Inadequate or inconclusive data in areas such as measuring financial literacy, consumer awareness and financial education means that it is difficult to assess the cost and benefit of the proposed policy framework and its impact on financial inclusion. Conclusion Allow me to now conclude my remarks. The successful implementation of policy work in the area of financial inclusion requires the availability of quality data. The fact that this area still remains relatively unexplored, compared to the availability of data for corporate business, financial markets and other more sophisticated aspects of finance, clearly suggests that much work remains to be done. The magnitude and scope of the topic also requires a diverse group of policymakers to collaborate on a long-term basis. The establishment of a working group to improve the quality of financial inclusion data is therefore most timely, and will benefit policymakers in making better and more informed policies, as well as tracking the outcome of policy initiatives. In addition, it may also serve to increase the visibility new issues areas which are currently not being given sufficient priority by policymakers. I would also like to encourage the working group to consider, in the longer term, the development of some form of a composite financial inclusion index. The composite index will  2  BIS Review 88/2010  benefit everyone by providing a broad measure of trends, facilitate comparisons between distinct segments and create a benchmark for policy work in financial inclusion.
It can eventually help to popularize the notion of financial inclusivity, and in that way help garner more global support for financial inclusion initiatives the world over. Finally, on behalf of Bank Negara Malaysia, I would like to thank the participants who have come here from many countries and institutions to contribute their ideas and knowledge to this workshop. I also would like to thank the Alliance for Financial Inclusion for their leadership and support in managing this initiative. I trust that the working group will be able to contribute towards the global agenda for a more inclusive financial system, and look forward to the fruits of your work in the months ahead. BIS Review 88/2010  3