Pull together
Article Abstract:
Bank Negara, the Malaysian central bank, has informed the country's 39 finance companies that they must start merger negotiations. It is hoped that creating a small number of large finance companies will ensure that Malaysia avoids a debt crisis. Mergers among finance companies could also prompt similar moves by Malaysia's commercial banks, thus allowing them to become more competitive. Hong Leong Bank has already announced its intention to purchase Bolton Finance and merge it with Hong Leong Finance. DRB-Hicom will amalgamate Credit Corp and Eon Finance.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1998
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Banking on faith: Islamic instruments are becoming more popular
Article Abstract:
Malaysia has led the world with its innovative Islamic banking and financial mechanisms, but these have captured only a small part of the market, even there. Some critics say the differences from the conventional system are merely cosmetic, and point to the close parallels between rates of return and similar data. Bank Islam, launched in 1983 and listed in 1992, now has 63 branches nationwide, and 60% of its clients are not Muslim. However, only 3-4% of bank deposits and 1% of insurance business use Islamic mechanisms.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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Park it here: mutual funds vie for Singapore's cash hoard
Article Abstract:
Investment bankers are competing for Singapore's savings since the government has allowed institutional investors to manage part of the Central Provident Fund, a compulsory savings fund. Singaporeans save about 48% of their income, and most of that is required by law. People in Singapore can now find a full range of investment services in one place at the Invest Shop outlets established by United Overseas Bank. Unit trusts and mutual fund companies are also interested in getting the funds people have to invest.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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