New banking licences being mulled


  • Nation
  • Thursday, 12 Apr 2007

NEW banking licences may be considered next year, said Finance Ministry parliamentary secretary Datuk Seri Dr Hilmi Yahaya. 

However, he added, any changes would have to be studied and made in accordance with Bank Negara’s 10-year plan. 

Banking institutions would be increased only if there is a need to do so, he told Lau Yeng Peng (BN – Puchong). 

“There were initially 54 banks. They were then merged into 10 banks, and then eight,” he said. 

He said new licences had been issued for three foreign Islamic banks and local banks had also set up Islamic banking subsidiaries. 

To a query by Datuk Markiman Kobiran (BN – Hulu Langat) on the name change from Bumiputra-Commerce Bank Bhd (BCBB) to CIMB Bank, Dr Hilmi said it was made at the discretion of the board of directors and shareholders.  

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Next In Nation

OKU Sentral drive-through PPV to boost capacity to 40, 000 shots in five months
High spikes in registration as vaccinations revved up
INTERACTIVE: Letting Go - How Parents of Young Autistic Adults are Teaching Independence
Govt’s intention in line with King’s call, says Azmin
Johor and Penang ready to reconvene when possible
‘Virtual meet not as fruitful’
Plans in the works for walk-ins
Eating when and where they can
I miss all the footie fans, laments eatery owner
Trader claims trial to beating up pregnant wife

Stories You'll Enjoy


Vouchers