Can Sarawak have its currency?
KUCHING: The notion of Sarawak introducing its own currency has raised questions about its economic viability, with an expert suggesting that such a move must be supported by robust fiscal and monetary policies. Economist Datuk Dr Madeline Berma has highlighted that the primary objective behind introducing a new currency in Sarawak is to simplify financial […]
1MDB’s US$700 mln went into Jho Low’s company in 2009, BNM only knew in 2015: Zeti
KUALA LUMPUR: The High Court here today was told that only after nearly seven years, Bank Negara Malaysia (BNM) found that US$700 million belonging to 1Malaysia Development Berhad (1MDB) went into the wrong entity, namely Good Star Ltd, a company owned by fugitive businessman Low Taek Jho or Jho Low. Former Bank Negara Malaysia (BNM) […]
Ridiculous and preposterous, Jho Low never cooked pasta for my family: Zeti
KUALA LUMPUR: Former Bank Negara Malaysia (BNM) Governor Tan Sri Dr Zeti Akhtar Aziz today told the High Court here that fugitive businessman Low Taek Jho or Jho Low never visited her and cooked pasta for her family at her residence in Bukit Tunku, here. The 76-year-old witness said this when asked by Datuk Seri […]
BNM to keep OPR at 3 pct until year-end
KUALA LUMPUR: Research firms expects Bank Negara Malaysia (BNM) to keep the Overnight Policy Rate (OPR) unchanged at 3.0 per cent for the rest of 2023. Hong Leong Investment Bank (HLIB) and CGS-CIMB Securities Sdn Bhd said the outlook was in view of the anticipation for growth and inflation to moderate in the second half […]
Bank Mualamat committed to providing financial access to B40 groups
KUALA LUMPUR: There is no doubt that the bottom 40 (B40) group and the asnaf community are finding it difficult to get a loan from any banking institution in Malaysia, making it challenging to find start-up capital and continue with their business survival post-pandemic. Recognising the difficulties of the people, Bank Negara Malaysia (BNM) initiated the […]
Stress tests foster confidence in banks
KUCHING: Stress tests serve as valuable tools for banks to evaluate their financial health and resilience in the face of adverse economic conditions, acting as early warning indicators.Universiti Malaysia Sarawak (UNIMAS) economist Jerome Kueh said it may enhance investors’ and customers’ confidence in the banking sector. He identified three factors contributing to this outcome. First, […]
Mobile banks and agents in rural areas
KUCHING: The Ministry of Finance and Bank Negara Malaysia (BNM) are aware of the need for access to finance in rural areas. According to a news report from the Sarawak Public Communication Unit (UKAS), its minister Datuk Seri Anwar Ibrahim said, the decision of a financial institution to open a bank branch or place a […]
EPF piggy bank: Balancing risk and aid
KUCHING: The Employees Provident Fund (EPF) contributors could use Account 2 as collateral for loans from banks in order to assist those facing financial difficulties, including debt, according to an economist. Speaking to New Sarawak Tribune, I-CATS University College economist Shazali Abu Mansor said for that purpose, the government would need to discuss with the […]
Move to identify best model for living wage
KUALA LUMPUR: The government is studying a Bank Negara Malaysia (BNM) proposal on the implementation of living wage in the country, the Dewan Rakyat was told today. Human Resources Minister V. Sivakumar said the BNM 2017 Annual Report had proposed a living wage rate of RM2,700 for an unmarried adult in urban areas, RM4,500 […]
