Najib lauds BNM’s six measures

‘RIGHT DIRECTION’: In accordance with National Monetary Policy, says PM

BANK Negara Malaysia’s (BNM) measures to broaden the onshore foreign exchange market will add optimism to the market and strengthen the ringgit.

Prime Minister Datuk Seri Najib Razak said as a financial institution, BNM was imposing the right measures to strengthen the value of the ringgit in accordance with the National Monetary Policy.

He said the six measures, introduced last week by BNM, were a step in the right direction.

“The six measures will bring optimism to the market and provide measures that will strengthen the ringgit’s value,” said Najib after launching Iskandar Malaysia’s 10th anniversary celebration at the EduCity Sports Complex here yesterday.

Najib said issues related to the value of the ringgit were caused by external and internal factors, and the government was taking measures to control internal factors.

“They are control measures on the internal factors that we can take to set our currency exchange rate in our favour,” he said.

In his speech during the launch, Najib announced a RM2 million grant under Khazanah Nasional Bhd for small traders.

“I visited Kilang Bateri on Monday and was impressed with the creative initiative taken by the private sector to provide assistance to small traders.

“They have done well without the assistance of the government. We acknowledge that these small traders are the pulse of the nation and we want to help them.”

Kilang Bateri is a lifestyle mall in Jalan Tampoi, Johor Baru, which provides business opportunities for 200 traders of home-grown premium products.

Najib also announced a Federal Government allocation of RM5 million for the construction of a mosque in Taman Bayu Damai, Pengerang. Additional reporting by Halim Said

The six measures will bring optimism to the market and provide specific measures that will strengthen the ringgit’s value. Datuk Seri Najib Razak Prime minister