The Asian Institute of Chartered Bankers (AICB), in collaboration with the Islamic Banking and Finance Institute Malaysia (IBFIM) and The Malaysian Insurance Institute (MII), launched the first Future Skills Framework (FSF) for the Malaysian financial sector on 22 July 2024 at Sasana Kijang, Bank Negara Malaysia.

An industry initiative led by AICB, the #FSF aims to promote skills mastery, support continuous learning, enhance talent mobility, and facilitate the transformation of the Malaysian workforce, as a pivotal component of Bank Negara Malaysia's Financial Sector Blueprint 2022–2026, which emphasises the importance of nurturing future-fit talents to increase the financial sector’s competitiveness.

The FSF also seeks to align educational training with the specific requirements of the financial sector, bridging the gap between employer demands and workforce skills. It identifies 15 Power (fundamental) skills, which are relevant for all job roles, complementing 142 Prime (technical) skills. Financial institutions can customise the FSF to meet their unique requirements, using it as a guide for further validation and strategic planning in enhancing talent development.

A wide spectrum of stakeholders, including financial sector employees, employers, students, professional bodies, training providers, and government agencies, stand to benefit from the FSF, which signifies a concerted initiative to foster a more future-ready workforce, raise the bar on professional excellence and advance the growth of the financial industry in Malaysia.

YB Tuan Steven Sim Chee Keong, Minister of Human Resources, Malaysia, and Datuk Abdul Rasheed Ghaffour, Governor of Bank Negara Malaysia, delivered the special address and keynote address, respectively, at the FSF launch event, which was attended by over 400 stakeholders from the financial sector and relevant regulatory bodies and government agencies.

In addition to a panel discussion on “Reimagining the Future of Work”, a press conference was held on the sidelines of the FSF launch event to provide an opportunity for the media to gain a better understanding of this industry-led national initiative. It featured the following esteemed representatives:

• Edward Ling, Chief Executive, Asian Institute of Chartered Bankers — #FSF Project Steering Committee Chairman
• Yusry Yusoff, Chief Executive Officer, Islamic Banking and Finance Institute Malaysia — #FSF Project Steering Committee member
• Paul Low, Chief Executive Officer, The Malaysian Insurance Institute — #FSF Project Steering Committee member
• Datuk (Dr) Nora Manaf, CB, Chairman, Human Resource Networking Group; Group Chief Human Capital Officer, Maybank — #FSF Project Champion.

Find out more about the FSF here.

Future Skills Framework (FSF) Launch, 22 July 2024