##h governance framework has met its intended objectives, we are now in the midst of reviewing and strengthening the framework in response to the evolvement of the industry. the securities commission malaysia and the labuan financial services authority are also vested with similar powers, and are equally committed to building a robust and comprehensive framework for islamic finance in malaysia. our policies also strive to be forward looking and responsive to the needs of the world. for example, the sustainable and responsible investment or sri framework developed by the securities commission has enabled the issuance of sri sukuk for education in 2015, and green sukuk just a few months back, which was the world ’ s first. our islamic finance industry is also backed by robust market infrastructure, including an islamic interbank money market that provides funding and liquidity support for the malaysian islamic banking system. for islamic fund management, bursa malaysia ’ s islamic securities exchange platform provides a marketplace that is conducive for shariah investing. 1 / 2 bis central bankers'speeches second, a vibrant islamic financial system must have a wide array of players and participants. these range from islamic financial institutions, fund management companies, takaful operators and investors – both retail and institutional investors. another key player of a vibrant islamic financial system is professional services firms. in malaysia, these firms play a critical role as facilitators of growth, providing support to various stakeholders of islamic finance. we have more than 60 experienced professional services firms offering specialised services in islamic finance. collectively, this ancillary network offers a wealth of expertise – in shariah advisory, law, i. t, tax, audit, research and training, to name a few. over the years, some of these professional services firms have developed a strong reputation for their technical excellence, and have established an international presence. our professional services firms are keen to share their experiences and to assist foreign clients and countries interested to develop islamic finance. our experiences include provision of advisory services to shariah funds and asset management companies in the u. s, switzerland and south korea ; and to sovereigns and corporates on sukuk issuances. our legal firms have also played a part in the development of legal and regulatory frameworks for islamic finance in a number of countries. contributions have also been made in the area of research, education and training, with more than 50 international projects, training and customised programmes delivered to international clients since 2010. the third imperative is in the area of talent.

the success of an islamic finance system depends critically on having the right set of quality talent. this is more so as we aspire for islamic finance to reach greater heights, in this new normal of rapid advances in technology and changing demographics. accordingly, malaysia has made significant investments in developing a complete ecosystem dedicated to meeting the human capital needs of the islamic finance industry. our talent infrastructure caters to every level, for both academic and professional needs. dedicated talent entities for islamic finance have also been set up, such as inceif – a global university for islamic finance – and isra, a globally recognised institution in enriching research and knowledge on shariah. an important aspect of talent development is elevating the quality and professionalism of talents in islamic finance – not just in malaysia, but globally. in realising this vision, the chartered institute of islamic finance professionals was set up to promote the highest standards of professional practice among islamic finance practitioners. this is complemented by the establishment of the association of shariah advisors in islamic finance to enhance the qualification and professionalism of the shariah fraternity. two specialised certifications will be launched by the association early next month which aim to strengthen technical and ethical rigour of shariah advisors and practitioners. with an increasing range of options for professional qualifications for islamic finance, the finance accreditation agency ’ s islamic finance professional qualification structure – to be launched today – is a timely and much welcome milestone. as a learning reference structure, it streamlines and classifies the levels for islamic finance professional learning programmes. for islamic finance professionals and the organisations they represent, this will help them make better informed decisions when evaluating the suitability of the wide array of professional learning programmes on offer globally. i hope that today ’ s event would help bring you a step closer to realising your respective organisation ’ s goals in islamic finance. with that, i wish you a productive afternoon. 2 / 2 bis central bankers'speeches