MALAYSIA - BANKING - Financial Sector Blueprint 2011 - 2020

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MALAYSIA - BANKING - Press Statement : Financial Sector Blueprint 2011 - 2020

Bank Negara Malaysia today released the new Financial Sector Blueprint. Themed "Strengthening Our Future", the Blueprint charts the future direction of the financial system over the next ten years.

As the country transitions towards a high value-added and high-income economy, the role of the financial sector is envisioned to grow beyond its role as an enabler of growth to be a key driver and catalyst of economic growth. Towards this end, the aim is for the financial sector to be more competitive, dynamic, inclusive, diversified and integrated, with the ability to offer world class financial services, in terms of breadth, depth and quality to serve the needs of Malaysia. The growth of the financial system should be ultimately anchored to the growth in the real sector. Based on the rate of growth of the economy projected for the next decade, the financial sector is envisaged to expand to six times of GDP in 2020 from 4.3 times of GDP currently. Meanwhile, the contribution of the financial services sector to nominal GDP is expected to grow from 8.6% of nominal GDP to between 10 and 12% by 2020.   (source)

MALAYSIA - BANKING - Governor\'s Speech at the Launch of the Financial Sector Blueprint at Sasana Kijang : \"Strengthening Our Future\"

Speaker : Governor Dr. Zeti Akhtar Aziz Venue : Sasana Kijang, Kuala Lumpur Date : 21 December 2011 Language : English

It is my great honour to welcome you to Sasana Kijang for the launch of Bank Negara Malaysia's Financial Sector Blueprint. On behalf of Bank Negara Malaysia and the financial services industry, Yang Amat Berhormat Dato' Sri, I wish to express our appreciation to you for your presence here this afternoon to launch the Financial Sector Blueprint. This Blueprint marks a new phase in the development of the financial system. It focuses on new areas that will strengthen the competitiveness and efficiency of the financial sector and its potential role in facilitating our ongoing economic transformation and greater regional economic and financial integration and thus to enhance Malaysia's long term economic growth potential.  (source)

MALAYSIA - BANKING - Malaysia unveils plan to boost bank sector

channelnewsasia.com - KUALA LUMPUR - Malaysian Prime Minister Najib Razak Wednesday unveiled fresh plans to liberalise the country's financial sector in a bid to develop it as an international Islamic hub.

"The financial system will have a key role in spurring new areas of growth, and facilitating our economic transformation," he said in remarks contained in a report by Bank Negara.

Under the 10-year programme, the sector is expected to expand 11 percent annually between 2011 to 2020 and add another 56,000 jobs to the current 144,000.  (source)

PUBLICATON - Islamic Finance Asia - Country Supplement Indonesia : Broad Horizon

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REGULATIONS - BI preparing blueprint for sharia banking

Jakarta (ANTARA News) - Bank Indonesia (the central bank/BI) is preparing a blueprint for the development of sharia banks in the country to boost them to grow at a fast and sustainable pace, its deputy governor said.

The blueprint would carry a number of long-term policies to develop sharia banks in the world`s biggest Muslim country from 2011 to 2015, Halim Alamsyah said at a seminar on the sharia banking industry here on Wednesday.