BANK Negara Malaysia plans to increase its endowment fund for the International Centre for Leadership in Finance (ICLIF) from RM500 million to RM800 million to train future leaders to lead the financial institutions in the country.
"The forces of change have been rapidly transforming and the recent years have seen a structural shift, which makes the economy changing significantly and fundamentally different. It is in our best interest then to generate a new legion of leaders to be able to meet a more challenging economy," the central bank's governor Tan Sri Dr Zeti Akhtar Aziz said.
She was speaking at a dinner talk on "Leadership for Sustainable Business Growth" in Kuala Lumpur yesterday.
"We have to become a more developed nation and to participate in the regional economic and financial integration in Asia. Asia, together with Latin America and the Middle East, are booming and according to an OECD economic survey, by 2030, 60 per cent of the world's output will come from emerging economies," she added.
Also present was newly-appointed ICLIF chief executive officer Rajeev Peshwaria, who also believes in increasing the leadership potential for a wide range of organisations.
"Part of our commitment is to boost and enhance leadership capabilities and develop world class leaders through continuous learning," Rajeev said.
He added that the global financial crisis was due to a lack of leadership and this prompted the strategy to enhance ICLIF.
"It is urgent to act now as there will be much more changes unfolding and more challenging tasks to be undertaken in the future," he said.
ICLIF was established in 2003 to provide leadership development services for senior executives from financial institutions and business corporations.
It recently saw 600 directors participating in a training scheme in a joint programme with Malaysia Deposit Insurance Corp.
By Lynn Omar
Business Times
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