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Banking and insurance
The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies.
Malaysia has a well-established insurance industry, with some players in the market for over a century. Malaysia's traditional insurance players are supplemented by a world-leading takaful industry, which supplements the conventional insurance ...
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Malaysia has sizable crude oil and natural gas reserves. In 1974, the Malaysian government established Petroliam Nasional Bhd (Petronas) as the national oil company and the owner and steward of the country's hydrocarbon deposits. Petronas has since ...
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