Foreign Banks Move to Malaysia

Angela Hager

Two foreign banks, one Chinese and one Indian, might start operations in Malaysia within the next two years. Malaysia already has fairly strong economic ties with both countries, so it seems natural for the banks to open up.

The Indian bank will be comprised of a consortium of three banks, and approval for the banks should be given by December 31.

The added banks should elevate competition and improve products and services.

In the aftermath of the financial crisis, it looks very good for Malaysia to have more banks opening within its borders. Malaysia has sacrificed some civil liberties in order to have a more stable economy. It looks like they may just be getting that stable economy after all. More foreign banks entering into the market helps keep Malaysia looking secure, stable, and predictable.