LAST_UPDATEFri, 20 Jul 2018 10pm

BNM To Promote Inclusive Finance, Says Governor

Tan Sri Muhammad Ibrahim.Tan Sri Muhammad Ibrahim.

KUCHING – Bank Negara Malaysia (BNM) will continue to promote inclusive finance to ensure that the rakyat gets quality financial services, said Governor, Tan Sri Muhammad Ibrahim.

Muhammad  said the financial services in Sarawak had been expanded to remote areas like Telang Usan and Belaga and the network of agent banks has increased to 632 agents from 14 in 2012.

“The efforts involving bank agents will continue so that no segment of society will be left out in enjoying financial services.

"Currently, basic banking services have been provided to almost 97 per cent of the districts and 99.7 per cent of the population in the state,” he said in his keynote address at the Sarawak Financial Carnival here today.

The three-day carnival, starting today, themed 'Prioritise Your Financial Needs', is held at the CityONE Exhibition Centre here. 

Also present was Sarawak Chief Minister, Datuk Patinggi Abang Zohari Tun Abang Openg. 

He said to increase the involvement of insurers, the Malaysian General Insurance Association and the Life Insurance Association of Malaysia would set up their branches in Sarawak.

"This initiative is expected to further expand the integrated insurance coverage," he said.

Muhammad said the approval rate for housing loans in Sarawak was among the highest, at 75.6 per cent. 

"Of the rate, 72 per cent is for first home purchase financing. The financial institutions have implemented their social responsibility programmes to help people own affordable homes," he said.