Bank Negara sets liberalisation timetable

The Malaysian government's support for and policies in the Malaysian financial sector have been played an integral role in bringing Islamic banking to where it currently is. Bank Negara Malaysia launch, on 1st March 2001, its Financial Sector Master Plan. This Master Plan has found praise in many quarters. Its target of Islamic Banking gaining 20 per cent of market share by 2010 is seen as achievable. It also provides a realistic time frame for increasing domestic competition and introducing foreign competition. The implications of the Master Plan are discussed.