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Malaysia Report
Marcopolis presents the Malaysia Report focused on the investments, doing business, economy and other topics featuring interviews with key personalities. The sectors under review in this issue are aerospace, aviation sector, tourism, healthcare sector, education sector and many more.
Videos4.23.2015
Banking Sector in Malaysia: 9-10% Growth
- Published: April 23, 2015
Dr. Majid obtained a B.Sc (Econ) and his Ph.D in International Relations from the London School of Economic and Political Science (LSE). He is Chair of ASEAN-BAC, Chairman of ASEAN-BAC Malaysia and Chairman of Bank Muamalat Malaysia, an Islamic financial institution.
Tan Sri Dr. Mohd Munir Abdul Majid, Chairman of Bank Muamalat and Chairman of ASEAN-BAC Malaysia talks about the banking sector and the economy.
He says, "The banking sector is Malaysia is very stable and growing steadily. We expect growth 9-10% this year. The regulatory framework is very good: the Islamic Financial Services and Financial Services Acts of 2013 were passed last year, taking into account all that has happened in the West in 2008, so the regulatory system in respect of risk management and capital adequacy are very strong."
"However, the environment apart from the regulatory [functions] in the underlying economy environment is stable (interest rates are relatively low and the last increase was in July 2014). There was a lot of expectation about another increase, but it’s not likely that there will be an increase because there are still problems in Europe and the US. Whether or not the US increases rate will be critical; Japan, on the other hand, is easing up," he said.
