of internal operations. the third priority is to build a stronger business connectivity by tapping wider business prospects. the takaful industry in malaysia is poised to benefit from various national economic plans including the national energy transition roadmap and new industrial master plan, alongside the'ekonomi madani : memperkasa rakyat'framework. in tapping these opportunities, the future direction of takaful demands a broader perspective and commitment to address issues of scale, expertise and risk appetite. diversification and expansion, beyond the current concentration in personal lines ( e. g. motor and fire ) are essential. this would mean building own capabilities and knowledge to venture into unfamiliar risks, where coordination and cooperation are key alongside innovation - involving various disciplines of shariah, product, risk, strategy and actuarial ; and often with the support of retakaful and reinsurance players. malaysia has an enabling ecosystem with growing demand for islamic finance, either from individuals or businesses to support various economic needs. today, halal industry is also at the centre stage of many jurisdictions in the world, supported by the shift in demand globally from both muslims and non - muslims towards ethical consumption. takaful operators should leverage on the halal ecosystem and meeting the takaful needs for property and business protection to complement the wide range of trade finance solutions for importers and exporters. joint efforts in targeted financing initiatives such as the itekad for smes also provide an opportunistic avenue to foster collaboration to tackle the pain points of accessibility, trust, affordability and protection against unforeseen events. for the retakaful players, it is imperative to capitalise on malaysia's strength and ecosystem for business outreach to asian region and beyond. more countries are 3 / 4 bis - central bankers'speeches working on the necessary regulations to enable takaful offerings and scaling up the contribution of the sector. retakaful players in malaysia, with ready expertise and capabilities could provide capacity to support growth and expansion of the takaful industry in other markets. ladies and gentlemen, as we stride forward, the three sets of priorities i have explained earlier on value - based offerings, exemplary conduct and business connectivity calls for transformative actions, to chart a future direction of the takaful industry that is agile and responsive to the evolving needs of the modern and digital society. having a wide pool of high - calibre, knowledgeable and skilled workforce is paramount to drive these priorities. the

sentence in the modern version of the hippocratic oath is particularly resonating : “ i will remember that there is art to medicine as well as science, and that warmth, sympathy, and understanding may outweigh the surgeon ’ s knife or the chemist ’ s drug. ” ultimately, to make sense of what we do in our profession, we cannot shy away from its purpose. to echo the words of the poet william butler yeats : “ though the leaves are many, the root is one. ” as a community of bankers, we should have one overriding root purpose – to serve and steward our community. the services we offer are to serve the larger interest of the community. we do not originate a loan merely to meet business targets, but to enable individuals to own homes, businesses to create jobs and for overall societal wellbeing finance exists for society, not society for finance. we can no more detach ourselves from this social purpose than we can separate humanity from humans. it ought to be an inherent part of us, our profession ’ s dna. this sense of identity and purpose should ground all our pursuits. it is also the thread that ties all 3 / 4 bis central bankers'speeches functions of banking together. whether you are in the credit, compliance, it, risk management or audit functions, you share a common purpose to society and duty to serve the public interest. as we reflect back over the centuries, the first banks in the ancient world made grain loans to farmers and traders who travelled between cities. during the 15th – 18th century, banks also catalysed the financing of international trade, subsequently ushering in a new age of maritime discovery and exploration. the banking world then served the real needs of the economy. however, the creeping commodification of finance over the years has gradually blurred the nature of finance, with excessive risk accumulation driven by greed and perverse incentives. serving the needs of the real economy is key. that is why issues such as financial inclusion, financial literacy and financial planning are so important to us as our nation progresses. as professional bankers, we should think beyond profits and understand how to meet the evolving needs of the economy. like the medical profession, we cannot begin to prescribe a solution without first diagnosing the needs of the customer. as an industry we should aspire that one day, consumers may walk into a bank, safe in the knowledge that bankers will always have their best interest in mind. that each encounter with the