- day financier will ask for a pound of flesh as collateral as shylock did from antonio, there remains many unscrupulous lenders who take advantage of those facing financial distress by offering loans at astronomical rates, as well as financial scammers that offer unbelievable schemes which they do not intend to honour. the tragedy being that there are still many desperate and unsuspecting financial consumers who succumb to these, at the expense of their own financial futures and that of their families and dependents. the role of financial planners and advisers in this age of disinformation becomes even more relevant. it is my pleasure and honour to be invited to deliver today ’ s keynote address, to share my views on the importance of ethical conduct in upholding the trust of financial consumers in the quality of financial services and advice offered by financial practitioners. alleviating the impact of covid - 19 the wide - reaching impact from efforts to contain covid - 19 has exposed long - standing fault lines and gaps in financial management among households and businesses. while essential for the protection of lives, the impact of global and national containment strategies in the form of mass or targeted lock - downs have inadvertently impacted the livelihoods of many segments of society. these lock - downs have been gradually uplifted and are temporary in nature, but for consumers who lack adequate financial safety nets, the after - effects are real and significant. in line with our intent of providing financial reprieve to those adversely affected by this pandemic, 1 / 3 bis central bankers'speeches bank negara malaysia has worked tirelessly with the banking industry to provide loan moratoriums and targeted repayment assistance to individuals and entrepreneurs who have lost their jobs or whose earnings have been adversely impacted. similarly, we have also worked with the insurance and takaful operators to implement premium and contribution deferments from 1 april 2020 until the end of this year, to ensure policyholders and takaful participants who face temporary financial constraints can preserve essential coverage during these unprecedented times. if covid - 19 has taught us anything, it is that events that can lead to an economic slowdown are unpredictable, making it critical not to wait until we are in the thick of it to get our financial lives in order. this is true, but today, let ’ s focus on you, the financial advisers and practitioners. there has never been a time where sound guidance and advice are most needed to help clients rebuild and fortify

funding of terrorism activities. this is consistent with the terrorism financing regional risk assessment findings at the 2nd ctf summit in 2016 in bali, where one of the priority actions identified was for fius to improve the visibility and insights into the nature of terrorism financing in the region. the idea is intended to help fius gain better insights into the role of financial and transit hubs in regional and international terrorism financing networks. closer international cooperation another area to ensure an effective mitigating strategy requires closer regional and global cooperation, particularly in the sharing of intelligence and technical know - how. terrorism and terrorism financing are global issues that demand global solutions. sharing of intelligence and expertise across borders will go a long way towards enhancing the effectiveness of our risk management framework. in this regard, the various working groups under the ctf summits, the financial intelligence consultative group and international community of experts have done commendable efforts and initiatives in building capacity and sharing operational experiences in the region. this must continue to be strengthened given the challenges that we will face. conclusion the fight against terrorism financing is an on - going battle that will continue to evolve in line with the ever - changing landscape of the financial industry. in the era of rapid technological advancements, it is essential that the financial sector ’ s risk management strategy remains agile in order to mitigate emerging risks. this requires not only the development of innovative technology - based deterrents and pro - active detection systems, but also effective cooperation between the public and private sector, law enforcement domestically and across borders. we stand ready to work alongside all key stakeholders, in both the public and private sectors, local and abroad, to ensure our financial sector is resilient to face the threat of terrorism financing within the country and in the region. 3 / 3 bis central bankers'speeches