Engagement with the Local Communities in KedahRef No : 01/18/09 22 Jan 2018 Embargo : For immediate release
Bank Negara Malaysia held several dialogue sessions with the local businesses, the financial community and students in Alor Setar on 18 and 19 January 2018. These dialogue sessions were chaired by Governor Muhammad bin Ibrahim, and are the fourth in a series of the Bank’s nationwide engagement following sessions in Kuala Lumpur, Kota Kinabalu and Kuching.
Through the dialogue sessions, the state, business and financial communities shared the challenges that they faced and insights on developments affecting the northern region, including the manufacturing sector. This includes access to financing for small and medium enterprises (SMEs), availability of basic banking services via ATM and agent banking, managing currency fluctuations, corporate social responsibility and illegal financial schemes.
On the latter, Bank Negara Malaysia emphasised the need to be prudent and cautious of investment schemes promising exceptionally high returns. Consumers are encouraged to refer to the Financial Consumers Alert list which consists of entities that are not regulated by Malaysian authorities.
The communities also welcomed the financial sector’s greater commitment to contribute to the local economy. This includes the corporate social responsibility (CSR) initiative by Financial Industry Collective Industry (FINCO) which aims to improve financial literacy, English proficiency and financial management capabilities of the local community.
Bank Negara Malaysia also held an engagement session with the university students to discuss their future career aspirations, contemporary issues and Malaysia’s future under the ambit of Transformasi Nasional 2050.
The next dialogue will be held in the east coast region in the second half of 2018 in conjunction with the fifth Karnival Kewangan. These engagements are crucial stepping stones to facilitate greater financial inclusion and more balanced economic growth in the region.
Bank Negara Malaysia
22 Jan 2018
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