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Case Study: Bank Negara Tanah Melayu

Decent Essays

NEGARA MALAYSIA (BNM)
Bank Negara Tanah Melayu was set up in January 1959. One of its main responsibilities is to supervise all activities of commercial banks in Malaysia through the Banking Ordinance 1958 which was super-ceded by the Banking Act 1973. With the formation of Malaysia on 16th September 1963, Bank Negara Tanah Melayu came to be known as Bank Negara Malaysia (Central Bank of Malaysia). Bank Negara Malaysia is a statutory body which started operations on 26 January 1959. It was governed by the Central Bank of Malaysia Act 2009. Its headquarters is located in Kuala Lumpur, the federal capital of Malaysia. Bank Negara had previously maintained branches in each of the state capitals. Most of them were closed in the 1990s when retail banks began taking over most of the counter services. There are still branches maintained in Penang, Johor Bahru, Kota Kinabalu, Kuching, …show more content…

The unit trust industry in Malaysia has therefore a history of more than four decades.
In the early 1950s until 1970s the unit trust industry are growth slow in the sales of units and lack of public interest in the new investment product. There are only five unit trust management companies was establish, with total 18 funs introduced over that period. During that time, several parties such as Registrar of Companies, The Public Trustee of Malaysia, Bank Negara Malaysia and The Ministry Of Domestic Trade and Consumer Affairs was regulated the unit trust industry.
The 1980s marked a significant development in the history of the industry when the Amanah Saham Nasional (ASN) was launched by the National Capital Berhad (PNB) in 1981. Although there were only 11 funds were launched in this period, the number of units subscribed by the public increase to an unprecedented level because of the overwhelming response to

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