Jakarta, (20/7). Bank Negara Malaysia (BNM) will not restrict foreign investor especially Islamic banks to open up branch offices in Malaysia. as stated by the governor of BNM Zeti Akhtar Aziz at Joint High Level Conference on Islamic Finance in Jakarta, Monday(18/7). (source)
Zeti revealed that BNM will support the development of its financing system including financial liberation where BNM grants permission to foreign investors for opening its subsidiary or branch offices.
In regards to opening branch office in Malaysia BNM has its strict rule that it has to focus and open up in rural area as well, in order to have the transaction spread out to other regions other than the cities.
For Islamic financial institutions, BNM will not restricted in the number of branch offices that have to operate in Malaysia “we are not restricted t foreign banks to operate on Malaysia as long as they are Islamic financial institutions,” exclaimed Zeti.[nibra]
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