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BNM To Promote Inclusive Finance, Says Governor
Last update: 24/11/2017

From Niam Seet Wei

KUCHING, Nov 24 (Bernama) --†Bank Negara†Malaysia (BNM) will continue to promote inclusive finance†to ensure that the rakyat†gets quality financial services, said Governor, Tan Sri Muhammad Ibrahim.

Muhammad† said the financial services in Sarawak had been expanded to remote areas like Telang†Usan†and Belaga†and the network of agent banks has increased to 632 agents from 14 in 2012.

"The†efforts involving bank agents will continue so that no segment of society will be left out in enjoying financial services.

"Currently, basic banking services have been provided to almost 97 per cent of the districts and 99.7 per cent of the population in the state," he said†in his keynote address at the Sarawak Financial Carnival here today.

The†three-day carnival, starting today, themed 'Prioritise Your Financial Needs',†is held at the CityONE Exhibition Centre†here.†

Also present was Sarawak Chief Minister, Datuk Patinggi Abang Zohari Tun Abang Openg.†

He said†to increase the involvement of insurers,†the Malaysian General Insurance Association†and the Life Insurance Association of Malaysia would set up their branches in Sarawak.

"This initiative is expected to further expand the integrated insurance coverage," he said.

Muhammad said the approval rate for housing loans in Sarawak was among the highest, at 75.6 per cent.†

"Of the rate, 72 per cent is for first home purchase financing.†The financial institutions have implemented their social responsibility programmes to help people own affordable homes," he said.

-- BERNAMA

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Source: Bank Negara Malaysia

Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Bankerís Cheque, Bank Draft and Cashierís Order. Do you think this additional charge is justified?
 

 
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