Radzi calls for dedicated regulator for non-bank financial institutions
The Putrajaya MP notes that Malaysia does not have a comprehensive regulatory framework for non-bank financial institutions such as Tabung Haji and EPF.
Putrajaya MP Radzi Jidin has called for a dedicated prudential regulatory agency to oversee Malaysia's non-bank financial institutions (NBFIs), such as Tabung Haji, EPF, KWAP, LTAT, and PNB. The government should consult regulatory experts, like former BNM governor Muhammad Ibrahim, to establish a "super-regulatory body" modeled on the Australian Prudential Regulation Authority (APRA).
Radzi emphasized that Malaysia currently lacks a comprehensive regulatory framework for NBFIs, which play a crucial role in the financial system by affecting capital markets, government financing, market stability, and economic resilience.
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- Radzi calls for dedicated regulator for non-bank financial institutions freemalaysiatoday.com
