Friday, 13 September 2013

Malaysia still tops in access to credit

Malaysia still tops in access to credit

KUALA LUMPUR: The World Bank has given Malaysia No. 1 rating in terms of access to financing for three consecutive years, Datuk Seri Najib Tun Razak said.

Congratulating Bank Negara on the achievement, the Prime Minister said although Malaysia had achieved significant progress in terms of access to credit and financial literacy, efforts needed to be intensified.
“Our vision is to equip all Malaysians with essential understanding of sound financial management, and provide them with means and opportunities to improve their financial position,” he said when closing the Alliance for Financial Inclusion 5th Annual Global Policy Forum at Bank Negara’s Sasana Kijang building here yesterday.

Najib, who is the Finance Minister, said promoting sound financial management was crucial because there were those who tended to live beyond their means.

“Having taken the necessary steps to strengthen our economy after the 1997 financial crisis, we were that much prepared for the 2007 (global financial crisis),” Najib said.

He said the 10th Malaysia Plan placed priority on the 2.4 million vulnerable households in Malaysia with particular focus on women, youth and indigenous communities.

“Women are in fact doing much better than men at tertiary level, as 68% of tertiary level students are female,” he said.

Earlier, opening the Hospital Engineering International Confe-rence and Exhibition 2013, the Prime Minister said privatisation had successfully improved the quality of support services in public hospitals.
“The high quality of service provided in public hospitals has also set a benchmark for the private sector to emulate,” he said.

The areas of privatisation of services included facility engineering maintenance, bio-medical engineering maintenance, linen and laundry services, clinical waste management services and cleansing services.
Najib said Malaysia had progressively undertaken various initiatives and programmes to improve its healthcare facilities and engineering services.
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