muhammad bin ibrahim : challenges in compiling and communicating statistics in malaysia opening remarks by mr muhammad bin ibrahim, deputy governor of the central bank of malaysia, at the national statistics conference ( mystats 2012 ), kuala lumpur, 9 november 2012. * * * saya berbesar hati untuk mengalu - alukan kepada semua yang hadir pada persidangan yang julung - julung kali diadakan ini, mystats 2012, yang memperlihatkan sekali lagi kejayaan dalam usaha kerjasama di antara jabatan perangkaan malaysia dengan bank negara malaysia. saya juga amat gembira dan berbangga dengan sokongan yang ditunjukkan oleh para peserta yang mengambil bahagian hari ini, yang terdiri daripada sektor swasta dan sektor awam, pengguna dan perangkawan statistik, di samping rakan - rakan saya daripada irving fisher committee on central bank statistics ( ifc ). dengan kehadiran kumpulan yang mempunyai pelbagai kepentingan ini, saya yakin forum ini akan menjadi platform yang amat sesuai untuk kita berkongsi pandangan, bertukar - tukar pengetahuan dan pengalaman tentang statistik, dan akhirnya memperoleh manfaat besar daripada persidangan ini. i am pleased to welcome all of you to this inaugural conference, mystats 2012, a collaborative effort between department of statistics malaysia and bank negara malaysia. i am also very encouraged by the strong support from all of you present here today, representing both the private and public sectors, users and compilers of statistics, and executives members from the irving fisher committee on central bank statistics ( ifc ). with such a diversified interest group, i believe this forum will be an important platform for us to share views, exchange statistical knowledge and experiences. the objective of mystats is to provide a platform for our statisticians, analysts, economists, policy makers, academicians and media to share, discuss and highlight insights and issues in statistical analysis and policy formulation as well

investors, financial institutions and the general public at large. in the first three sessions today, our distinguished speakers and discussants will share insights and experiences in many areas ; the adoption of statistical best practices in data management, ways to promote data sharing and communication of statistics, identification of statistical gaps and limitations faced by analysts or authorities in the usage of data. the session would also explore and provide possible resolution to challenges confronted by compilers and users of statistics. in the concluding panel discussion, the panellists will deliberate on new data requirements, the need for more forward looking and pre - emptive data collection and compilation, identify best practices to enhance data integrity and communication of statistics, and the role the private sector can play in contributing better data collation. bis central bankers ’ speeches your views today is important as it would provide insights and assistance to statistical compilers, policymakers and regulatory authorities to facilitate planning and enhancement of existing data measurement or implementation of new statistical initiatives. the end game is to facilitate effective analysis, monitoring and surveillance of the economic and financial activities and provide accurate assessment of risks and the effectiveness of policy initiatives and the state of the economy. this forum will also provide analyst an opportunity to share their views on the type of data that would be useful to them. while debating on the statistical needs of the public and private sectors, there are many areas that could be considered, amongst them : 1. does the private sector benefit given the significant resources that have been invested by the national statistics office, regulatory authorities and government agencies to compile more comprehensive, timely and granular data? 2. what type of data that the private analysts require that would improve their analytical capability to provide analysis for informed decision making to their client? 3. based on past experiences, data compilation always lags behind financial innovations and economic developments. based on this premise, what should be the strategy, from the perspective of statisticians and users, to ensure the availability of new and appropriate data on a timely basis to meet future needs of users? 4. how can data compilers and users play a greater role inidentifying new data needs of a high income and high value added economy? 5. how can statisticians play a more proactive role in advising or communicating with users on the availability of appropriate data for analysis and surveillance to avoid the redundancy of data collection? these questions are by no means exhaustive but i hope our distinguished speakers and discussants today will address some of them. the speakers and