encik abu hassan alshari yahaya : anti - money laundering and combating the financing of terrorism welcoming remarks by mr encik abu hassan alshari yahaya, assistant governor of the central bank of malaysia ( bank negara malaysia ), at the asean regional bank supervision workshop on “ anti - money laundering and combating the financing of terrorism ”, kuala lumpur, 3 march 2015. * * * welcome to malaysia. i hope you have had a pleasant journey travelling to kl and managed to have a good rest. i also hope that the facilities being offered here at our lanai kijang are adequate to meet your expectations. it is a great honour for bank negara malaysia to host and co - organise the asean regional bank supervision workshop on anti - money laundering and combating the financing of terrorism. i would like to take this opportunity to thank the world bank for formulating the programme and organising this workshop and our utmost gratitude to the government of canada for the generous financial support that has made the hosting and organizing of this course possible. as a country that has just gone through its on - site mutual evaluation process, we have seen that the role of supervision is very important in the development of a country ’ s aml / cft regime. there is critical need for the integration between aml / cft, prudential and business conduct supervision as well as between those supervisors and the law enforcement authorities. these inter - linkages prove to us that collective effort is key in combating ml / tf effectively. the international standards require supervisors to appropriately supervise, monitor and regulate financial institutions for compliance with aml / cft requirements commensurate with their risks. as such, to effectively implement the above, a country ’ s aml / cft supervision has to be embedded in the broader framework of prudential and business conduct supervision. this is to leverage on and optimise the synergies, expertise and resources to ensure effectiveness of both overall supervision of financial institutions and specific aml / cft supervision. supervisors are required to ensure effective management of ml / tf risk and compliance with aml / cft requirements by the financial institutions by assessing institution ’ s policies, procedures and processes for identifying and managing ml / tf risk and in complying with regulatory requirements. this integration also ensure that supervisors are coherent and apply high standards in fulfilling their responsibilities for both aml / cft and prudential supervision. as for aml / cft

mohd razif bin abd kadir : further development of the islamic financial services industry in malaysia speech by mr mohd razif bin abd kadir, deputy governor of the central bank of malaysia, at the official launch of hsbc amanah takaful ( malaysia ) sdn. bhd., kuala lumpur, 12 september 2006. * * * bismillahir rahmanir rahim it is indeed an honour to be here this morning to commemorate the launching of hsbc amanah takaful ( malaysia ) sdn. bhd. this occasion chalks up another accomplishment in the takaful industry in malaysia, as we position ourselves towards achieving a dynamic, competitive and efficient islamic financial system that is able to contribute to the overall development of our economy, and to enhance the integration of our islamic financial system with the global market. the launching of hsbc amanah takaful ( malaysia ) sdn. bhd. marks another significant milestone in terms of our strategy towards developing a progressive takaful industry, that is able to adapt to the increasingly challenging and competitive environment as well as adjust to the forces of change that has redefined the domestic and international financial landscape. ladies and gentlemen, over the past two decades, the takaful industry in malaysia has grown progressively, underpinned by the holistic and pragmatic approach in the development of the islamic financial industry. indeed, we have witnessed an orderly development of the takaful industry. the takaful industry continues to exhibit good financial results each year, as reflected in the three - fold increase in total assets to rm6. 5 billion in june 2006, as compared to rm1. 9 billion five years ago. more significantly, average doubledigit growth rate of 18. 9 % for net contributions of combined family and general takaful in the past three years, demonstrated the high potential of the industry. whilst sustaining the current pace of development, there still exists high growth prospect for the takaful sector, in view of the large untapped potential, with the market penetration rate recorded at merely 6. 1 % in june 2006. ladies and gentlemen, bank negara malaysia has laid down a number of initiatives to further enhance the competitiveness and growth momentum in the development of the takaful industry. these initiatives emphasised on enhancing operational efficiency, strengthening corporate governance and risk management as well as improving the market practices and consumer awareness. all players need to capitalize on