Banks in Malaysia Industry Overview
Invest with Malaysia banking institutionsBanks in Malaysia benefit greatly from the country's strong economy and deposits from the Malaysian energy sector. Banking in Malaysia is regulated by the Bank Negara Malaysia, which is the country's central bank. Commercial banking in Malaysia provides businesses with several hot business opportunities by providing access to both Middle Eastern and Asian economies.
This banks in Malaysia industry overview also covers some of the major foreign owned banks that are heavily invested in Malaysia commercial banking. There are many Malaysia banks that provide Muslim customers with specialized Islamic banking. Malaysia commercial banks have offered Islamic banking services since 1963, and Islamic banking is experiencing rapid growth with billion dollars in Sukuk ("Islamic bond") issued every week.
1. Start banking in Malaysia by reviewing both governmental regulations and Malaysia banking institutions that cater to Islamic customers.
2. Compare Malaysia banks before banking in Malaysia. Some banks in Malaysia offer more services to foreign businesses than others.
3. Visit several Malaysia banking institutions before deciding on a commercial bank in Malaysia.
Select from the largest Malaysia banks to ensure a full range of services
Choose only from fully compliant Malaysia banking institutionsSelect a Malaysia commercial bank that has always fully met government regulations and is fully up to date in regards to banking technology. Most Malaysia banks that offer international banking services are fully compliant, with not only national but also international standards.
Visit banks in Malaysia before you investConducting businesses with foreign companies has both pitfalls and potential. This especially true when working with Malaysia banks due to the interconnectedness of banking regulations and religious guidelines. It is best to spend at least a month in Malaysia to become familiar with the culture and business environment before depositing money in any Malaysia banking institution.
- Establish an office in Malaysia if your company will be conducting a great deal of banking there. When problems arise, they are best dealt with in person.
Copyright © 2013 Business.com, Inc. All Rights Reserved.