Therefore, it is necessary the society itself and international institutions support the establishment and strengthening of internal anchors. Which would be an efficient internal anchor? I think that the best internal anchor is a technician who thinks independently, proud of what he does, conscious for the results and the consequences of the proper actions. In other words, this implies the establishment of professional capacities as one of the cornerstones of long-term successful polices. The scientific education and research in this direction have an important and inalienable role. All the issues mentioned so far, as:   The new strategic model of economic growth;    The effective, efficient and consistent monetary policies with the economic growth;    The necessity for coordinated structural reforms in the region;    The challenges to European integration;    The common political economy of the region in the future;    The importance of internal anchors and the study and research of external ones, and;    The need for establishing capacities;  are included in the research work’s agenda of the Bank of Albania. It is a great pleasure that we already have the possibility to cooperate with a remarkable partner as Oxford University, a distinguished institution for the high-level research in political and economic sciences. For this collaboration, I hope and I believe that many issues I discussed above would have an answer, partial or a complete one.
While Bank Negara Malaysia will continue to strengthen the consumer protection framework through enhanced disclosure standards, effective dispute resolution mechanisms, and promotion of fair practices, banking institutions must also play their role. An important aspect is to ensure that consumers are adequately equipped with the relevant information to minimise the risks of poor financial decisions and their consequences. Market practices and disclosure standards must be fair and comprehensive so as to ensure that consumers are treated equitably and have access to adequate and timely information to facilitate effective decision-making. Ladies and Gentlemen, In this recent year, Bank Negara Malaysia has put in place two important infrastructures within the banking sector, the first being the framework for the establishment of Islamic subsidiaries, and secondly, the merger of commercial banks and finance companies within the same banking groups. These frameworks have paved the way for banking institutions to further rationalise their operations and improve efficiency. Both allow for the operations to be now undertaken within a new structure where the operations will be able to leverage on the group infrastructure, including the branch network and the support functions, to maximise cost efficiency and reap the benefits of group synergies. A number of banking institutions have already capitalised on the opportunities provided by these frameworks. Going forward in 2005, Bank Negara Malaysia will finalise a number of key regulations for the banking system.