FMAM Press Release

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PERSATUAN PASARAN KEWANGAN MALAYSIA

(ACI – FINANCIAL MARKETS ASSOCIATION OF MALAYSIA)

 

22nd August 2015

The Financial Markets Association of Malaysia is encouraged by the Prime Minister & Finance Minister’s assurance that Malaysia will not impose capital controls nor peg the Malaysian Ringgit. This follows on from the same commitment made recently by the Governor of Bank Negara Malaysia.  Re-iterating and re-confirming market friendly policies are indeed welcomed by the financial markets which is experiencing significant market volatility despite the strong fundamentals of the economy. The commitment from the Prime Minister, Finance Minister and Central Bank Governor will help ensure that the market continues to remain robust and function well.

The Financial Markets Association of Malaysia, a professional body which supports the development of the financial markets and whose members include all Malaysian licensed banks, domestic as well as foreign owned, remains committed to providing regulatory guidance, hedging and transactional solutions to those exposed to the volatile foreign exchange rate market. This applies not only to onshore users but also to offshore investors who seek to hedge and protect their investments in Malaysia. Dispelling the possibility of capital controls is especially useful to foreign investors in a move that signals Malaysia’s continued commitment to an open capital and current account.