The Government will issue up to nine new banking and insurance licences until 2011 and allow foreigners to own up to 70% equity in the country’s Islamic banks, investment banks and insurance companies.
Prime Minister Datuk Seri Najib Tun Razak said the liberalisation package, comprising six thrusts, was aimed at enhancing Malaysia’s linkages with international economie
Najib, also the Finance Minister, said there would be flexibility in allowing for an increase in foreign equity ownership limits of investment banks, Islamic banks, insurance companies and takaful operators from 49% to 70%.
just wondering whether izzit a good move or not, imagine ur bank is control by foreigner...indirectly means that ur money is control by foreigner, will that help economy? hmmm, maybe our CLEVER PM hope to bring more investment in Malaysia, but izzit a Smart Move ?????
By SoonSing ^^
1 comment:
in the era of globalization, whether it's a smart move anot, this step has to be taken sooner or later.
continue holding a tongkat in building our country's economy will not help in the long run. this has been proven frm the past 50yrs' experience.
previously many foreign investors rather invested in other countries tat r less developed than m'sia was bcos of the tongkat policy malaysia has.
by setting up the new policy, this wil encourage foreigners to invest in malaysia. bear in mind tat, ALLOWING them to own 70% DOESNT mean tat they wil own 70% jz like tat.
so, i would say tat it's a correct move.
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