whole - of - ecosystem alignment to the values of islamic finance. in a beautiful hadith narrated by abu musa in the sahih al - bukhari, prophet muhammad ( peace be upon him ) said, " a faithful believer to a faithful believer is like the bricks of a wall, enforcing each other. " this hadith reminds us that it is not going to be the work of one, but the work of many to reap the positive outcomes of islamic finance. this would involve not only islamic financial institutions, but also shareholders, investors, businesses, households, regulators and all players in the ecosystem. all stakeholders must understand and accept the fundamental goals of islamic finance to fully harness its " beyond profit " proposition. the shariah advisory council of bank negara malaysia has identified seven fundamental values of islamic finance. these are : ( 1 ) prevention of harm and attainment of benefit ; ( 2 ) money only as a store of value or medium of exchange ; ( 3 ) attainment of profit from accepting or sharing risk ; ( 4 ) balanced wealth creation with wealth transfer and circulation ; ( 5 ) assurance of transparency and traceability ; ( 6 ) shariah compliance, and ( 7 ) fairness and attainment of excellence. 2 / 4 bis - central bankers'speeches i believe that mainstream acceptance of these values – even financial institutions and groups which operate in both the islamic and conventional space – will facilitate more concrete action towards implementing value - based finance across the whole financial system. for example, in deploying blended finance to extend impactful solutions for underserved segments of society, investors and consumers must appreciate that the return on capital invested might not be immediately realised, and that the " return " should not be solely measured against a financial yardstick. after all, long - term value creation and spill - over impact to the economy, society or environment are also integral considerations for value - based finance. the second imperative that reinforces the first one is action - oriented leadership, which is very much in the same spirit as this year " s theme, " take the reins ". one such area where we believe this to be important is in further advancing malaysia as an international islamic financial centre. with the maturity of islamic financial sector in malaysia, we believe that the industry is now well - positioned to drive the malaysia international islamic financial centre ( mifc ) agenda. thus, it gives me great pleasure today to announce the establishment of the mifc leadership council, a joint initiative of bank

zeti akhtar aziz : malaysian financial sector developments opening speech by dr zeti akhtar aziz, governor of the central bank of malaysia, at the malaysia financial exhibition 2007, kuala lumpur, 30 october 2007. * * * it is my pleasure to be here this afternoon at the opening ceremony for the malaysia financial exhibition 2007 or myfex2007, organised by pidm, perbadanan insurans deposit malaysia. pidm was established two years ago to reinforce the role of bank negara malaysia in ensuring the soundness and stability of the financial system. pidm forms part of the financial safety net and plays a crucial role in administering an effective deposit insurance system that promotes public confidence in the soundness of the banking system. public confidence is key to financial stability and to the efficient functioning of the financial system. in this context, pidm is actively raising awareness about deposit insurance and this exhibition is an effort to frame deposit insurance within the larger scope of the financial landscape. a financial system that is not firmly rooted in the public belief that it is safe and sound cannot hope to expand and evolve successfully. this confidence is enhanced with having an effective deposit insurance whose role is to act in the best interest of depositors. with an explicit deposit insurance system, depositors can have further certainty of the safety of their money at the banking institution as well as knowing that banking system has a strong element of protection that can be count upon. the malaysian financial sector has undergone significant transformation and progress since we launched the financial sector masterplan in 2001. this is particularly most evident in the banking sector which has undergone restructuring, consolidation, and rationalisation. gradual deregulation and liberalization has also altered the financial landscape bringing with it improved performance and enhanced resilience. this has further matured the banking sector and paved the way for new areas of growth. besides these tangible results, structural changes have also taken place in the form of the emergence of new entities, the increased presence of new international players and more diversified and developed financial markets. the advancement of deregulation and liberalization have also increased competition which has in turn resulted in further new business opportunities. within the context of these developments, the banking sector has become an important pillar of strength of our economy. one dimension that is growing rapidly in the context of these developments is the rise of consumerism. the improvement in the quality of life, the rising affluence and better education has resulted in a new generation of consumers whose