MALAYSIA must continue strengthening its economic resilience and safeguarding monetary and financial stability to ensure shared prosperity, former Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz said today.

Speaking at the launch of the Tun Ismail Ali Centre of Excellence (TIACOE) at the Asia School of Business, Zeti warned that “major policy shifts in advanced economies, as well as rapid advancements in technology, digitalisation and artificial intelligence, have brought forth significant challenges that must be addressed.”

“In this highly dynamic and ever-evolving environment, it is essential that our local understanding and capacity for innovation in the monetary and financial economy continue to grow and be applied,” she said.

Zeti, who serves as Founding Chair and Co-Chair of the Board of Governors of the Asia School of Business, said the establishment of TIACOE aimed to honour the legacy of Bank Negara’s first governor, Tun Ismail Ali, while advancing academic and professional knowledge in monetary and financial economics, particularly within the region.

“In this era of immense uncertainty and instability, we have witnessed numerous disruptions to progress — from climate crises and the outbreak of major wars to the global pandemic — all of which have significantly impacted the economy,” she noted.

TIACOE, she explained, has three core objectives as part of its mandate: to advance research in monetary and financial economics; to strengthen the capacity of local higher education institutions in these fields; and to expand outreach by deepening engagement with local academics, the private sector, students and the wider public.