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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.
Insurers have been operating in the Malaysian market for more than a century. Malaysia's conventional insurance companies are complemented by a takaful industry that is recognised globally. This industry offers a Shariah-compliant alternative to the ...
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The oil and gas sector fuels the economies of a number of countries in the ASEAN region, with the main players being Indonesia and Malaysia. Thailand and Vietnam are emerging as critical players, with growing exploration efforts and considerable ...
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Malaysia has one of Southeast Asia's most advanced pharmaceutical and healthcare sectors. Malaysia's healthcare system is divided into two segments: a taxpayer-funded and government-run system and a private sector. The public system, managed by the ...
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Malaysia has substantial reserves of crude oil and natural gas. Petroliam Nasional Bhd (Petronas) was established by the Malaysian government in 1974 as the national oil company and owner and steward of the country's hydrocarbon deposits. Petronas ...
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With over 660mn people, and a combined economy that represents the fifth largest in the world, the 10 countries forming the Association of Southeast Asian Nations (ASEAN) region have been relying on fossil fuels to power their fast growth. The ASEAN ...
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Commercial banks have a dominating presence in the Malaysian banking sector. They accounted for 74.7% of the total banking assets as of June 2023, followed by Islamic banks at 24.1%. The remaining percentage was held by merchant banks. The Malaysian ...
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