skills to confidently make responsible financial decisions at key stages of their lives. we need to promote healthy attitudes towards financial management. and in kofi annan ’ s words, we need to build a bridge to hope for every malaysian who has been affected by the pandemic crisis – not just to tide over the immediate challenges that they face, but to provide for their future financial security. with this in view, this community of practice aims to help fen members and the broader financial education community develop effective responses to meet the challenge of delivering lasting and impactful financial education to society. the community of practice agenda today focuses on two key areas. the first is the measurement and evaluation of financial education and its effectiveness. strengthening measurement and evaluation is a key pillar of fen ’ s strategies to increase the impact of initiatives implemented by fen and its members. this would enable fen members to design more effective and tailored financial education programmes, that also optimises resources, to achieve sustainable behavioural change. by strengthening the focus on outcomes and impact, we can reinforce effective practices and support the continuous improvement of programmes. with this in view, fen is committed to develop and execute an annual measurement and evaluation process for financial education programmes that support the national strategy for financial literacy – to be implemented from 2022. 2 / 3 bis central bankers'speeches the second area of focus today is on opportunities to make better use of data and behavioural insights to advance smarter financial education. a key challenge that we face today is the misalignment between information and resources made available to financial consumers, and the way in which they consume, process and act on such information. behavioural insights can help us close this gap to make better use of the tools at our disposal to bring about positive change. advances in technology are also opening up new opportunities to leverage on behavioural insights to achieve more effective financial education interventions. the ability to gain much deeper and richer insights into consumer behaviour are now possible, and could completely change the way we think about and deliver financial education interventions. the community of practice enables us to tap into a reservoir of knowledge and expert resources to explore new opportunities and ideas, and strengthen existing collaborations to take the financial education agenda forward. as fen continues to grow, we hope to further expand the community to provide thought leadership and strategic insights that will benefit all fen members and partners in our joint efforts to raise the level of financial literacy in malaysia. on this note, let me thank everyone again for taking the time to share your perspectives

can be addressed if all the relevant participants to the islamic financial sector - the industry, the regulators, the market participants and the academia are willing to forge their efforts together on a continuous basis to elevate the performance level of islamic finance. today, we are paving the way for closer collaboration between inceif and the institutions of higher learning in malaysia to realise our common objective of developing the pool of expertise in islamic finance. this collaborative move, would establish a network of mutual co - operation and collaboration that would strengthen the efforts between the institutions of higher learning in the areas of curriculum development, research, training, exchange of ideas and information, and resources in islamic finance. this partnership in connecting the knowledge communities in malaysia needs to be developed and maintained on a long - term basis. entering into strategic alliances with institutions of higher learning, islamic financial institutions and other organisations would create greater synergy, which may bring about new approaches, new technologies and new areas of specialization. collaborative efforts between inceif and institutions of higher learning in particular, would strengthen the ability to leverage on the respective institutions'expertise in research. the introduction of new research findings in islamic financial engineering could pave the way for increased innovation of new products. this would contribute towards broadening and deepening islamic financial markets and thus strengthen the overall development of the islamic financial industry. in addition, active collaboration between academic researchers and the practitioners will enable the practical application of research findings. one of the strategic steps that inceif has initiated is the forging into strategic alliances with the five takaful operators to collaborate in promoting and undertaking research, development, training and education in islamic finance. in the international arena, inceif has also established strategic alliances with the islamic research and training institute ( irti ) of the islamic development bank, lembaga pengembangan perbankan indonesia ( lppi ) of bank indonesia, national institute of banking and finance ( nibaf ) of state bank of pakistan and ceylinco sussex business school, sri lanka, among others. inceif is also in the midst of finalising its collaborative efforts with organisations in the united arab emirates, kuwait, bahrain and qatar. initiatives have also been taken to enhance the pool of talent is in the field of shariah. this has been done by awarding research grants and scholarships to deserving outstanding candidates. this initiative will be funded by the shariah endowment fund which was announced in august this year. the applications for the sharia