This event now brings together tech companies, banks, venture investors and regulators. The response from the industry gave us the confidence to move to a much bigger venue – the Hong Kong Convention and Exhibition Centre – in 2017. The following year, we used an even bigger venue there. And this year, we have outgrown the Convention and Exhibition Centre and moved here, to the Asia World Expo. 6. I’m really very encouraged by the impressive turnout of thousands of visitors from 60 economies at this year’s Fintech Week, despite what has been going on in Hong Kong in the last few months. 7. So we move to a bigger venue every year. And that’s because this industry is moving on to bigger ideas. Working together, all of us in this hall today are imagining and creating new services for consumers and businesses. And we are jointly creating a more vibrant Fintech ecosystem for Hong Kong. 8. We have achieved quite a lot together in Hong Kong in these three short years: the launch of the Faster Payment System (FPS); the granting of eight virtual bank licences; the adoption of the open API framework by the banks; and the creation of a blockchain-based trade finance platform. These are major milestones so far on our Fintech journey. And this is just the start. I am sure you are as confident as I am that more exciting things lie ahead. 9. Having come this far, this is a good time to ask some questions.
Muhammad bin Ibrahim: Bankers as guardians of the financial system Remarks by Mr Muhammad bin Ibrahim, Governor of the Central Bank of Malaysia (Bank Negara Malaysia), at the AICB Graduation Ceremony 2018 "Bankers as Guardians of the Financial System", Kuala Lumpur, 12 May 2018. * * * Thank you for inviting me to speak at this commencement ceremony. I hope today marks a meaningful milestone for you in your journey as a banker. For those who will receive an AICB award today, congratulations! Do wear it with pride and keep up the good work. You make us proud. At last year’s ceremony, I pointed to the parallels between the conduct of the banking industry and the Hippocratic Oath. Behind the oath, to do no harm, are three principles bankers can learn: competence, character and the deep sense of calling. I will aim higher this year and outline the case for bankers as guardians of the financial system. As guardians, bankers are to exhibit professionalism, wisdom and agility. Guardians of public trust, a responsibility to safeguard integrity of the system Bankers have gained notoriety over the past few decades over their role in the Great Financial Crisis. Derogatory terms were used to insinuate excessive wealth, power and undue influence of bankers over the economy. This reflects everything that is wrong with the banking system. Reputation lost is not easy to regain. It is an uphill task to win back trust and confidence once it is lost. The spotlight on bankers is not entirely misguided.