Impact of Global Problems on Malaysia's Financial System

A Moment in time with MFPC Leader:

Malaysian Financial Planning Council (MFPC) persisted to uphold in 2016 its aim of promoting financial planning education program and services align with the mission to certify financial planners and uplift their professionalism.

Throughout the difficulties in calendar year 2016, the successes will spur us on together to attain increased and better success in our contribution into the progress and development of the financial planning education and industry in future. I possibly could say that this year is a very fast-moving calendar year for all of us but I believe we will come out of it wiser and more powerful through hard-hitting times besides the pain we feel, our company is always reminded of our own humanity plus our renewed trust in the kindness of people all around us.

Malaysia was however not separated from the global economical downturn. The declining global monetary conditions and the major modification in product prices in the entire year of 2016 noticed Malaysia's GDP moderate to increase gradually compare to prior months ago. We're able to see the initiative and tactical actions taken by Bank or investment company Negara Malaysia (BNM) to support the usage of financing and convenience any impact of the razor-sharp risk aversion among banking companies. The financial intermediation process in the Malaysian financial system has remained orderly throughout the period of monetary turbulence which we're able to view it was a crucial influence in making sure the continued movement of funds in to the market besides than providing support to borrowers confronting momentary cash flow stress.

In standard, the Malaysian banking system entered the current global financial and economic crisis from a much stronger position compared to the Asian financial meltdown. The merging and restructuring of the bank industry as well as improvements in the governance framework, risk management construction, infrastructure and practices, as well as the capability building undertaken as part of the banking sector have significantly strengthened the foundations for financial steadiness. In addition, the Malaysian bank operating system operates in a expanded financial system, with a developed capital market of RM 2. 9 trillion.

4th Malaysian general election (GE14), Political Conflict and Financial Situation in Malaysia.

Since its freedom, Malaysia has gone through thirteen shows of general election and the 13th Parliament of Malaysia will automatically dissolve on 24th June 2018. Thus, another Malaysia basic election is just about the nook and the approaching GE14 leaves many important questions unanswered.

During the last two episodes of standard election, the competition among the National Front (Barisan Nasional) coalition and the People's Alliance (Pakatan Harapan) was so close that the chance of winning was 50-50. The politics wave changes in Malaysia brought up questions about the health of the investment fund, and more importantly, around how exposed Malaysian financial market segments are to risks stemming after the election. Additionally, the instability of Malaysian politics experienced impacted investor's to grab in Malaysia overall economy and it could bring an enormous impact to personal money in many ways including the increase or reduction in tax.

Debts in our midst: What went wrong?

Malaysian are finding themselves living on the fringes of debt. A question to us? What's actually happening? Could it be because of the economic turndown or Malaysian today continues to be residing in the illusion world of shopping for now paying later? Along with the growing costs of living, loan is becoming an important funding tool for Malaysian from all income levels. Thus, they'll actually create bills as soon as they requested loans and higher purchase loans in charge of the increase amount of debt conditions in Malaysia.

What is Approaching Next?

Soon, in the month of Apr, we will recognise our graduates at the 7th MFPC Graduation ceremony at Putra World Trade Centre (PWTC), Kuala Lumpur. Their continuous hard work, determination and pursuit of financial competency will be honoured and commemorated on 15th Apr 2017. These graduates will assist in further appropriating the extension of financial planning and the progress of the financial sector. We will continue to arranged fundamentals for nation requirements and ensure that RFP and Shariah RFP designation continue to be exclusive.

MFPC will constantly review and keeping ourselves well-informed of development as to preserve within an ever changing environment. On 15th May 2017, MFPC will be having the Annual Basic Interacting with where we will writing with you more on our programs and activities to the accomplishment of your corporate eye-sight for season 2017.

Last term as MFPC Chief executive

Malaysian Financial Planning Council is underpinned by its constitution, Advisory Mother board and Country wide Council Members that gives selflessly time and skills. Being truly a part of MFPC has given me the responsiveness for what must be done to run a business such as Malaysian Financial Planning Council; the tactical and financial planning that is required - while at the same time keeping all the stakeholders happy, retaining the honor and integrity of the council eye-sight, while still being available to innovative change. It's been a substantial learning curve for me and one which I undoubtedly learned a great deal from.

As MFPC strives to construct on its achievements, it is mindful that it's been privileged to have the support and companionship of several individuals, organizations and government entities - both in Malaysia and beyond. We say thanks to our friends and companions for collaborating around throughout my conditions, and we look forward to their carrying on support.

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