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

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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.

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