8  Mar.09 General government Monetary authorities NIIP (2)  Mar.10  Figure 5 Real exchange rates by region (monthly data; index, 2001-2009=100) RER with respect to Asia  RER with respect to Latin America 150 140 130 120 110 100 90 80 70  150 140 130 120 110 100 90 80 70  150 140 130 120 110 100 90 80 70  01 02 03 04 05 06 07 08 09 10  RER with respect to the euro 150 140 130 120 110 100 90 80 70  150 140 130 120 110 100 90 80 70  01 02 03 04 05 06 07 08 09 10  RER with respect to the U.S. 150 140 130 120 110 100 90 80 70  150 140 130 120 110 100 90 80 70  01 02 03 04 05 06 07 08 09 10  Aggregate RER  150 140 130 120 110 100 90 80 70  01 02 03 04 05 06 07 08 09 10  Regional RER  Source: Central Bank of Chile. Figure 6 Real exchange rate by sector (index, 96-07=100) 250  250  200  200  150  150  100  100  50  50  0  96  98  Manufacturing Total exports  00  02  04  06  08  10  0  Agriculture, forestry & fishing Mining  (*) RER estimated using unit-value indexes. Latest date corresponds to third quarter 2010.
Muhammad bin Ibrahim: Of directors and supply of talent Remarks by Mr Muhammad bin Ibrahim, Deputy Governor of the Central Bank of Malaysia (Bank Negara Malaysia), at the Launch of FIDE Forum Directors Register “Of Directors and Supply of Talent”, Kuala Lumpur, 1 April 2016. *  *  *  Today marks an important step forward for board talent management among financial institutions in Malaysia. The Directors Register will be launched this morning to address the financial sector’s need for a reliable supply of qualified individuals to meet the growing demand for high-calibre directors. Financial institutions play a critical role in the economy, intermediating funds to support the real economy. Because of the criticality of the role, financial institutions must be led by directors who possess the necessary skills, experience and integrity to spearhead financial institutions in a competent and effective manner. Identifying, developing and retaining directors of high calibre are no easy task. We need to design a solution to achieve it. The Directors Register is therefore a timely initiative as this acts as a solution to expand the pool of potential directors for boards of financial institutions. Demand imperatives Being a director of a financial institution is highly demanding. The last financial crisis has shown the failure of board oversight in managing the affairs of financial institutions. Unbridled risks-taking, misaligned, incentives structures and failures in overall governance were just a few of the shortcomings that almost brought the global financial system to a standstill.