MII Trans­for­ma­tion Blue­print - the case for ac­tion

Insurance - - COVER STORY -

In July 2012, MII has clocked forty-four years of ex­is­tence. The Gov­er­nor of Bank Ne­gara Malaysia (BNM), Y.Bhg Tan Sri Dato' Sri Dr. Zeti Akhtar Aziz, of­fi­cially launched the Malaysian Fi­nan­cial Ser­vices Sec­tor Blue­print 2011-2020 in Novem­ber 2011. Among other ob­jec­tives, the BNM Blue­print em­pha­sises on the in­ten­si­fi­ca­tion of hu­man cap­i­tal devel­op­ment, in­clud­ing that of the Malaysian in­surance in­dus­try. In re­spond­ing to the call, MII de­cided to con­duct a strate­gic re­view of its over­all gov­er­nance and qual­i­fi­ca­tions frame­work with the view to strengthen its po­si­tion and an­chor an unas­sail­able lead for its qual­i­fi­ca­tions in the global arena.

MII Board of Direc­tors chaired by En­cik Hashim Harun, the Pres­i­dent and CEO of Malaysian Rein­sur­ance Ber­had, ap­proved the pro­posal by MII man­age­ment to en­gage the ser­vices of a con­sul­tant who has ex­ten­sive back­ground in the con­duct of pro­fes­sional bod­ies and higher learn­ing in­sti­tu­tions, with hand­son ex­pe­ri­ence in or­gan­i­sa­tional trans­for­ma­tion and busi­ness process re-en­gi­neer­ing.

MII short-listed Pro­fes­sor Datuk Razali Mah­far who holds avi­a­tion en­gi­neer­ing and in­ter­na­tional mar­ket­ing pro­fes­sional and aca­demic qual­i­fi­ca­tions from the United King­dom. He has held se­nior lead­er­ship po­si­tions in key multi­na­tion­als (MNC), government-linked com­pa­nies (GLC), pub­lic re­search in­sti­tu­tions (PRI) and pri­vate higher learn­ing in­sti­tu­tions, and has led ma­jor trans­for­ma­tion and busi­ness process re-en­gi­neer­ing projects. He is a Fel­low and Mem­ber of five UK and three US pro­fes­sional bod­ies re­spec­tively in the fields of en­gi­neer­ing, mar­ket­ing, lead­er­ship and man­age­ment, and is a Past Pres­i­dent of an en­gi­neer­ing pro­fes­sional body.

Coin­ci­dently, Prof. Datuk Razali was among the pioneer mem­bers, in the ca­pac­ity of Chief Op­er­a­tions Of­fi­cer, re­spon­si­ble to set up INCEIF, the Global Univer­sity for Is­lamic Fi­nance, spon­sored by BNM in 2006. He was also re­spon­si­ble to draft the INCEIF con­sti­tu­tion as re­quired by the PHEI Act and was later in­volved in the set­ting up of the Is­lamic fi­nance pro­fes­sional body; the As­so­ci­a­tion of Char­tered Is­lamic Fi­nance Pro­fes­sion­als (ACIFP).

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