competitiveness. we need the remarkable force of corporate leaders to fuel the drive towards long - term growth and stability. we need dynamic leaders to push the frontiers of excellence – leaders who are constantly learning and possess the courage to take on new challenges. in this process, avenues for continuous learning must be actively sought. the establishment of iclif is part of our commitment towards providing such an avenue to enhance our leadership capability and develop world - class leaders in the financial services sector. towards this endeavour, the centre is currently in the process of developing a unique leadership competency model that will analyse and understand what makes for great corporate leaders in our regional context. at the same time, the centre is putting together a world - class global leadership development program ( gldp ) with leading consultants and drawing faculty from the best schools in the world. the global leadership development program represents ground - breaking design in terms of an executive education program. by drawing faculty from not just one or two, but up to five leading institutions, the centre will be able to combine the best ideas and thoughts in the world on the various key leadership issues and concerns. the centre ’ s role will not be to replicate the roles of institutions of higher learning, but rather to facilitate and provide specific, directed and targeted learning based on the requirements of our industry. in addition to its board of directors, the centre will also be governed by an international advisory panel comprising eminent personalties. in the process, participants will benefit from the best of all worlds in terms of the latest thinking on leadership issues. it is envisaged that the centre will also serve to complement and supplement the existing capacity building facilities in the financial and corporate sector to become a regional centre of excellence for leadership training in finance. the centre aims to reinforce the notion that investments in human capital, including the pursuit of leadership excellence, is a continuing process in this ever - changing environment so as to enhance the calibre of our human capital in the financial and corporate sector in meeting the challenges ahead as we advance forward in this new millennium.

zeti akhtar aziz : launch of amislamic bank berhad speech by dr zeti akhtar aziz, governor of the central bank of malaysia, at the official launch of amislamic bank berhad, kuala lumpur, 18 may 2006. * * * it is my pleasure to be here this morning on the occasion of the launch of amislamic bank berhad. this strategic move to establish the islamic banking subsidiary that will operate under the more universal islamic banking act will increase further the potential avenues for business expansion. it will also increase the potential to benefit from the rapid growth of islamic banking and finance both in the domestic and international environment. ladies and gentlemen, on the domestic front, all sectors within the islamic financial services industry, which includes islamic banking, takaful and the capital and money markets, continue to register strong performance. to date, the islamic banking assets amount to rm113. 5 billion and the takaful assets stand at rm5. 9 billion. the amount of approved islamic bonds in 2005 exceed rm40 billion, while the islamic money market has recorded sizeable monthly turnovers of rm135. 2 billion. similar progress has been achieved on the international front. there has been a significant increase in the number of islamic financial institutions that have been established in the global financial system, and the funds seeking for shariah - compliant investment avenues have also increased dramatically. ladies and gentlemen, for more than two decades, our efforts have been directed to put in place the pre - requisites for the development of an effective and competitive islamic financial system. with the strategic components and domestic financial infrastructure in place, steps have now been taken to liberalise our domestic islamic financial system - this has aimed to strengthen further our international financial and economic linkages. the liberalisation is evident on several fronts. this has diversified the players in our financial system with the issue of new licences to foreign players and the increase in the allowable foreign equity participation up to 49 % in both islamic banking and takaful industry. this initiative has also created a more competitive environment, thereby driving further progress in the development of the islamic financial system. in addition, it has promoted innovation, increasing the range of products and services being offered. efforts to develop the domestic bond market have been intensified to diversify the structure of the islamic financial system. this has allowed greater flexibility by investors in the management of their funds while the ability of foreign corporations to raise