Bank Negara Malaysia says will keep Malaysian financial markets in order
Published on: Monday, April 15, 2024
By: FMT Reporters
Bank Negara Malaysia says financial market participants have concurred that any uncertainties will recede and stabilise once the geopolitical situation de-escalates.
Kuala Lumpur: Bank Negara Malaysia (BNM) says it will ensure that Malaysian financial markets remain orderly and continue to function efficiently in light of the current geopolitical situation.
Bernama reported the central bank as saying in a statement that it “continues to closely monitor conditions in the financial markets and will manage any risks arising from heightened financial market volatility”, following Prime Minister Anwar Ibrahim’s statement yesterday on the conflict in the Middle East.
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BNM said it had engaged with financial market participants, including heads of treasury operations, who concurred that any uncertainties would recede and stabilise once the geopolitical situation de-escalates.
It said it would also ensure sufficient liquidity and the orderly functioning of the foreign exchange market, supported by ongoing initiatives with government-linked companies, government-linked investment companies, corporations and exporters to bring more inflow and liquidity into the foreign exchange market.
Yesterday, Anwar, who is also the finance minister, said the federal government was keeping a close eye on developments in the Middle East and would take appropriate action to safeguard the nation’s financial and economic stability.
He said he had chaired a meeting yesterday with deputy prime minister Ahmad Zahid Hamidi, agriculture and food security minister Mohamad Sabu and other top officials to discuss the conflict in the region.
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Anwar also said that the government was keeping a close watch on developments and the position of financial markets, including the potential impact on Malaysia.
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