This cooperation has already 6  become a reality thanks to the CNIL's (National Commission for Information Technology and Civil Liberties) presence in the Artificial Intelligence Task Force led by the ACPR, which will publish a report in the coming months. I hope that this cooperation will deepen further in the coming years. As a result, data are more than ever a strategic asset. In these circumstances, faced with the risks of cybercrime, it is imperative to ensure security. The digital revolution has been accompanied by the emergence of IT attacks, which have been increasingly publicised. The insurance industry, where information systems play a major operational role, has not been immune to such cyber-attacks. Insurers now need to manage and guard against this risk, which, in their case, is increased by the criticality of data (medical, personal, financial, etc.) handled and stored in their information systems. Public authorities are seeking to address these challenges and have undertaken major initiatives to raise awareness among insurers as to this new type of operational risk, as the IT systems of the insurance sector are still too vulnerable. It is primarily up to the market to design efficient security schemes compatible with the opening-up of information systems and innovation. This is a huge challenge, but it is in this spirit that the ACPR works.
The market share of Islamic banking assets of total banking industry has grown from only 6.9 percent in 2000 to 22 percent in 2011. The contribution of Islamic finance to the Malaysian economy has also been growing significantly, accounting for 2.1 percent share to the country’s GDP in 2009, as compared to only 0.3 percent in 2000. This has led to greater job creation where employment in Islamic financial industry accounts for 11 percent of total employment in the financial sector. On the international front, greater liberalisation of the Islamic financial system has seen greater foreign presence and participation in our Islamic financial system. There has also been an increasing trend in foreign participation in the domestic Islamic banking and takaful industry, as well as the Islamic capital market. Moving forward, it is envisaged that Islamic financial institutions in Malaysia will also expand beyond national boundaries to increase economic and financial linkages with other parts of the world. This rapid internationalisation of the financial system and technology advancement will demand a corresponding increase in quality skills and expertise of the industry. Talent upscaling will be even more important in the next decade, to steer the industry’s advancement in the increasingly complex and competitive financial ecosystem. A strong and dynamic workforce will be one of the important pillars for the industry to remain stable and competitive. It will also serve as a catalyst to spur innovation.