. 5 billion ) as at end - march 2010, a compounded annual growth rate of 35. 5 %. while such positive trends are encouraging, we are also mindful of the associated risks, such as non - performing loans, over - indebtedness and consumption of financial products and services that are not suitable for the user. in this regard, efforts towards financial inclusion are always conducted within the framework of sound banking practices, risk management and adequate consumer protection. importance of financial inclusion data in the growth and development of an inclusive economic system policy formulation for financial inclusion is complex for a number of reasons. first, it requires the active involvement of many different stakeholders, in particular government agencies and very often a variety of ngos, as well as financial institutions with specialized skills and knowledge. second, the state of economic and social development of a society is an important determinant on the level and quality of financial inclusion. third, what constitutes acceptable level of inclusion, in terms of access to finance, protection of personal rights and liberties, or assurance of retirement and healthcare benefits varies from one jurisdiction to another. for the reasons that i mentioned, there is no uniform global benchmark that can be used as a successful model for financial inclusion programs. success stories and experiences are dispersed and often go unrecorded and to further the cause we need to reveals this situation. the financial inclusion agenda requires a systematic and internationally - recognized set of financial inclusion indicators that is meaningful and capable of assisting us in formulating developmental policies. furthermore, enormous efficiency gains from the availability of such indicators can both reduce the cost of research and implementation as well as increase the effectiveness of the delivery and execution of the policies. lessons learned in using financial inclusion data in the malaysian context let me to briefly share some of the lessons we have learnt in terms of using data to improve the policy formulation process, and develop a more efficient and inclusive financial sector. perhaps the most interesting example is the development of quality credit data which has enabled financial institutions to make informed and responsible lending decisions in a timely manner and to be able to mitigate serious problems such as fraud. these data have also assisted bank negara malaysia in performing its macro - and micro - surveillance duties and in its policy - making role. the data in this case came from the development of a comprehensive credit registry system. the availability of such data also allows individuals with good payment track records to make a more credible case for access to credit, and helps overcome the limitation of inadequate collateral.

muhammad bin ibrahim : asean financial integration, collaboration with myanmar and other challenges for malaysia speech by mr muhammad bin ibrahim, deputy governor of the central bank of malaysia ( bank negara malaysia ), at the maybank myanmar grand opening, yangon, myanmar, 2 october 2015. * * * a very good evening, it is an auspicious occasion. congratulations to maybank on the opening of its branch in yangon, myanmar. i am very confident that the launching of this first branch marks the beginning of a productive, innovative and meaningful journey for maybank in contributing to the economic transformation of myanmar and in particular the development of its financial sector. i am confident that this branch will be the first of many to come. my remarks today will touch on three subjects : firstly, the importance of asean financial integration ; secondly, the close and long - standing friendship between myanmar and malaysia ; and the role of financial institution as a responsible corporate citizen. asean : story of the future that begins today members of asean have adopted an ambitious, unique and comprehensive vision for an economically and financially integrated region. i term it as unique since we are embarking on this process in a phased and gradual manner. each member country is given the flexibility to progress towards integration based on its state of readiness. it is an inclusive approach and a long term strategic plan to unlock the growth potential of our region in the coming decades. the case for integration is self - evident. from its inception, malaysia ’ s and its founding members ’ vision have always been for a strong and integrated asean region. the “ asean way ” believes there is strength in diversity and no country should be left behind. asean strongly believes in the concept of shared prosperity, where wealth creation within the region will be enjoyed by all. the spirit of cooperation and flexibility are amongst the principles which underpinned the success of myanmar ’ s chairmanship of asean in 2014. under myanmar ’ s leadership, we saw major strides in financial integration that culminated in the conclusion of the asean banking integration framework ( abif ) by the asean central bank governors. a framework of gargantuan achievement. myanmar ’ s leadership in seeing this through was crucial and now abif represents the single most important agreement in strengthening the asean banking system, driving deeper integration and enhancing the region ’ s growth potential. it is an agreement of momentous significance. i would also like to congratulate myanmar for successfully advancing the yangon outcomes for financial inclusion during their tenure as chair in 2014.