Jessica Chew Cheng Lian: Malaysian banking industry challenges and developments Speech by Ms Jessica Chew Cheng Lian, Assistant Governor of the Central Bank of Malaysia (Bank Negara Malaysia), at the Malaysian Association of Money Services Business Annual Dinner 2017, Kuala Lumpur, 29 April 2017. * * * It is my great pleasure to be here with you this evening at the annual dinner of the Malaysian Association of Money Services Business. I remember a time six or seven years ago when the Bank gathered the industry together at the auditorium in the headquarters of Bank Negara Malaysia to explain the new legislation that was being introduced for the industry. The industry then, and the industry today, is almost unrecognisable. You would have heard this said a few times now, and I think it keeps getting mentioned because the change has been so striking. Tonight, the industry will recognise companies that are leading the way in terms of exemplary customer service to the public, as judged independently by a global consulting firm. This is yet another reminder of how far the industry has come. In the last six years, the industry has almost doubled the value of money services transactions conducted through licensed MSB companies. We estimate that this included about 43% of worker remittances previously conducted through informal or illegal channels, that are now captured within the formal system. On average, MSB companies have increased their turnovers by more than 16%.
José Manuel González-Páramo: How will historians judge our handling of this crisis? Speech by Mr José Manuel González-Páramo, Member of the Executive Board of the European Central Bank, in the occasion of the presentation of the book titled “Un Siglo de Historia del Sistema Financiero Español”, Bank of Spain, Madrid, 10 June 2011. *  *  *  Ladies and Gentlemen, It is a great pleasure to have the opportunity to speak today at the Bank of Spain about the Spanish financial sector. The book being presented today consists of a distinguished collection of essays providing a wealth of information on Spain’s financial sector over the last century. Not only does it summarise the key data and the main developments, but it also provides deep analyses. It will definitely become the work of reference on the history of the financial sector in this country in the 20th century. Let me then congratulate the contributors and the editors, José Luis Malo de Molina and Pablo Martín Aceña for their excellent work. Reading the book, notably the chapter by Raimundo Poveda, we can draw some interesting parallels between the current crisis and the banking crisis in the late 1970s and early 1980s. In particular, given the current circumstances, the main message I would like to emphasise today is that certain changes in the banking sector that are implemented in response to crises are essential to guarantee a strong, robust banking sector in the future.