In fact, even for countries such as the Republic of Macedonia, with relatively modest financial education and low utilization of modern technologies in the financial area, the question that arises is not whether, but when the digitization process will engulf the domestic banking system. In this light, I would like to point to the process of digitization and use of information technology not as a threat against the competition in banking, but as a new opportunity to bring financial services closer to as many clients as possible, to raise financial inclusion and literacy, and to ensure better allocation of resources, as phenomena of greater economic and social significance. 1/2  BIS central bankers' speeches  On the other hand, the application of new technological solutions brings changes in the range of risks that banks face and manage in their day-to-day operations. In addition to the conventional bank risks such as credit risk, interest rate risk, currency risk, the importance of non-financial operational risks will gradually increase. Increased use of modern technical solutions will mean greater significance of the risks related to the information systems security, the confidentiality of the data, the storage of information content, the access and the maintenance of the payment systems. At the end, before awarding the Best Counter Officers, allow me to express gratitude on my behalf and on behalf of the National Bank for their daily and painstaking work in the banks’ branches. Thank you for your attention and congratulations on the World Savings Day! 2/2  BIS central bankers' speeches
Last month, AMRO presented its first set of Economic Review and Policy Dialogue reports at a meeting of ASEAN+3 Finance and Central Bank Deputies. AMRO’s ability to deliver such comprehensive reports within such a short time of becoming operational speaks well of the quality of its leadership and staff. 24. Singapore is very pleased to serve as the base for AMRO’s operations. We are fully committed to supporting AMRO – in matters both financial and administrative. As AMRO expands over the next few years and builds up its capabilities, we look forward to active engagement and collaboration. To be effective, AMRO must be independent and objective in its assessments, and candid about risks and vulnerabilities. I am happy to note that, in its surveillance reports, AMRO has sought to clearly identify policy risks and areas for improvement in the ASEAN+3 economies. It is critical that AMRO sustains this effort and develops an effective consultation process with ASEAN+3 economies. BIS central bankers’ speeches  3  Conclusion 25. The journey of regionalism as represented by the CMIM is an ongoing one. Today’s official opening of AMRO is an important milestone in that journey that we can all take pride in. On behalf of my colleagues in ASEAN+3, I would like to congratulate AMRO and its director, Mr Wei Benhua, on your strong start and wish you every success. Let me also extend our warm wishes and full support to Mr Yoichi Nemoto, who will take over from Mr Wei as AMRO director later this year. 26.