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Wednesday, December 4, 2013

The transformation of financial system and the rebalancing of Malaysian economy, to have a strong domestic economy have helped us to survive global financial crises.

'Leaders must have clarity in vision'

Published: 2013/12/04

FINANCIAL crisis is   cyclical process that is bound to happen every once in a while and, hence, it is important for all nations, especially Malaysia, to always be on guard against upcoming waves of financial crises, said Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz.

Having successfully led the country through two financial crises in her career as a central banker, Zeti said: "You can never sit back, pat yourself on the back, and say you have done a great job as the environment can change dramatically."

Zeti was sharing her extraordinary story of triumph over adversity at the Leadership Energy Summit Asia 2013 (LESA), here, yesterday.

Addressing 500 delegates, Zeti who shared her vision of building a central bank for the future, noted that in the lifetime career of a central banker, one will be confronted, at least once, if not twice, with a financial crisis.

"We have to prepare ourselves for the next crisis. The transformation of our financial system and the rebalancing of our economy to have a strong domestic economy have helped us to survive global financial crises.

"If we had not done this after the Asian financial crisis, we would not have been able to survive the current crisis," she pointed out.

Zeti said as a leader, it was important to have a sense of purpose of what one wants to achieve and having the most compelling purpose is key.

To achieve the purpose, she said one needs to have, among others, powerful energy, unwavering determination, clarity in vision and conviction for the future.

Zeti, who has been governor since 2000, was recently accorded "Grade A" among the heads of central bank for the 10th time by the Global Finance magazine

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