Banking

imported 2024-03-17 17:43:07

Banking Sector in Malaysia: 9-10% Growth

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. Assessment of the banking sector and economy by Tan Sri Dr. Mohd Munir Abdul Majid, Chairman of Bank Muamalat and Chairman of ASEAN-BAC Malaysia.

Tan Sri Dr. Mohd Munir Abdul Majid: ASEAN and Islamic Banking

With free trade, there will be the suppliers across the value chain to the finished product, which would be based in some ASEAN country chosen by the investors. ASEAN population is already the third largest in the world with over 600 million after China and India. Also, the larger ASEAN economy is worth US$ 2.4 trillion and is an upwardly mobile consumer market.

Top Banks in Malaysia

The list ranks Malaysia’s top banks as found by MarcoPolis using the bank’s total assets. The following list ranks Malaysia’s top financial institutions by assets. The largest bank in Malaysia is Maybank, followed by CIMB Group and Public bank. According to the Central Bank of Malaysia, the total assets in the banking system stood at 630 billion USD as of 2015. The first 3 banks in Malaysia represents almost 58% of the total assets in the banking system.

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