To this end, the Bank, together with Securities Commission Malaysia and various Government ministries and agencies, collaborate through the Financial Education Network to increase the level of financial literacy and access to information and resources on financial matters. The Financial Education Network also serves as a focal point to drive the implementation of Malaysia’s National Strategy for Financial Literacy. I know that over the course of these webinars, we will learn much more about the priorities, approaches and strategies to advance sustainable finance development across the region. As we absorb the many valuable lessons and experiences shared towards this common goal, I am reminded of Winston Churchill who said, ‘It is no use saying we are doing our best. We have got to succeed in doing what is necessary”. In the end this is what counts. Policymakers and the financial industry have a responsibility to do what it takes to succeed in making sure that finance works for sustainable development. Let me end here and thank you very much for this opportunity to offer some remarks today. 3/3  BIS central bankers' speeches
There are structural vulnerabilities in the financial system caused by both of these problems in the non-bank world. And the dash for cash episode was the sort of stress event that nearly caused the problems to crystallise in a big way, and arguably would have done so but for the rapid intervention on a substantial scale by the authorities. Lessons from the March 2020 “dash for cash” episode Let me put this into the context of the role of money market funds and what happened during the dash for cash. I will describe the events using evidence from sterling money markets, and then draw on some broader evidence (the UK story is very well described and assessed in Hauser (2020)). The dash for cash was, of course, a broader financial system – and indeed economy wide – phenomenon, driven by the underlying health shock and its economic implications. Nonetheless, money market funds are an important part of the dash for cash story because they seek to bridge between the desire of investors for immediate liquidity (in other words a cash or depositlike desire) and the desire of the banks, in which they invest a sizeable part of the funds, for term funding in the form of commercial paper or certificates of deposit. They are therefore carrying out a form of maturity transformation which in times of stress can become prone to runs.