Recognizing these trends, Bank Negara Malaysia launched the International Center for Leadership in Finance (ICLIF) in 2003 to accelerate the development of top management talent for the corporate and financial sector within the Asian region. At the management trainee level, the Bank has initiated the Financial Sector Talent Enrichment Programme or in short FSTEP, a joint collaborative effort undertaken with the industry and training institutes aimed at boosting the supply of well-trained and competent personnel for the financial services industry. This is complemented by the International Centre for Education in Islamic Finance (INCEIF) which was established for the purpose of meeting the increased demands of Islamic finance professionals as well as conducting research and consultancy in Islamic finance. I would very much like to encourage you to take the opportunity of participating in some of these programs. Finally, no less important an area for consideration in re-engineering financial sector development, is consumer education and protection. Today, we experience growing consumerism as well as changing consumer preferences and expectations in tandem with increased education levels and growing personal wealth. These and other developments collectively reinforce the need for greater financial literacy to ensure the efficient functioning of the financial system. An important aspect of Bank Negara Malaysia's regulatory strategy and approach therefore, has been to ensure that the continued growth of the financial sector is underpinned by fair market practices and conduct.
Overall, the evidence that trade has depressed the 10  wages of unskilled workers in the developed world is mixed at best . Instead, most economists have argued that the more important factor behind rising wage inequality in the United States has been the “skill-biased” nature of technical progress – the fact that computer technology seems to have added more to the productivity of high-skilled than lower skilled employees. One recent and well-publicised IMF study made the same point (Chapter 3, World Economic Outlook, April 2017) but this is only the latest in a very extensive and long-lived literature that has reached broadly similar conclusions. 8  Note that this could reflect the effect of a period of unemployment – so-called “scarring” – and needn’t say anything about the impact of trade on wages. 9 Krugman (1995). 10 Harrison et al. (2011) provide a useful survey; Haskell and Slaughter (2003) provide a careful anaylsis designed to distinguish the effects on wage inequality of both technology and trade and find only weak effects of the latter; Stone and Cavazos Capeda (2012) find some effect of imports on wage differentials but, allowing for their impact on productivity, positive effects across the distribution. 10  All speeches are available online at www.bankofengland.co.uk/speeches  10  I can’t possibly do any real justice to this work. Nor should I over-state its results. None of it attributes everything to the nature of recent technical progress or dismisses entirely the impact of trade on inequality.