In a stress test conducted in early 2014, the central bank found that Malaysia’s banks would be able to hold up even if the system faced shocks greater than those in the 2008 crisis. After a number of years of consolidation and in an environment of tight regulation, Malaysia’s commercial banks have continued to improve. Local banks have been ordered by Bank Negara to increase their collective...
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Malaysia’s natural resources and its well-educated population are some of the many credentials that keep the country in good stead, with priorities centred on preparing for the ASEAN Economic Community in 2015 and steering the policy framework toward more inclusive political representation. The economy is built around global trade, and the government is working to encourage greater private investment.
Articles & Analysis | An attractive alternative: Islamic bonds are an increasingly popular means of obtaining financing from The Report: Saudi Arabia 2014
A survey of the most significant sukuk (Islamic bond) issuances of 2013 reveals that a diverse array of institutions have turned to the instrument in order to acquire capital. The first of the major deals came in March with the Saudi Electricity Global Sukuk II, a US-dollar-denominated offering worth $2bn. In May three issuances were...
Articles & Analysis | Evolution and growth: From banking to insurance, the sector has considerable potential for expansion from The Report: Saudi Arabia 2014
Long a key participant in the global Islamic finance arena, Saudi Arabia secured its position in 2013 by becoming the largest issuer of sukuks (Islamic bonds) in the region for the second year in a row. With a banking industry in which sharia-compliant assets account for a growing share each year, and an insurance sector that has...
Interviews & Viewpoints | Smart regulation: Fahad Al Mubarak, Governor, Saudi Arabian Monetary Agency (SAMA), on new developments in the Kingdom’s financial sector from The Report: Saudi Arabia 2014
First, I would like to review the latest economic developments in Saudi Arabia. Last year, our economy continued to grow for the 14th consecutive year. Real GDP grew by 3.8% during 2013, which was greater than the global average of 2.9%. Meanwhile, the private sector grew by 5.5%. The growth of the Saudi economy was primarily driven by...
Interviews & Viewpoints | OBG talks to Bernd van Linder, CEO, Saudi Hollandi Bank from The Report: Saudi Arabia 2014
In what ways are banks preparing for future lending growth as demand increases in the private sector and government projects are implemented?