students. in addition, it is envisioned that inceif will act both as a professional certification body as well as an education centre for post - graduate programmes in islamic finance. with the firm commitment to build human capital, the challenge is to formulate the appropriate strategies and mobilise the resources necessary to produce results that will enhance the intellectual capital of the industry. this will require the combined efforts of internal strategies within banking institutions, that involves a holistic approach that coordinates the strategies for human resource management and development reinforced by strategies for organisational development. this will also involve putting in place the appropriate processes and structures. a total solution will be required. these efforts will also need to be supported by education providers. finally, this initiative of bilateral engagement on the issues in developing talent in the industry will also gain from the synergy and will contribute to strengthening the ability to further the agenda of building human capital in the financial services industry. on this note, i wish you a productive and successful conference. thank you.

muhammad bin ibrahim : issues surrounding intellectual property welcoming remarks by mr muhammad bin ibrahim, deputy governor of the central bank of malaysia ( bank negara malaysia ), at the intellectual property financing conference 2014, kuala lumpur, 23 september 2014. * * * it gives me great pleasure to welcome you today to the 2014 intellectual property ( ip ) financing conference – themed “ ip potentials in financial landscape evolution ”. i would like to thank the malaysian intellectual property corporation and the asian institute of chartered bankers for co - organising this event with bank negara malaysia. we are also grateful to secretary general dato ’ sri alias bin haji ahmad for joining us today to deliver the keynote address and officiate the conference. in the age of the information economy, the importance of intellectual property as a key enabler of productivity and economic growth has become significantly more pronounced as intangibles make up an increasing proportion of business investments. this conference was carefully designed to raise issues surrounding ip. many issues and questions require resolutions and insights. how do we achieve strong and effective ip protection that will encourage companies to bring new innovations to the market? how do we unlock the value of ip within businesses and encourage the financial system to make better use of this value in financing decisions? how do we start to develop a more transparent market for ip assets? these are some of the issues and questions that the conference should explore to optimise the full potential of ip in malaysia. the world ’ s economy continues to transform into one that prioritises knowledge - based production and services. 53 % or more than half of global market capitalisation is now derived from intangible assets. for example the s & p 500 companies encompass over 80 % of market value. ip, a major component of intangible assets, is now truly becomes the primary contributor to business value and wealth creation. the significance of ip is also not confined to the developed economies alone. since 2010, east asia has overtaken north america and western europe in the number of international patent filings. with deeper economic integration within asia, this shifts has an important implications on the economic growth potential for businesses in the region. in malaysia, ip has been growing steadily. the number of patent applications in 2013 has more than doubled than that in 1993. for trademarks, it has more than tripled. despite these clear trends, we have yet to fully leverage the value and significance of intangibles, including ip in particular, as an important asset to create growth opportunities