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Malaysian banks remain resilient amid challenges

The Malaysian banking sector remains highly resilient in the face of various challenges in business operations, the country’s finance minister said. The banking sector had actually even improved compared to during the Asian Financial Crisis, said Finance Minister Zafrul Tengku Abdul Aziz. Zafrul made the pronouncement after he was asked by the parliament to clarify the issue of three local banks named involved in the issue of unsecured debts by Genting Hong Kong Ltd. He emphasised that banks could approve unsecured loans based on their willingness to take risks at the internal level, using credit assessment that meets the criteria, and approval based on the internal governance process.

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