Malaysia casts a wider net to boost growth

Developing countries have identified access to affordable financial services as critical to economic growth. Intent on boosting its peoples’ wealth by 2020, Malaysia is among the leaders in devising ways to bring its population into the formal financial system.

Developing countries have identified access to affordable financial services such as credit, insurance and secure savings as critical to economic growth. Intent on boosting its peoples’ wealth by 2020, Malaysia is among the leaders in devising ways to bring its population into the formal financial system.  

Some 2.5 billion adults globally have no access to financial services, according to the World Bank. These people often depend on informal money lenders where interest rates can be punitive, but which are quick and convenient to access.

Formal services, in contrast, may be geographically or technologically inaccessible, and require a swathe of identification documents not easily available to...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222