Our experiences include provision of advisory services to Shariah funds and asset management companies in the U.S, Switzerland and South Korea; and to sovereigns and corporates on sukuk issuances. Our legal firms have also played a part in the development of legal and regulatory frameworks for Islamic finance in a number of countries. Contributions have also been made in the area of research, education and training, with more than 50 international projects, training and customised programmes delivered to international clients since 2010. The third imperative is in the area of talent. The success of an Islamic finance system depends critically on having the right set of quality talent. This is more so as we aspire for Islamic finance to reach greater heights, in this new normal of rapid advances in technology and changing demographics. Accordingly, Malaysia has made significant investments in developing a complete ecosystem dedicated to meeting the human capital needs of the Islamic finance industry. Our talent infrastructure caters to every level, for both academic and professional needs. Dedicated talent entities for Islamic finance have also been set up, such as INCEIF – a global university for Islamic finance – and ISRA, a globally recognised institution in enriching research and knowledge on Shariah. An important aspect of talent development is elevating the quality and professionalism of talents in Islamic finance – not just in Malaysia, but globally. In realising this vision, the Chartered Institute of Islamic Finance Professionals was set up to promote the highest standards of professional practice among Islamic finance practitioners.

Marzunisham Omar: Supporting the robust growth of Islamic finance in Malaysia Welcoming remarks by Mr Marzunisham Omar, Assistant Governor of the Central Bank of Malaysia (Bank Negara Malaysia), at Malaysia Country Showcase - IFSB Summit 2017, Kuala Lumpur, 22 October 2017. * * * Welcome to Malaysia Country Showcase. I would like to express my sincere appreciation to all of you for being here today. I hope that today’s showcase will enhance your understanding of the critical role that professional ancillary services and talent development institutions play in supporting the robust growth of Islamic finance in Malaysia. Indeed, these professional services, which include Shariah consultancy, legal, accounting and talent development, are an integral part that make up Malaysia’s vibrant Islamic finance system. With Islamic finance fast gaining a strong foothold in many countries, Malaysia hopes to be able to contribute to this dynamic phase of Islamic finance development by providing an array of reliable, high quality professional services; one that is backed by decades of experience. Today, Malaysia has a competitive Islamic finance that forms part of the mainstream financial system. Islamic banking assets now account for 28% of Malaysia’s total banking assets, while more than half of our bond market comprises sukuk. We have a diverse range of Islamic financial institutions, both domestic and foreign, which provide competitive, innovative products to meet the varied and unique needs of individuals and businesses. What we have today was not built overnight. The Islamic finance journey in Malaysia has been long and its beginnings were humble.