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Category: Financial Literacy EN

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Category: Financial Literacy EN

Right move to use the ringgit in international business

admin August 28, 2010 0 Comments
CAP applauds Bank Negara’s decision to relax the foreign exchange administration rules, to enable the ringgit to be used as a currency in international trade. The decision makes good economic sense.  Had the decision been made earlier it could have saved local business millions of ringgit. CAP had in fact brought up this matter with Bank Negara and the Ministry of Finance in January 2008....
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How hire-purchase amendments protect consumers

admin July 20, 2010 0 Comments
The Ministry of Domestic Trade, Cooperatives and Consumer Affairs should continue to protect consumers by strictly enforcing the Hire-Purchase Act 1967 (HPA) and the recent amendments which came into effect on 15 June 2011. Those in the motor business are complaining that their sales are down by 20-30% and they attribute it to the amendments though they also acknowledge that the amendments do...
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Clear the confusion over motor policy

admin May 18, 2010 0 Comments
The Ministry of Finance and Bank Negara Malaysia owes the public an explanation over conflicting reports about the proposed Third Party Bodily Injury and Death Benefits (TPBID) which is going to replace the third-party motor insurance. On one hand Bank Negara (which comes under the Ministry of Finance) has said that the TPBID policy is not finalized and has invited the public to give its...
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Bank Negara’s basic motor cover framework: What’s wrong and what’s the alternative

admin May 14, 2010 0 Comments
Bank Negara Malaysia (BNM) invited public comments on its proposed Third Party Bodily Injury and Death Benefits (TPBID) which is going to replace the third-party motor insurance. Below we reproduce the comments submitted to BNM by the Consumers Association of Penang (CAP). 1. The Problems and Issues with the current scheme as identified by BNM  Inadequate access to third-party insurance cover,...
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