Bank Negara Malaysia Talks about The Financial Sector Blueprint 2011-2020
INSURANCE interviewed Bank Negara Malaysia Governor Y.bhg Tan Sri Dato’ Sri Dr. Zeti Akhtar Aziz on the progress of the Financial Sector Blueprint since its implementation. Also included in the interview are discussions on recent M&A activities in the ins
An exclusive interview with Bank Negara Malaysia’s Governor, YBhg Tan Sri Dato’ Sri Dr Zeti Akhtar Aziz, who talks about the progress of the 10-year strategic plan that charts the future direction of the Malaysian financial services industry.
Q:Recent times have seen a great deal of M&A activity in the insurance sector. What are BNM’s expectations in the short and medium term? Is this trend likely to continue and are there other initiatives on the horizon that might act as a further impetus to M&A activity? Bank Negara Malaysia (BNM) has always encouraged financial institutions, including insurers, to consolidate as part of the effort to develop a more resilient, efficient and competitive financial sector. Mergers and acquisitions must however be driven by market forces.
Under the Financial Sector Blueprint, the strengthened role of the insurance sector is envisaged as part of initiatives to ensure the effective intermediation of funds to best serve Malaysia’s economic and financial needs in this decade.