this cooperation has also included active participation in public - private partnership initiatives, including the national scams response centre. as a member of the financial action taskforce or fatf, malaysia will once again be undergoing a mutual evaluations exercise in 2024 and 2025. for the uninitiated, this is an in - depth assessment of the country's measures to combat ml / tf risks and its compliance with the international standards set by the fatf. this will be the fourth time for us and the last one was done in 2014. it is my hope that the stride made in malaysia's aml / cft ecosystem, strong commitment of all institutions towards a highintegrity financial system, and effective cooperation between the industry and public authorities will be reflected in the eventual outcomes of the evaluation exercise. in particular, it is paramount for all staff of reporting institutions to maintain high professional standards, adhere to existing confidentiality requirements, and undergo adequate aml / cft trainings. ladies and gentlemen, i would like to leave you with a line that is often quoted when speaking about integrity : " integrity is doing the right thing even when no one is watching ". while the quote may have been over - used, it has not dimmed its truth one bit. it is much easier to do the right thing under other watchful eyes, the safety barriers of procedures, or even the instruction of prescriptive rules. but oftentimes, the decisions that will matter most are what we choose to do when nobody, but our conscience is watching. it is when an institution knows without doubt that its people will stay the course in these situations that it can truly claim to have achieved the ideal culture. 3 / 4 bis - central bankers'speeches before i end, i would like to congratulate aibim on the launch of integrity year 2023 and it is my sincere hope that all participants, whether in this room today or from your respective institutions, will benefit from a deeply beneficial and fulfilling programme planned for the rest of the year. thank you and assalamu'alaikum. 4 / 4 bis - central bankers'speeches

adnan zaylani mohamad zahid : islamic finance, e - payments and fintech opening speech by mr adnan zaylani mohamad zahid, assistant governor of the central bank of malaysia ( bank negara malaysia ), at the 3rd islamic fintech dialogue ( ifd2020 ), 1 december 2020. * * * it really is a pleasure for me to join you this afternoon to be part of what i am sure will be an illuminating and stimulating dialogue over the next two days. i would like to record bank negara malaysia ’ s appreciation to isra for organising this, but also more broadly, its continued contribution to the development of islamic finance not just in malaysia but internationally. as a prestigious research academy, it needs to produce prestigious and breakthrough research, and it needs to have events like this dialogue to further advance the knowledge and exchange of ideas and the cause of islamic finance. in 2011, bank negara malaysia issued a 10 - year financial sector blueprint. one of the key agendas we wanted to drive was to promote e - payments ; at the time, greater use of payment cards, internet banking and online fund transfers. little did we expect that ‘ fintech ’, which according to google trends was still a nascent term at the time, would grow at the pace and scale we are seeing today. it appears that interest in fintech only picked up rapidly from 2015. today, many countries, including malaysia, have adopted it as a key development theme for their financial sector. indeed, fintech is to take us beyond payments – faster and cheaper delivery of a far wider range of financial services. increasing outreach and inclusion. injection of new competition and transformation of the industry. we see this materialising. there are well over 12, 000 start - ups disrupting the financial market globally with fintech investments reaching a record high of $ 150. 4 billion in 2019. the international monetary fund ( imf ) reported that as of april 2019, there were around 200 fintech start - ups in malaysia in the areas of payments, blockchain, and lending. cpa australia apprised that over 75 per cent of malaysian businesses have embraced at least one fintech product or service over the past 12 months, according to a regional survey. while the disruption continues, traditional financial institutions have been responding. insights from pw c indicate 77 % of traditional financial institutions are increasing internal efforts to innovate, 56 % have put disruption at the