluded that only cooperation between european governments within a common organisation could ensure the joint security of their citizens. they saw that implanting democracy in the nations of europe would not be enough. europe also needed democracy among nations. they understood that building barriers between countries would make them more vulnerable and less secure, not least due to their geographical proximity ; and that withdrawing behind one ’ s borders would make governments less effective. de gasperi ’ s vision of how this joint process should be shaped was articulated in various speeches he gave in those years. common challenges should be addressed via supranational instead of intergovernmental strategies. speaking to the assembly of the european coal and steel community in 1954, de gasperi noted that “ … from 1919 to 1939, some seventy international treaties were concluded – and all became mere pieces of paper when it came to their implementation ” because of the lack of “ joint control of common resources ”. 1 and the experience of politicians was validated by distinguished economists, such as ragnar nurkse, who showed how those treaties ended up fostering protectionism. 2 integration above all had to meet the immediate needs of the people. as de gasperi observed, “ we must