The financial sector is currently healthier and better able to withstand external shocks compared to the financial sector at the beginning of 2017. It is better capitalized, liquid, 5  profitable, and more efficient and has adequate capital buffers to enable it manage any adverse external developments. Such an optimistic outlook seemed nearly impossible in 2017 when we started these reforms. 9.
Mr. Chairman, a dynamic growth-oriented financial system must be strong, well capitalised, and effectively supervised within a fair regulatory environment in accordance with international best practices and standards.