. while regulatory changes might create the conditions for the reinvention of business models, ultimately this is an issue that the shareholders and management of islamic financial institutions will need to address. by now it should be clear that there can be no return to “ business as usual ” and that financial institutions will only survive in future if they succeed in developing a more sustainable business model that does not rely on high leverage and excessive maturity mismatching. developing those new business models will be a great challenge for the industry, but one that i am confident it will be able to confront. thank you for your attention.

continues to actively reach out to support smes through the provision of financial planning and risk management services, and the promotion of financial literacy alongside similar initiatives by financial institutions. public - private partnerships between the association of banks in malaysia and bank negara malaysia have also worked successfully to encourage improvements in customer service levels and the turn - around time taken to process sme financing applications. these initiatives have yielded tremendous payoffs to the national economy. malaysia also ranked in first place in the world in 2009 in the category of access to credit by the world bank in their “ doing business 2010 report ”. international and regional cooperation in a global economy, efforts to support smes must also address frameworks for facilitating trade, payments and financing beyond national borders. effective regional and international collaboration can add significantly to enhance further the long term contribution of smes to the economy. the endeavour by apec in the establishment of the apec sme working group in 1995 has provided an important collaborative platform for policymakers and private sector leaders to come together in designing regional strategies for sme development. under this working group, policies have been developed to improve the business environment for smes, build sme management capabilities, enhance access to markets, promote innovation, enhance access to financing and encourage sustainable business practices. successful projects implemented in 2009 include the replication of business counselor training programmes across the region and the development of strategies for enhancing the competitiveness of small trading houses and exporters. under the memorandum of understanding entered into by various apec financial institutions dealing with smes in 2003, many more financial institutions have benefitted from increased trade facilitation, transfer of knowledge, expanded cross - border growth opportunities and information sharing. conclusion let me conclude my remarks. the importance of smes in apec economies is clear. however, while their large numbers make them important to the economy, it is their potential that places them at the centre of the economic transformation agenda. support for sme development requires cohesive and cross - cutting strategies which encompasses the collective efforts of the financial sector, the governments and smes themselves. in the global economy, common strategies that are well coordinated across borders would facilitate the participation of smes in the globalisation process. the ultimate goal is to promote entrepreneurship and develop an environment favourable to smes that will allow them to become more competitive in both the domestic and international markets. in closing, i would like to congratulate the association of banks malaysia for hosting this event and encouraging wider international dialogue on important developments affecting