Malaysia’s strong financial system even among its Asean peers and beyond, has not only impressed others but is being sought after by many, says the World Bank Group.
Country Director, South-East Asia (Brunei, Cambodia, Laos, Malaysia, Myanmar, Thailand), East Asia and Pacific Region Dr Ulrich Zachau said these countries were seeking Malaysia’s expertise to improve their financial systems.
He said Malaysia emerged stronger, among others, in terms of access to credit and the number of people with access to sophisticated financial investment tools.
“This is the result of many decades of good work and systematic development of both private and public institutions,” he told reporters after presenting a talk at the Global Emerging Markets Programme organised by the Securities Commission here today.
He stressed that Malaysia’s growing responsibilities and strong regulations in its financial governance had attracted many countries to emulate Malaysia.
“Besides Asean, countries in the Middle East were also looking to benefit from Malaysia’s financial services to strengthen their own system,” he said.
Asked about Malaysia’s Gross Domestic Product (GDP) outlook this year, Zachau said