set the minimum requirements on the pathway of becoming chartered professionals and for financial institutions to become accredited institutions that would enable the training of staff as islamic finance professionals. more is in the pipeline and i am confident that ciif is committed towards developing the highest quality of guiding principles and guidelines that are in line with the current and future developments. another bold action that we shall embark on is the transformation of the association of shariah advisors in islamic finance ( asas ) to become the leading professional body for shariah advisors. this transformation would further complete the islamic finance service providers ecosystem. this is envisioned in the financial sector blueprint, with standards to be set for professional programmes, qualifications and continuous professional education on shariah. i would like to congratulate the board and management of ciif on its official launch. i am confident that ciif can contribute towards higher professionalism for the islamic financial services industry. i am confident ciff would embed a culture that places unequivocal commitment to professionalism and ethics that would raise the prestige of the islamic finance industry and its practitioners. bis central bankers ’ speeches

be useful for tomorrow, but more likely, would not be sufficient to meet future challenges. it is with this realisation that we should strategically implement a plan of action to develop true professionals who would lead the industry to the next stage of development, and recognised and respected as authorities in their chosen fields. these professionals should produce results that exceed expectations. they should also possess the highest degree of integrity in personal and business dealings. they are expected to adhere to ethically - driven values that reflect shariah principles. they should be regarded as the true exemplars of islamic finance. in short, they are the embodiment of what is good about islamic finance. the establishment of ciif is therefore a significant milestone in our collaborative efforts to raise the bar for professionalism and ethics in the industry. we aspire for ciif to become the global body for professionals in islamic finance. as we envisage ciif as the leading driver and advocator of professionalism and ethical conduct, we should expect the new body to adopt global best practices of similar professional institutions. bis central bankers ’ speeches ciif will embark on a task that is both revolving and rewarding. a key imperative for ciif to advance in its quest, as the advocator of the highest degree of professionalism and ethical conduct amongst islamic finance professionals, is for the professional body to receive strong and continuous support and recognition from the industry. the industry cannot be a passive player. it must be an activist. together with ciif, it must be a strong advocator of professionalism and ethics. the signing of a first of its kind industry - led charter between the association of islamic banking institutions malaysia ( aibim ), malaysian takaful association ( mta ), the malaysian investment banking association ( miba ) and ciif is a very strong reflection of the industry ’ s support. this public commitment by aibim, mta and miba acknowledges the noble intent of ciif. it is also a pledge by the industry to provide the required support by allocating the needed resources in our endeavour to create and promote an internationally recognised islamic finance professional body. industry recognition to the bearers of ciif qualification as highly qualified and competent professionals will give an added boost to the entity as it embarks on this important journey. although ciff is only being officially launched today, the entity has completed two guiding principles and two guidelines which will be launched today. these issuances will