At the same time, the Centre is putting together a world-class Global Leadership Development Program (GLDP) with leading consultants and drawing faculty from the best schools in the world. The Global Leadership Development Program represents ground-breaking design in terms of an executive education program. By drawing faculty from not just one or two, but up to five leading institutions, the Centre will be able to combine the best ideas and thoughts in the world on the various key leadership issues and concerns. The Centre’s role will not be to replicate the roles of institutions of higher learning, but rather to facilitate and provide specific, directed and targeted learning based on the requirements of our industry. In addition to its Board of Directors, the Centre will also be governed by an International Advisory Panel comprising eminent personalties. In the process, participants will benefit from the best of all worlds in terms of the latest thinking on leadership issues. It is envisaged that the Centre will also serve to complement and supplement the existing capacity building facilities in the financial and corporate sector to become a regional centre of excellence for leadership training in finance. The Centre aims to reinforce the notion that investments in human capital, including the pursuit of leadership excellence, is a continuing process in this ever-changing environment so as to enhance the calibre of our human capital in the financial and corporate sector in meeting the challenges ahead as we advance forward in this new millennium. 2  BIS Review 46/2003

As such, continuous investment in human intellectual capital must be made to ensure the availability of best talents at all levels of the institution. Most importantly, strategic leadership at top management level is required to chart the strategic course and drive the banking institution towards attaining the highest standards of performance. The business environment remains dynamic, as such human resource management must adjust to support business strategies and realise improvements in business processes and systems by ensuring employees are equipped with the appropriate skills at all times. Such adjustment requires greater integration of personnel policies and practices with the corporate mission and goals, improvement in recruitment practices to attract the best talents and greater focus on human resource development. While qualification and skills of staff are critical elements, of greater importance is the ability to translate knowledge into enhancing the capabilities and excellence of the institution. Banking institutions will have to enhance the level of competencies and motivation on an ongoing basis, cultivate professionalism and the right attitude, and create and maintain a learning environment. For Islamic finance, the banking industry needs to continually promote human capital development and expertise to create a larger pool of experts and high calibre professionals in Islamic banking and finance. In particular, adequate resources should be allocated in building distinctive capabilities in the newly emerging areas such as private equity investments, real estate investments, private wealth and asset management.