Lim, C H, Krznar, I, Lipinsky, F, Otani, A and Wu, X (2013), “The macroprudential framework: policy responsiveness and institutional arrangements”, IMF Working Paper, WP/13/166. Maddison, A (1995), “Monitoring the world economy, 1820 – 1992”, OECD Publishing. 12  BIS central bankers’ speeches  Newman, M E J (2005), “Power laws, Pareto distributions and Zipf’s law”, Contemporary Physics, Vol. 46, No. 5, pp. 323–351. Nier, E, Osinki, J, Jacome, L and Madrid, P (2011), “Institutional models for macroprudential policy”, IMF Staff Discussion Note, SDN/11/18. North, D (1981), “Structure and change in economic history”, W.W. Norton & Company. North, D (1991), “Institutions”, The Journal of Economic Perspective, Vol. 5, No.1, pp 97–112. Olson, M (1982), “The rise and decline of nations: economic growth, stagflation and social rigidities”, Yale University Press. Olson, M (1991), “Autocracy, democracy, and prosperity”. In Strategy and choice, edited by Zeckhauser, R J. Cambridge: MIT Press, pp. 131–57. Reinhart, C and Rogoff, K, (2009), “This time is different: eight centuries of financial crises” Princeton University Press. Sachs, J (2005), “The end of poverty: How we can make it happen in our lifetime”, Penguin. Simon, H A (1971), “Designing organizations for an information-rich world” in: Martin Greenberger, “Computers, Communication, and the Public Interest”, pp 38–52, John Hopkins Press. Smith, A (1759), “The theory of moral sentiments”, London: A. Millar. Veblen, T (1899), “The theory of the leisure class: an economic study of institutions”, Macmillan and Company, New York.
Where development needs are identified through FIDE Forum’s screening process, it should be able to refer candidates to the existing director education programmes provided by ICLIF, or work with ICLIF to develop new ones to respond to an unmet need. To my mind, this clarity of role and purpose will significantly enhance the potential impact and influence of FIDE Forum and ICLIF, to the overall betterment of the industry. As members of FIDE Forum, directors have a critical role to play in setting its priorities and in driving future initiatives to ensure that FIDE Forum remains relevant and continues to add value. In this respect, members should be active in giving their views, including providing inputs to concept members, engage in propagating the common interest of the industry and enhancing the good image of the sector. Conclusion The Malaysian financial sector has taken important strides to strengthen boards, in particular through the ongoing education and increase in supply of top-quality directors. The success of ICLIF’s FIDE Programme and the industry-led initiatives by FIDE Forum in pushing frontiers in developing, sourcing and attracting board-level talent would very much depend on the collective efforts of all. It is from this perspective that the FIDE Forum should be commended for initiating this effort. I encourage the industry to continue to use FIDE Forum as a platform for promoting board-level talent management and through it, to build an effective partnership with ICLIF as the centre of excellence for directors’ education in the financial sector.