soon be called out very publicly by your own dissatisfied customers. on the other hand, if you successfully build a reputation of high professionalism and integrity, this will ensure the longevity and growth of your business and consumer base. the fen is an inter - agency platform comprising of institutions and agencies committed to improving the financial literacy of malaysians. fen leverages its members ’ expertise and resources to coordinate, co - operate, and collectively drive efforts to promote effective delivery of financial education initiatives to malaysians under the national strategy for financial literacy ( 2019 – 2023 ). 3 / 3 bis central bankers'speeches

their financial positions. if done well, not only will you help them weather through the current financial storm, you have the golden opportunity to put them in a position to better insulate themselves from the next crisis, whatever or whenever that may be. the importance of ethical financial planning for many, financial planning can be a complicated and daunting task. with increasing complexity and choice of financial products and services in the market, trust becomes a fundamental element to ensure clients are offered products that are most suitable to their needs and financial circumstances. to gain this trust, financial advisers must adhere to high ethical standards in all their dealing with their clients. this in turn requires financial practitioners to place the best interests of their clients above their own interests of making fast profits or earning high commissions. to ensure that all financial service providers strive to uphold the highest levels of professionalism and integrity, the bank issued enhanced corporate governance standards in 2016. in november 2019, the policy document on fair treatment of financial consumers was issued. this policy document sets six principles or outcomes which financial service providers are required to deliver in their dealings with financial consumers. key of which includes the requirement for the board and senior management to set clear expectations on fair treatment and ensure that these expectations are embedded in the institution ’ s corporate culture and core values. the existence of such rules coupled with effective enforcement when these rules are breached is essential, given that failures of corporate governance have been at the root of many wellknown cases of institutional failure. a recent example being the successful conviction of the operators of the infamous genneva gold investment scheme for illegal deposit taking, which has landed its former directors and advisers in jail. and certainly there are many more. let us all work together to weed out and prevent such nefarious schemes from taking root in malaysia. role of financial practitioners most financial decisions at the individual level are determined by a person ’ s behaviour and mindset. in view of the uncertain economic conditions we are faced with, you play an important role in nurturing strong relationships with consumers to facilitate positive behavioural changes in them. given the right intervention, motivation and self - discipline, we can elevate the level of financial literacy of any individual while promoting healthy financial attitudes and behaviour. in relation to this, i would like to extend my sincere thanks to the mfpc committee members for its effective support and partnership with the financial education network1 or fen. i applaud the proactive efforts by financial advisers to publish educational and inform