New accounting standard a game changer for banks, says RAM

After the doldrums, the sector is expected to pick up momentum in the second half of next year with a recovery in, among others, oil prices as well as a clear direction on US policies especially on its interest rates

KUALA LUMPUR: RAM Ratings views the Malaysian Financial Reporting Standard (MFRS) 9 Financial Instruments: Recognition and Measurement -- as a game changer for banks when it takes effect on Jan 1, 2018 .