The Asian Institute of Finance Berhad (AIF) is a

nonprofit A nonprofit organization (NPO) or non-profit organisation, also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in co ...

organisation in

Malaysia Malaysia ( ; ) is a country in Southeast Asia. The federation, federal constitutional monarchy consists of States and federal territories of Malaysia, thirteen states and three federal territories, separated by the South China Sea into two r ...

. Its main purpose is to enhance human capital development and talent management across the Asian financial services industry. AIF's headquarters is located in

Kuala Lumpur , anthem = '' Maju dan Sejahtera'' , image_map = , map_caption = , pushpin_map = Malaysia#Southeast Asia#Asia , pushpin_map_caption = , coordinates = , su ...

. The institute attracts, develops and retains talented individuals towards ensuring the development and sustainability of the industry. It advocates this principle via domestic and regional alliances with industry, multilateral organisations and academia with the sole aim of raising the profile of the human capital and talent management agenda. AIF works closely with

Central Bank of Malaysia The Central Bank of Malaysia (BNM; ms, Bank Negara Malaysia) is the Malaysian central bank. Established on 26 January 1959 as the Central Bank of Malaya (''Bank Negara Tanah Melayu''), its main purpose is to issue currency, act as banker and ad ...

Securities Commission Malaysia The Securities Commission Malaysia ( ms, Suruhanjaya Sekuriti Malaysia) is a Malaysian statutory body with responsibility for development and regulation of capital markets in the country. It is located in Bukit Kiara near the National Science Ce ...

, Asian Institute of Chartered Bankers (AICB), Asian Banking School (ABS), Chartered Institute of Islamic Professionals (CIIF), Islamic Banking and Finance Institute of Malaysia (IBFIM), Securities Industry Development Corporation (SIDC) and the Malaysian Insurance Institute (MII) towards coordinating and enhancing content as well as delivery of professional qualifications in Malaysia.

History

The AIF was jointly established by Central Bank of Malaysia and

on 17 November 2008. It was set-up under the 7th Governor of Central Bank of Malaysia, Malaysia's central bank, Tan Sri Dato' Sri Dr. Ungku Zeti Akhtar binti Ungku Abdul Aziz. AIF conducts applied research and prepares case studies relating to

talent management Talent management (TM) refers to the anticipation of required human capital for an organization and the planning to meet those needs. The field has been growing in significance and gaining interest among practitioners as well as in the scholarl ...

and

human capital Human capital is a concept used by social scientists to designate personal attributes considered useful in the production process. It encompasses employee knowledge, skills, know-how, good health, and education. Human capital has a substantial ...

development issues in the financial services industry. AIF also works with the financial services industry to enhance the development, implementation and advocacy of professional standards and business ethics. AIF also acts as the secretariat for a voluntary industry-led body, called the Financial Services Professional Board (FSPB), which develops and advocates universal professional and ethical standards for the financial services industry. FSPB was launched in Malaysia by Central Bank of Malaysia and

on 24 September 2014. AIF also develops and monitors

capacity building Capacity building (or capacity development, capacity strengthening) is the improvement in an individual's or organization's facility (or capability) "to produce, perform or deploy". The terms ''capacity building'' and ''capacity development'' ha ...

initiatives created by Central Bank of Malaysia and designed to drive efficiency, effectiveness and the structural development of the industry. After the departure of Dr Raymond Madden, CEO in 2018 the unit was disbanded by Bank Negara Malaysia in June 2019.

Headquarters

The AIF headquarters is located at Plaza Sentral; off Jalan Stesen Sentral 5. The unit is now closed and no longer operates.

Research

AIF delivers applied research in relation to

development and

focused on the financial services industry either independently or through its partnerships with industry, multilateral organisations and academia. The aim of its research is to provide a rigorous analysis and suggest possible solutions to the challenges faced by industry in the areas of talent attraction, development and retention. AIF also publishes a regular journal, Asian Link, which provides different perspectives from industry leaders on issues and trends in the industry particularly in relation to

management. AIF leads several industry-wide initiatives aimed at addressing talent issues facing the industry. AIF's research is also available on The Asia-Pacific Research Exchange (ARX), a regional research hub for finance and investment management professionals to learn and engage on important industry topics and trends specific to the Asia-Pacific region. AIF has produced a series of research studies on

millennials Millennials, also known as Generation Y or Gen Y, are the Western demographic cohort following Generation X and preceding Generation Z. Researchers and popular media use the early 1980s as starting birth years and the mid-1990s to early 2000 ...

. This has included studies into debt among millennials in Malaysia as well as research into millennials in other ASEAN countries including

Indonesia Indonesia, officially the Republic of Indonesia, is a country in Southeast Asia and Oceania between the Indian and Pacific oceans. It consists of over 17,000 islands, including Sumatra, Java, Sulawesi, and parts of Borneo and New Guine ...

Thailand Thailand ( ), historically known as Siam () and officially the Kingdom of Thailand, is a country in Southeast Asia, located at the centre of the Indochinese Peninsula, spanning , with a population of almost 70 million. The country is bo ...

and

Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, borde ...

. AIF has also studied remuneration in the financial services sector and digitalisation in financial services including a 2017 study on enhancing digital trust in online banking and insurance. Another study found that crowdfunding is expected to grow as a critical source of funding for micro,

small and medium-sized enterprises Small and medium-sized enterprises (SMEs) or small and medium-sized businesses (SMBs) are businesses whose personnel and revenue numbers fall below certain limits. The abbreviation "SME" is used by international organizations such as the World Bank ...

in Malaysia. AIF examines some of the key issues and challenges facing the

human resources Human resources (HR) is the set of people who make up the workforce of an organization, business sector, industry, or economy. A narrower concept is human capital, the knowledge and skills which the individuals command. Similar terms include m ...

function and human resources professionals including high performance work practices and the need for human resources transformation in the financial services sector. AIF frequently partners with academic organisations to conduct research and university partners publish this research on their own behalf in international academic journals. In 2017, AIF published a study on the importance of Green Human Resource Management (GHRM) in the Malaysian financial services industry.

Other initiatives

AIF provides a platform for business leaders, academics and

experts to discuss some of the most pertinent issues facing businesses in Malaysia and regionally. Speakers AIF has hosted include Tan Sri Andrew Sheng, Professor Dave Ulrich, Professor

Kishore Mahbubani Kishore Mahbubani (born 24 October 1948) is a Singaporean diplomat and geopolitical consultant who served as Singapore Permanent Representative to the United Nations between 1984 and 1989, and again between 1998 and 2004, and President of the ...

, Professor John Kay, Manfred F.R. Kets de Vries and

Brett King Brett King (born Bertell W. King, Jr.; December 29, 1920 – January 14, 1999) was an American actor who performed in films and on television between 1949 and 1967. Early life and film career King attended the American Theatre Wing in New Yor ...

. AIF is often called to participate at international conferences to share its findings.

References

External links

* {{facebook, AIF.My 2008 establishments in Malaysia Financial services in Malaysia Organisations based in Kuala Lumpur Central Bank of Malaysia