KUALA LUMPUR: To reduce credit risk and promote derivatives market, Prime Minister Datuk Seri Najib Tun Razak said Bank Negara Malaysia will lead the initiative in formulating the Netting Act to protect enforcement rights of “close-out netting” under the financial contract.
During the Budget 2014 announcement on Friday, he said the measure should reduce credit risk and promote the derivatives market, thereby reducing systemic risks in the domestic financial market as well as reduce the cost of doing business.
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