code of conduct and principles was issued last year by bank negara malaysia. in a more positive light, there is evidence that public trust in banks around the world is improving. this is something we can build upon. the right place of finance is to be the catalyst for the economy. as guardians of public trust, bankers must protect the system against any threats. this means protecting against abuse, misconduct and exploitation. no banker should tolerate misselling of products to customers which are not suited to their needs. no banker should tolerate charging excessive and hidden fees to unsuspecting customers and use these fees to excessively enrich themselves. no banker should tolerate unethical and illegal behaviour of a fellow colleague. no banker should tolerate any wrong doing or misconduct. the currency of bankers is not money but trust. loss of trust is calamitous for the profession. 1 / 4 bis central bankers'speeches for us in malaysia, our approach to ensure professionalism, trust and confidence rests upon a two - pronged strategy. the first is to create a system that upholds the values of honesty and integrity. professional organisations such as aicb play a crucial role in this, with the chartered banker accreditation as a tool. the syllabus for this qualification places importance on ethics and professional standards. the requirement for fresh graduates to undergo an induction course on ethics is also a good starting point. there are other initiatives in store, we will step up efforts to ensure that the roles, responsibilities and accountabilities of leaders of financial institutions are clear and transparent. to this end, consultations with the industry will be conducted this year on proposals to sharpen accountability of individuals holding senior roles. the second complementary strategy is to create an enabling environment to empower financial institutions to make informed and sound hiring decisions. effective 1 july 2018, it will be a requirement for financial institutions to screen all new hires, except those performing ancillary functions. this includes their employment history and criminal records. financial institutions will be required to keep proper records related to employees and to provide the required information when requested by another institution. this will guard the system against disreputable staff and enact barriers against potential threats to the integrity of the system. as guardians of the system, bankers need to look at these requirements as useful enabling tools or defenses that help with their mission to successfully protect the integrity of the system. guardians of knowledge and wisdom the complexity scientist, samuel arbesman in his study of how knowledge develops,

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