I hope you will exploit this platform to disseminate as much information on Islamic banking and finance as possible so as to provide an opportunity for the public to learn more on the products, services and benefits of Islamic banking and finance. This year's Islamic financial expo presents a different appeal altogether with various differentiated activities and events organised for the diversified target groups and consumers. I note that various activities have been arranged for the next five days including Islamic banking and finance exposition, the annual Islamic Finance Forum, colloquium on Islamic finance, convention on takaful and Islamic unit trust advisors and Muzakarah for Shariah advisors. This is indeed an excellent opportunity for exchanging ideas as well as providing relevant information to the public on Islamic finance. It is also timely and augurs well with the recent announcement of the initiatives to position Malaysia as the international Islamic financial centre. The Islamic financial industry in Malaysia has experienced rapid transformations particularly in the past ten years. The Malaysian Islamic banking system registered strong performance with higher profitability and positive trends in all key indicators. Profitability surpassed the RM1 billion mark for the first time in 2005, and this year the industry will again register good profit as for the first half of 2006, the amount of profit generated was already RM800 million. The total assets of Islamic banking currently stands at RM122 billion. The performance of the Malaysian Islamic financial market in particular the capital market has been encouraging.

Communication and direct interface with these key stakeholders will advance towards effective dissemination of information to promote greater awareness and appreciation on Islamic finance to create a more literate society on the virtues and benefits of Islamic banking and finance. The organising of KLIIFEX 2006 has some embedded key values and essence that need to be strengthened moving forward. The most significant is the strong alliance among the players within the industry as well as with the relevant institutions including educational, training and research institutions, knowledge centres and other professional bodies in promoting the development of the industry. Islamic finance will achieve greater heights with the collaborative efforts of all relevant parties, especially those outside the industry. The existence of these networks and linkages is a catalyst towards strengthening the landscape for future innovations and advancements in Islamic banking and finance at the domestic and international fronts. The second essence of KLIIFEX 2006 is the involvement of international players, particularly with the participation of foreign exhibitors in this year's event. As the cross border trades and international Islamic finance activities intensify, strong interlinkages among the domestic and international players are crucial. Leveraging on the significant inroads and growing global recognition enjoyed by Malaysian players, this event will accord opportunities for the players to understand each other's strength and capabilities that would lead to more strategic alliance in the area of Islamic finance. This is certainly relevant in our effort to enhance the position of Malaysia as an international Islamic financial centre (MIFC).