Careers at Bank Negara Malaysia

By Encik Kamari Zaman Juhari

Director, Human Resource Management Department
27th November 2007 – Cairo, Egypt
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 Preview

1. Bank Negara Malaysia in a nutshell

2. “DNA” of the people in Bank Negara Malaysia

3. Choosing Bank Negara Malaysia

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 Our Mission

“Bank Negara Malaysia as a central bank,

is committed to excellence in promoting
monetary and financial system stability &
fostering a sound and progressive financial sector,
to achieve sustained economic growth
for the benefit of the nation”

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 Our Uniqueness

An organization with a strong tradition of

professional excellence
Creates an environment for economic and
financial prosperity
A knowledge-based and performance-driven
organisation

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 Our Roles
Environment Shaper Regulator & Supervisor

• Preserve the domestic and external value of the currency

• Ensure efficient mobilisation of resources and the provision
of financing to support growth & development
• Maintain stability of the financial system
• Promote the development of an effective financial system
• Promote an effective and efficient payments system
• Manage the international reserves effectively
• Act as economic and financial advisor to the Government

Advisor Driver Operator

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 Our Organisation Structure
BOARD OF DIRECTORS
PARLIAMENT &
GOVERNOR Minister of Finance

3 DEPUTY GOVERNORS

6 ASSISTANT GOVERNORS

INVESTMENT & ORGANISATIONAL

ECONOMICS SUPERVISION REGULATION
OPERATIONS SUPPORT

Total Departments: 34
Total Staff: Approx. 2500

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 Our Functions

ECONOMICS INVESTMENT ORGANISATION REGULATION SUPERVISION

SUPPORT

• ECONOMICS • INVESTMENT • LEGAL • FINANCIAL SECTOR • FINANCIAL

• INTERNATIONAL OPERATIONS & • IT SERVICES DEVT. CONGLOMERATES
• MONETARY FINANCIAL MARKET • FINANCE • FINANCIAL SUPERVISION
ASSESSMENT & • FOREIGN • HR MGMT. SURVEILLANCE • BANKING
STRATEGY EXCHANGE • HR DEVELOPMENT • PRUDENTIAL SUPERVISION
ADMINISTRATION • STRATEGIC MGMT. FINANCIAL POLICY • INSURANCE &
• CURRENCY MGMT. • STATISTICAL SVCS • CONSUMER & TAKAFUL
& OPERATIONS • RISK MGMT MARKET CONDUCT SUPERVISION
• CORPORATE • ISLAMIC BANKING • IT & DFI
SERVICES & TAKAFUL SUPERVISION
• SECURITY • DEVELOPMENT • PAYMENT
• PROPERTY & FINANCE & SYSTEMS POLICY
SERVICES ENTERPRISE

• CORPORATE COMMUNICATION • FINANCIAL INTELLIGENCE

OTHERS • INTERNAL AUDIT • SPECIAL INVESTIGATION

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Making Our Global Presence Felt …
Recognition
• Best Central Bank in the Islamic
Finance News 2006 & 2005 Best
Islamic Banks Poll
• Grade “A” for fifth consecutive year–
2007 Central Banker Report Cards by
Global Finance Magazine
• Central Banker of the Year Award by
Euromoney in 2005
• Global Central Bank Governor 2004
by The Banker magazines
• Best Central Bank Governor in Asia
in 2003 by Emerging Markets
magazine
• Technology Business Review (TBR)
recognised Bank Negara Malaysia
with the 2007 Merit Award for
Government Agencies
Building the Leaders
• ICLIF – The International Centre for Leadership in
Finance
• The 8th Annual Corporate University Awards for
Excellence & Innovation in Corporate Learning
(2006)
• Knowledge Management Centre – Special Award for
Library Transformation, Excellent Library Award
2005
Positioning Malaysia as a premier and dynamic
international Islamic financial hub
MIFC
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 Making Our Global Presence Felt …
Positioning Malaysia as a premier and dynamic international Islamic financial hub

MIFC – Malaysia as an
IFSB – The Islamic International Islamic
Financial Services Board Financial Centre
- An international-standard setting body of regulatory
and supervisory agencies that have vested interest in - An initiative that is aimed at making the country
ensuring the stability of the Islamic financial services a centre of origination, distribution and trading of
industry Islamic financial instruments

INCEIF – The International Centre for

Education in Islamic Finance
- To produce high calibre professionals for the global Islamic financial services industry through
professional certification programmes.

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 Preview

1. Bank Negara Malaysia in a nutshell

2. “DNA” of the people in Bank Negara Malaysia

3. Choosing Bank Negara Malaysia

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 Our Core Shared Values
Create a respectful and caring
environment. We consistently
ensure the best of intention, attitude,
behaviours, thoughts, words and
action.
Value and respect differences –
experience and contributions,
irrespective of personal differences,
knowledge and wisdom.
Fully aware and sensitive towards
different stakeholders’ needs, and
flexible in addressing these
differences.
Proactively seek knowledge and be
innovative in the way we think, and
in our actions to achieve our goals
Promote highest standards of professionalism and
integrity by upholding personal & corporate ethics.
Uphold the Bank’s objectives and mission by having
clear understanding and ownership of the Bank’s
vision and objectives. Continuously seek for knowledge
and experience to become the
source of reference.
INTEGRITY
Inspire confidence in others with our
knowledge and actions, and our
Respect ability to anticipate changes in the
AUTHORITATIVE
for DIVERSITY industry.
Act in the nation’s interest by
I-ACTED becoming the trusted advisor, and
without regard for profit
consideration.
EXCELLENCE COLLABORATION
United in our purpose in achieving
the Bank’s vision and objectives.

Create an environment that supports TRUST

the achievement of high
performance.
Stretch ourselves to achieve high,
but achievable goals.
Create trust by consistently being reliable, dependable
and transparent in our actions, and by giving others the
benefit of the doubt.
Trustworthy in our actions. We are entrusted to advise
the nation, and manage its resources honorably and
responsibly.
Foster collaboration and sharing of
knowledge in all that we do.
Align individual contributions with
the teams’, and ultimately the Bank’
objectives.
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Our Formula of Success …

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 Preview

1. Bank Negara Malaysia in a nutshell

2. “DNA” of the people in Bank Negara Malaysia

3. Choosing Bank Negara Malaysia

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 BNM is for you …
• Perception of the Value of Work • Freedom & Autonomy
• Challenge/Interest • Intellectually Stimulating Assignments
• A sense of Achievement • Quality of Work Relationships

• Competitive Pay Quality of Work • Supportive Environment e.g.

wellness & healthy lifestyle
• Benefits
Tangible Work/Life • Flexibility e.g. work from
• Performance Differentiated Tangible home
Tangible
Rewards
Rewards
Balance
Work/Life
• Timely Recognition Rewards Balance • Security of Income

• Physical Environment e.g.

FSRC, clubhouse
• Technology & Systems
• Information & Processes
• Safety/ Personal Security
Inspiration/ • Quality of Leadership
Enabling
Environment Future Growth/ Values
Inspiration/
• Organisation Values
Inspiration/
Opportunity Values • Reputation of Organisation
Values
Enabling • Communication Platform
• Continuous Learning & Development e.g. on the job training,
training, scholarship, e-learning, cross functional projects
• Career Advancement e.g. promotion, attachment,
secondment, job rotation
• Performance Feedback

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 Bringing Out the Best in You …
Managerial Ladder Technical Ladder
7 – 15
years Management
Management

Director
Director PrincipleAuthority
Principle Authority

DeputyDirector
Deputy Director SeniorSpecialist
Senior Specialist

Manager
Manager Specialist
Specialist

• RM2,941.00 with Degree SeniorExecutive

Senior Executive
• RM3,382.00 with Master
• RM5,882.00 with PhD

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 Our Assessment

Shortlist Assessment Approval Offer

• Relevant Academic • Preliminary Interview

Qualification • Suitability Profiling
• Min. CGPA of 3.00 or • Essay Writing
2nd Class Upper • Presentation
• Credit in Bahasa & • Final Interview
English at SPM level

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 Career Opportunities in Jabatan
Perbankan Islam & Takaful
By Ustaz Suhaimi Mohd Yusof
Manager, Islamic Banking & Takaful Department – Bank Negara Malaysia
27th November 2007 – Cairo, Egypt
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 OUTLINE

Islamic Banking and Takaful Department

History
Mission
Organisational Structure
Shariah : Main Functions / Roles

Overview of the Islamic financial system

Financial Sector Master Plan
Key Initiatives

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 HISTORY OF JPIT

Established as an Islamic Desk in 1990 – at JOPPK

Upgraded into a section in 1994 and moved to JPB
October 2000 - Islamic Banking Section in JPB merged with Takaful Section
in JPI to form JPIT
Responsible to implement FSMP initiatives and in positioning Malaysia as an
Islamic financial centre

Islamic Banking Section Takaful Section

Jabatan Pengawalan Bank Jabatan Pengawalan Insurans

Jabatan Perbankan Islam

& Takaful

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 MISSION OF JPIT

“…..to create an efficient, progressive and

comprehensive Islamic financial system that
contributes significantly to the effectiveness and
efficiency of the Malaysian financial sector….”

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 STRATEGIC DIRECTION OF JPIT

To develop the infrastructure of Islamic Banking and Takaful industry

• Formulate and implement the FSMP recommendations
• Map-up strategic direction of Islamic banking and finance in the country –
position Malaysia as Islamic financial centre
• Establish sound legal and Shariah infrastructure
• Enhance consumer education and awareness
• Provide training and technical assistance to external parties

To promote and safeguard the stability of the Islamic financial system

• Institute regulatory and prudential policies for the orderly development of
Islamic financial industry
• Monitor financial condition of Islamic regulatees to ensure compliance with
the law, regulations and guidelines
• Promote best industry practices and instill sound credit culture among
Islamic banking players and takaful operators

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 ORGANISATIONAL STRUCTURE OF JPIT

DIRECTOR

SHARIAH MIFC TI FID PPD-IB PPD-TAKAFUL

SALE ISLAMIC
BUSINESS STRATEGIC CONTRACTUAL FAMILY
CONTRACTS AFFAIRS FINANCIAL RISK
DEVELOPMENT TAKAFUL
INSTITUTIONS
FRAMEWORK
IJARAH MIFC ISLAMIC
MENA & SECRETARIAT MARKET CAPITAL
ADEQUACY GENERAL
AFRICA STRUCTURE
FRAMEWORK TAKAFUL
PARTNERSHIP COMPETATIVE FRAMEWORK
& ISLAMIC
ASIA SOLVENCY &
MARKET FINANCIAL ROR & CAPITAL
SUPPORT INTELLIGENCE MARKET LIQUIDITY ADEQUACY
CONTRACTS FRAMEWORK FRAMEWORK
EU & US
EVENTS & INTERNATIONAL
PUBLICATION INTERNATIONAL CURRENCY
CURRENCY BUSINESS
BUSINESS
STRATEGIC
PLANNING

SPECIAL
PROJECTS

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 SHARIAH : MAIN FUNCTIONS / ROLES

SHARIAH

Current

Secretariat Shariah policies Product review Advisory

New / Enhance Role

Strong Shariah Knowledge hub in Dev. sufficient pool of

framework Shariah competence scholars

Strategy

Malaysia as global reference centre of Shariah in Islamic Finance

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 ISLAMIC FINANCE

Overview
Financial Sector Master Plan
Key Initiatives

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 BACKGROUND

The genesis of Islamic banking & finance in

Malaysia was influenced by both internal and
external factors.

The external factors:

1975 - Establishment of the first Islamic
bank in Dubai and the Islamic
Development Bank (IDB) in Saudi
Arabia *

1976-85 - Rapid establishment of

Islamic financial institution around the *
world & efforts by Islamic countries to
transform their domestic banking
system into the Islamic banking
system, notably Iran & Sudan

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 BACKGROUND

The internal factors:

Success of Lembaga
Tabung Haji as an Islamic
savings institution

Calls by Malaysian
Commitment of the Muslims for the
Malaysian establishment of
Government Islamic banks

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 BACKGROUND

The Government established two steering committees at the national

level for the setting-up of Islamic banks and takaful companies

• Steering Committee on the establishment of an Islamic Bank

• Formed in 1980.
• Recommendations of the Committee gave rise to:
• Promulgation of the Islamic Banking Act 1983
• Enactment of Government Investment Act 1983
• Establishment of the first Islamic bank in July 1983

• Task Force on the establishment of an Islamic Insurance Company

• Formed in 1982
• Recommendations of the task force gave rise to:
• Enactment of the Takaful Act 1984
• Establishment of the first takaful company in 1985

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 LANDMARK SPEECH IN 1990……

“…….you may recalled Dr. Martin Luther King’s speech entitled

“I HAVE A DREAM”.
Like Martin Luther King, l TOO HAVE DREAM.
I dreamt that Malaysia will one day will have two sound financial systems,
i.e. the conventional financial system and the Islamic financial system.
And Malaysians will choose the Islamic financial system
for their financial needs…..”
Tan Sri Jaffar Hussein
Governor 1985-1994
USM, March 1990

….this vision statement led to the establishment of the

dual banking system in Malaysia…..

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FINANCIAL SECTOR MASTER PLAN

To develop a structured Islamic

banking system via the
Financial Sector Master Plan
(2001 – 2010)

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 FINANCIAL SECTOR MASTER PLAN

Sets the stage for the 10-year master plan

for Islamic banking and takaful…

Objective…

“To create an efficient, progressive

and comprehensive
Islamic financial system that
contributes significantly to the
effectiveness and efficiency of
the Malaysian financial sector
while meeting the economic needs of
the nation….”

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 FINANCIAL SECTOR MASTER PLAN

ˆ Creating an efficient banking intermediation channel

ˆ Acquiring market share of 20% of the overall banking industry by
2010 in terms of assets, financing and deposits
ˆ Positioning Malaysia as an international Islamic financial centre.

20%
15%
11%
8%

2001 2004 2007 2010

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 FSMP – Key Initiatives

Regulatory framework
development

Liberalise the Islamic banking sector

issue 3 new Islamic bank licenses to foreign Islamic financial players
100% ownership
Encourage transformation of Islamic window of IBS banks
into Islamic subsidiary
To issue 4 new takaful licenses to consortium of local & foreign players
Introduce new firewalls – CAR, LRR, provisioning etc for IBS banks
Introduce Framework of Rate of Return
Introduce GP8i to Islamic bank
MASB issued MASB-i1 for Islamic financial institutions

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 FSMP – Key Initiatives

Product and Market

Development

Issue Product Approval Guidelines

Develop Islamic banking floating mechanism – BBA floater & ijarah
Introduce generic terms for Islamic banking products
Introduce automated product approval and repository system (PARs)

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 FSMP – Key Initiatives

Legal and
Shari'ah aspects

Formed Law Review Committee to review existing laws that impede

Islamic finance development
Review Islamic Banking Act 1983 & Takaful Act 1984
Establish dedicated High Court to adjudicate cases on Islamic financial
transactions
Issue Shariah governance framework for Shariah committees in the Islamic
banks and IBS banks
Establish Shariah Advisory Council at BNM as sole reference point
Regional Centre for Arbitration Kuala Lumpur (RCAKL) as alternative dispute
resolution mechanism for Islamic finance

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 FSMP - Initiatives

Knowledge & Expertise

Introduce annual Islamic Banking and Takaful Week

Transform BIRT into IBFIM
Establish INCEIF – RM500m endowment fund
Organize International Shariah dialogue
Set-up RM200m Shariah fund for R & D, scholarships & Shariah dialogues
Islamic banking logo

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 LANDMARK SPEECH IN 2005…

Islamic finance in Malaysia has now taken on a new dimension to become

more internationally integrated. This is part of the strategy to evolve Malaysia
as an integrated international Islamic financial hub that will have a greater role
in facilitating international economic and financial flows….
Tan Sri Dr. Zeti Akhtar Aziz
Governor, October 2005

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Wallahu a`lam
&
Syukran

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JABATAN PERBANKAN ISLAM DAN TAKAFUL
 Expected deliverables of JPIT in coming years expanding with MIFC, transcending
beyond national borders

• Continued innovation and leadership in driving strategic

Global Leader
developmental initiatives
‘International business ’ • Extend policy leadership via the undertaking of high-quality
Regulator research and in-depth studies that expand the frontiers of Islamic
finance or facilitate in resolving complex policy issues in timely
manner
Advisor • Advance regulatory framework that addresses the uniqueness of
Multi-faceted
role of JPIT IBT and strikes an appropriate balance between soundness and
taking on an fostering a competitive environment of IBT
international
dimension • Make effective contributions to international regulation, standard
Driver setting and rule making on IBT, with a view of influencing the
development of regulatory agenda of strategic importance to
Malaysia
• Drive high-impact strategies and collaborate closely with key
Environment Shaper
stakeholders to strengthen and promote Malaysia’s position as
leading international Islamic financial centre
• Champion the role in increasing awareness and promoting
Ambassador understanding of general public and international financial
community on IBT through targeted and high-impact outreach
initiatives

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A more agile and capable organisation vital to sustain pre-eminence and address
challenges effectively… organisational undertakings transcend beyond the ordinary and norms

Bank’s
Strategic Malaysia as an International Islamic Financial Centre
Results

JPIT Pillars Shariah

Shariah MIFCD
MIFCD TI
TE FID
FID IB
IB PPD
PPD Takaful
Takaful PPD
PPD
Cross-cutting individual pillar strategy
JPIT’s Malaysia as • One-stop • Malaysia as Malaysia as; Malaysia as benchmark
Overarching global centre on global • Centre for leader in prudential
Themes of reference MIFC reference Islamic fund regulations for IF
Initiatives centre in • Presence of centre for raising, fund
Shariah critical mass technical management,
of world’s assistance takaful &
leading • High-impact retakaful
financial strategic • Centre of
players positioning excellence for
of IF IBF education
leadership & training

Bank’s
Other Avoiding amber status in any financial institution
Strategic
Results
Improving takaful (insurance) penetration

Financing of the economy

BNM as Leading Central Bank

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 What We Need …
Bachelor’s / Master’s Degree / Ph.D in:

ƒ Accounting ƒ Behavioral Finance

ƒ Finance
ƒ Economics
ƒ Actuarial Science
ƒ Insurance / Risk Management
ƒ Banking
ƒ Computer Science / IT
ƒ Law / Syariah Law
ƒ Decision Science
ƒ Corporate Finance
ƒ Investment Analysis
ƒ Financial Engineering/Modeling
ƒ Business Management / Commerce
ƒ Islamic Economics
ƒ Islamic Banking & Takaful
ƒ Information Management
ƒ Statistics
ƒ Mathematics
ƒ Human Resources

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 More About Us

Recruitment Section
Human Resource Management Department
11C, Bank Negara Malaysia
Jalan Dato’ Onn
50480 Kuala Lumpur

G/L : 03-2698 8044

D/L : 03-2692 5373, 03-2691 0242
Fax No. : 03-2694 2909

E-mail : recruit@bnm.gov.my
Website : www.bnm.gov.my/careers

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