zeti akhtar aziz : fostering leadership role in islamic finance speech by dr zeti akhtar aziz, governor of the central bank of malaysia, at the launching of hong leong islamic bank berhad - “ fostering leadership role in islamic finance ”, kuala lumpur, 19 july 2005. * * * bismillahirrahmanirrahim y. bhg. tan sri quek leng chan, chairman of hong leong bank and hong leong islamic bank encik daud abdullah, managing director, hong leong islamic bank ladies and gentlemen, it is my pleasure to be here today to commemorate the official launch of " hong leong islamic bank berhad ". this establishment of the islamic subsidiary represents the on - going institutional transformation in the islamic banking system in our islamic financial system. the underlying philosophy for the incorporation of an islamic subsidiary is for the further strengthening the institutional structure for islamic banking business operations. the emergence of hong leong islamic bank in the islamic financial landscape will further increase the diversity of players in the islamic financial system and enhance its potential to contribute to the further development of our islamic financial services industry. ladies and gentlemen, today, the islamic financial services industry in malaysia has emerged as a viable and competitive component of the financial system that contributes towards enhancing wealth creation and the nation's economic development. the advancement and progress that have been achieved thus far have opened new frontiers for the islamic financial services industry. the broad strategies that have been adopted as outlined in the financial sector master plan and the actions and initiatives taken leading to the rapid development and growth of the domestic islamic banking industry have all contributed to the achievements we have realised today. indeed, the recent two years have seen the islamic financial landscape being significantly redefined the establishment of islamic subsidiaries, the issue of new licences to foreign players, and the initiatives of our domestic institutions to venture abroad. these developments have increased the potential for international integration of our islamic financial system. the liberalisation of our domestic bond market to allow multilateral and multinational corporations to raise ringgit denominated instruments in our market has also expanded the volume of islamic instruments in our financial markets. more recently, an islamic equity index was introduced increasing further the potential for the deepening of the domestic capital market. in the area of shariah, bank negara malaysia has introduced the shariah governance framework in april this year as one of the initiatives to strengthen the role and involvement of the shariah scholars in the

whose common characteristic is the addressing of the reality in the last couple of years. they mainly scrutinise the economic, financial and social effects of the pandemic and the resistance of market and financial institutions to this shock. thesis on the forward guidance of financial market, focusing on the digital currency effects ; exploitation of large detailed databases for evaluating the behaviour of financial market segments which, which have been out of the research attention, are important to the country development ; in addition to the study of other important issues to albania, like fiscal policy, etc. the addressed themes and their findings are based on the application of contemporary research methodologies and make use of granular statistical information, which is both thoughtful and structured one. above all, this information is employed rigorously pursuant to the academic standards and requirements to research and argue through theoretical and empirical hypothesis on the economic and financial phenomena and events. for this reason, the commission found difficult in making a selection as all topics were coherent, interesting and properly addressed. nevertheless, we succeeded to identify carefully those minor variations and distinguished nuances which make the difference to the winning theses amid all the presented works. eventually, we have come to a decision on the “ governor ’ s award for the best diploma theses ” for 2021. though, i would like together with the winners to thank and congratulate all the participants in this contest for their engagement, ideas, the applied methods and findings based on the appropriate methodologies. i wish this passion and devotion is part of your commitment as you advance in your careers. let us now present the winning contestants. thank you and happy holidays! 2 / 2 bis central bankers'speeches