‘Finance industry will hurt’

Money matters: Nazir speaking in the Cybertorium at Menara Star. The CIMB group chairman warns of a ‘painful financial climate’ which may take years to recover from.

PETALING JAYA: The financial industry is facing a perfect storm as the industry is revolving on a slower economic growth coupled with countries being mired in high debt levels, said CIMB group chairman Datuk Seri Nazir Tun Razak.

“The world has high debts and it was going to take some time and some pain to get through.