KLCoE & the Ministry of Finance Organize Co-Creation Lab for Strategic Direction Realignment Exercise

Putrajaya, Malaysia, 22 February 2024 – In continuation of the ‘Stakeholders Engagement Approach’ under Phase 2 of the ‘Strategic Direction Realignment Exercise,’ KLCoE, together with the Malaysian Ministry of Finance (MOF), co-organized the ‘Co-Creation Lab’ held at MOF.

Facilitated by PEMANDU Associates, the co-creation lab was held from 21st to 22nd February 2024 and was designed as a crucial part of this initiative, which brought together representatives from over 20 key institutional stakeholders, including Malaysian government ministries and agencies, private sector entities, and IsDB Group entities and Departments. The overarching goal is to collaboratively shape medium-term strategies, develop implementation plans for the next three years, and formulate an action plan to guide KLCoE's trajectory.

A total of 83 officials participated physically and virtually in the lab over the 2-day exercise. Among the external stakeholders who participated in the lab were the Ministry of Finance (MOF), Ministry of Economy (MOE), Central Bank of Malaysia (BNM), Securities Commission, Ministry of Investment, Trade & Industry (MITI), Ministry of Science Technology & Innovation (MOSTI), Ministry of Health (MOH), Department of Islamic Development (JAKIM), Halal Development Corporation (HDC), Malaysian Digital Economy Corporation (MDEC), Malaysian External Trade Development Corporation (MATRADE), Malaysian Green Technology And Climate Change Corporation (MGTCC), Malaysian Waqf Foundation, and several universities.

As for the internal stakeholders, representatives of IsDB-Institute, Islamic Solidarity Fund for Development (ISFD), Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), Information Management & Distribution Technology (IMDT), Human Resource Management Department (HRMD), Regional Hub Indonesia, Regional Hub Bangladesh, Treasury Dept, Resilience & Climate Action Dept, Economic & Social Infrastructure Dept, Cooperation & Capacity Development Dept, as well as IsDB retirees had participated and contributed to the Co-Creation Lab.

The outcomes derived from the Co-Creation Lab are expected to be showcased at an ‘Open Day,’ which will be held at the Ministry of Finance on the 5th of March and will be attended by the Minister of Finance.