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21 – 22 September 2006, Kuala Lumpur

Savings Banks and Foundations, contribution for a sustainable society. “Savings banks: the retail gateway to a global market. Driving sustainable development”.

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21 – 22 September 2006, Kuala Lumpur

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  1. Savings Banks and Foundations, contribution for a sustainable society “Savings banks: the retail gateway to a global market. Driving sustainable development” Marzunisham Omar Malaysia Central Bank 21 – 22 September 2006, Kuala Lumpur

  2. 21st WSBI World Congress Contribution for a Sustainable Society: A Central Banker’s Perspective Dato' Mohd Razif Abdul Kadir Deputy Governor Bank Negara Malaysia 21 September 2006

  3. The path to a sustainable society … • Economic Strategy • Stable macro conditions • Diversified, competitive and dynamic • Financial Sector Development Strategy • Facilitate growth • Effective, efficient and resilient • Inclusive • Promote sustained economic growth • High quality • Balanced • Broad-based • Equitable • Sustainable Society • Fair & equitable distribution of wealth • Eradication of poverty

  4. Role of Bank Negara Malaysia in Promoting Financial Inclusion Objective: Ensure all economic sectors, regions and communities have access to financial services Enhance access to financial services Enhance access to financial education

  5. Promoting Financial Inclusion: Enhance Access to Financial Services • Basic Banking Services • Ensure that banking customers can enjoy a minimum level of banking services at reasonable costs. • Basic savings and current accounts • Bill payment facility • Interbank-GIRO • Branching Policy • Conscious policy to ensure branches are spread across the country. • No. of branches increased from 131(1960) to 1,987 (2006) • No. of clients served per branch declined from 62,800 to 15,060 • Locally-incorporated foreign banks allowed to establish 4 new branches, including in rural areas • Microfinancing • Develop a vibrant and sustainable microfinance industry. • Obj: To meet the financing needs of the microenterprises I.e. 80% of total SMEs • Players: Development Financial Institutions, Banking institutions • Enhancing credit information infrastructure

  6. Promoting Financial Inclusion: Enhance Access to Financial Education School Adoption Program Children • Objective: Increase financial inclusion through greater awareness of financial products and services Pocket Money Book Financial Education Website Awareness on banking and insurance products Credit counseling and debt mgmt Adult One-stop advisory centre (BNM LINK)

  7. Thank You

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