Financial Institution In Malaysia Case Study
THE HISTORY AND DEVELOPMENT OF FINANCIL INSTITUTION IN MALAYSIA
Introduction
Financial system in Malaysia is structure in to two categories that is Financial Institutions and Financial Market. Under financial institution, there are Banking system and Non-Bank Financial Intermediaries. For Financial Market, it comprise with four major markets that is Money & Foreign Exchange Market, Capital Market, Derivatives Market, and Offshore Market.
1.0 Bank Negara Malaysia (BNM) or Central Bank
Bank Negara Malaysia (BNM) was established on 24 January 1959, under the Central Bank Act 1958 (CBA 1959), that is the legal tools for establishing the country’s central bank. BNM is governed by the Central Bank of Malaysia Act 2009 (CBMA 2009). BNM act as the
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On that period also can see the emergence of more unit trust management companies that were subsidiary of financial institution. The fastest growth can be see between the periods from 1991 to 1999 when the number of new management companies established are increase. On March 1, 1993, the Securities Commission was established to centralise the unit trust industry regulation. The period from 2000 to current year, in 2005, the unit trust face the strong growth with the highest net asset value of managed funds on that time. On the third quarter of 2006, the number of offshore funds and overseas investment increase proportionately and be the evidence of the continued interest by the investing public for the good overseas market.
The example of unit trust management company in Malaysia is Affin fund Management Berhad, Alliance Investment Management Berhad, Amanah Mutual Berhad, Amanah Saham Kedah Berhadd, Amanah Saham Nasional Berhad , Amanah Saham Sarawak Berhad, and Amanah Raya Unit Trust Management Sdn Bhd.
Conclusion
As the conclusion, every financial institution have their own history and development over the years not only in banking system but also in non-bank financial intermediaries. All the financial institution have their own function to develop and expend the economy of Malaysia. They will be the tools for the consumer or client to involve in economy
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