Financial Sector Development Of Malaysia Essay

1685 WordsNov 30, 20157 Pages
Introduction Financial sector is a crucial player in one nation’s economy, it is because a healthy and strong economy country will definitely has a stable and healthy financial sector. There are few categories under the financial sector, it comprised of the share market, insurances, banks, investment funds and so forth. In the first part of this assignment we will discuss about the financial sector development of Malaysia throughout the year 2014. An optimal financial development able to stimulate significantly the economy growth. According to the Financial Sector Blueprint 2011-2020, first we enhance our domestic intermediaries’ institutional capacity and build the financial infrastructure of the domestic market. Secondly, as our financial sector has become less regulated which mean we having higher liberalization when we deal with financial activity in domestic market. Thus reflected that our financial sector will become more and more competitive. (BNM, 2011) The second part of this assignment we will discuss the new investment accounts under the Islamic Financial Services Act 2013 (IFSA). The overview and how is the product structuring as well as how it benefit the financial sector. Ensuring Effectiveness & Efficiency of Intermediation Recent years, financial sector is keen to promote the people to savings and investments, because this may help them to finance the current economy needs. In year 2014, the loans given out by banks have grown by 13.3%. More than 70% of the
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