The establishment of the international standard setting organizations such as the Islamic Financial Services Board (IFSB) and the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI), to formulate appropriate prudential and accounting standards that would not only facilitate the process of harmonisation but also contribute to the strengthening of the Islamic financial system. The IFSB has already formulated the prudential treatment for sukuk investment by the Islamic financial institutions as stipulated in the Capital Adequacy Standards. Malaysia's strength in the sukuk market Let me now turn to Malaysia's sukuk market. Significant progress has been achieved in the development of the Malaysian sukuk market. In 2007, Malaysia accounted for about twothirds of the global sukuk outstanding, amounting to about USD47 billion. Malaysia not only represents the largest sukuk market in terms of outstanding size, but also in terms of number of issuance. In developing the sukuk market, Malaysia provides a total solution for sukuk activities by providing a complete sukuk issuance and trading platform, that is supported by four elements: a wide range of Islamic instruments, strong legal and regulatory infrastructure, sound Shariah governance framework and the talent supply. These elements are also further strengthened by Malaysia's comprehensive Islamic financial system with all the key components of the financial system comprising the Islamic banking, takaful, Islamic money and capital markets that are now at an advanced stage of development.
Aldous Huxley who wrote the "Brave New World" in the 1930s believed technology and automation would put workers on the fast track for better pay, better hours, better relationships with bosses, and a better workplace environment. (I will let you be the judge of how far that is true today). Science-fiction writer and futurist, Sir Arthur Clarke, predicted in the 1960s, "a world in which we can be in instant contact with each other, wherever we may be, and that it will be possible for a man to conduct his business from Tahiti or Bali just as well as he could from London." This is certainly true today. In the 1980s, many predicted jobs that would be extinct and replaced by robots, such as cashiers, bank tellers, receptionists, servers, floor workers. Today, automation has changed these roles for sure, but it may interest you to know that only one occupation appears to have been fully eliminated in the last 60 years – and that is the elevator operator! 1/5  BIS - Central bankers' speeches  Roy Amara, American scientist and researcher, in 1982 predicted that the greatest changes to come in the workplace would be cultural. He said, "the workplace would be more cooperative than adversarial, and workers will want intellectual and psychological fulfilment, not just financial reward". Certainly, it could be said of hiring today that being part of a team that creates a positive impact on society and encourages emotional and intellectual growth, has strong appeal for job seekers.