, the real power will be a shared power. it will be women and men working together leveraging on each others comparative strengths, experience and knowledge that will allow us to make the difference that best suits our circumstances and that is able to bring us to the best level of performance and progress. bis central bankers ’ speeches

a broader range of individuals and institutional investors. for islamic banks, the iap creates a differentiated product that presents a new source of income and funding profile. there is also the potential for institutions with specific mandates including government agencies to strategically collaborate with the iap and islamic banks to form public - private partnerships to facilitate the efficient channelling of grants or funding and to facilitate financing opportunities for identified strategic ventures. the role of the iap that is launched today is envisaged to transcend beyond our domestic borders to become an effective channel to further enhance financial interlinkages in the regional and global economy. it can also be enhanced to become a multi - currency investment platform to provide a marketplace for local and international investors to invest in real economic activity and projects denominated in various currencies and financed by islamic banking institutions from different jurisdictions. this will be a first of its kind shared global platform for islamic finance. in facilitating cross - border transactions, the iap will also contribute towards drawing new foreign investors while also allowing for participation in the financing of projects outside the country. the iap, together with the existing components of financial intermediation will form a more complete, and yet mutually complementary financial ecosystem. to ensure its success, there has to be greater awareness and understanding on the key features of the iap and its embedded mechanisms by all the stakeholders. of importance is for islamic banks, investors and entrepreneurs to have a clear understanding on the risk and return relationships that are embedded in the variations of shariah contracts used in such investment account products. expectations need to be aligned with the various approaches adopted to managing these relationships according to the contractual and operational requirements. it is also paramount for islamic banks to uphold the best practices in the conduct of discharging their fiduciary duties and in performing its administration. of importance is the required due diligence, performance monitoring, suitability assessment and investment management. this would ensure that the iap is always a trusted medium of investment that is transparent and competitive in providing a seamless experience for investors. this would address the concerns of investors on the risks associated with the asymmetry of information. such features would contribute towards strengthening the ability of the iap to attract a wider range of investors, therefore enabling the platform to cater for different types of risk profiles of the different ventures. this shared infrastructure for advancing the delivery of the investment account product offerings represents an important platform to take this proposition forward. i wish to congratulate the six financial