##lif. the fide programme has become a standard bearer for exceptional directors ’ education with its deep dive into the nuts and bolts of practical governance, its link to supervisory expectations, and a delivery approach that effectively combines the use of exceptional faculty and the rich experience, knowledge and insights of the participants. to date, more than 600 directors from financial institutions, including directors from the regional offices of both foreign and domestic financial institutions, have attended the fide programme. this has had a visible impact that in bringing about important positive changes in how boards function and interact with senior management. both fide forum and iclif are uniquely positioned to advance corporate governance in the financial sector. after all, they bring together those who represent the ultimate governing body of financial institutions, with great responsibilities and accountability. such an opportunity must be capitalised and not wasted. fide forum and iclif should therefore complement each other and avoid duplication. there are significant benefits to be gained from an effective partnership where resources can be channelled to increase the collective impact of programmes and initiatives by the two organisations. in my own engagements with the industry, over the years, coordination and cooperation among financial institutions can become game changers for the industry. in this respect, we should fully appreciate the distinctive purpose of iclif and the fide forum and how they coordinate with each other within the space of directors ’ development. with close coordination and cooperation we can avoid the redundancies and wastage and realise the synergistic benefits from the alliance between the two organisation. being a director of a financial institution will demand a lot from the individual. it is a position of trust where integrity is the norm. it should be, given the critical role of financial institutions in any economy. bis central bankers ’ speeches as a network of financial institution directors, fide forum provides a valuable resource for directors as they navigate the heavy responsibilities that come with the position. fide forum should continuously raise the bar on director performance by advocating best practices and providing support to its members in helping solve real problems confronting boards today. it should be a respected voice on important issues of corporate governance, an epitome of best practices of corporate malaysia. most importantly, it should build an enduring legacy for future leaders of financial institutions by representing within its collective membership the highest standards of integrity, professional conduct and intellectual integrity. indeed, fide forum ’ s success must surely be measured not only by how well it serves its current membership, but also by how it expands its reach and influence to attract

##ing in the advanced economies, more moderate growth in china and continued volatility in the global financial markets. for the last two decades, malaysia has been becoming more integrated with the regional and global economy. the recent conclusion of the asean banking integration framework and trans - pacific partnership agreement, if properly sequence and implemented, provide further opportunities for malaysian companies to expand abroad. but expansion beyond our shores poses new challenges as financial institutions will navigate unfamiliar territory. the operational environment will be different. the business model will require remodelling. board members are therefore expected to familiarise themselves with the economic, financial and social environment of foreign markets if they are to be effective and successful. bis central bankers ’ speeches along with higher expectations, there has also been a noticeable increase in the absolute demand for financial institution directors in malaysia. since a decade ago, the number of directors in the malaysian financial sector has increased significantly. this can be attributed to several factors. one reason is the increase in the number of financial institutions arising from the establishment of new islamic banking and takaful entities within existing banking and insurance groups. besides that, financial institutions have also progressively strengthened the composition of their boards. this was largely driven by the need to bring more diverse perspectives and skills to the board to meet the growing demands placed on it, and to better prepare for board succession. in the process, we also saw independent directors forming a majority on boards of more financial institutions, including some of the largest domestic financial institutions in the country. it is important to emphasise that this growing demand has not been just about numbers ; it is more importantly about the quality of talent that boards must have to perform their role effectively. fide forum and icilf – working together to increase their impact and influence it is against this backdrop of growing demand that fide forum has stepped in to offer financial institutions a platform to connect with potential directors from both within and outside malaysia. the directors register achieves this in two ways. firstly, by identifying board - ready individuals who already have the necessary skills, knowledge and experience. and secondly, by initiating into the talent pool individuals who have the calibre to serve on financial institution boards, but require development in certain areas, such as those specific to the banking or insurance industry. by significantly widening the supply sources, this initiative is in many ways a game - changing initiative to strengthen the talent pipeline for financial institution boards. the directors register complements the education programmes that have already been introduced for financial institution directors under ic