To ensure that the financial system is well placed to serve the nation, on-going efforts will be directed towards enhancing the efficiency of financial infrastructure and strengthening the functioning of the markets as we advance forward. Our policy initiatives will continue to maintain a regulatory environment that encourages innovation and efficient competition towards evolving a more diversified banking sector, while at the same time maintaining high prudential standards to ensure the soundness and stability of the system. With strong concerted efforts between Bank Negara Malaysia and the industry, or continuous and honest dialogues in one form or another, we can look forward with confidence to continued strong performance from the banking sector to contribute significantly to the economic prosperity of the nation. On this note, I wish you all an enjoyable and fruitful conference. Assalamualaikum and thank you. BIS Review 32/2005  5
In the planning phase for the technical feasibility and during initial production tests in 2010, it became evident that the complexity of the new security features necessitated a postponement of the issue date to autumn 2012. In autumn 2011, during an early phase of the serial production, technical difficulties arose which had not been discernible in the testing phase, whose results were positive. For this reason, the SNB this year decided to conduct a comprehensive re-assessment of the entire project together with the industrial partners producing the new banknote on its behalf. As a result, several mostly technical measures were defined and in some cases have already been implemented. These measures should ensure that the series can go into long-term industrial production. Owing to the complexity and scope of the necessary work, the first denomination of the series, the CHF 50 note, may be expected in 2015 at the earliest. The SNB will announce the issue date as soon as production of the first banknote denomination has been completed. Since the National Bank wants to continue meeting the highest quality standards, it has accepted a postponement in the new issue, a decision which was rendered all the easier because the banknotes currently in circulation continue to offer a high standard of security. BIS central bankers’ speeches  3