KUALA LUMPUR: Given that locally incorporated foreign banks (LIFBs) need to have a critical mass to be commercially viable, they are now allowed to open branches in non-urban areas, said Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz.
“They need to submit a proposal and we will consider it. It has to be a viable number for them to commercially open such branches,” she told reporters after delivering the keynote address at the 10th Malaysian Banking, Finance & Insurance Summit here yesterday.
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