MII Transformation Blueprint - the case for action
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).