Bank Negara Malaysia met with leaders of the banking industry today to discuss issues relating to current economic developments and business conditions.

The continued access to financing is vital to sustain economic activity in the country. The banks are well placed to provide continued access to financing with the ample liquidity in the financial system and their sound financial position. Bank Negara Malaysia emphasised the importance for banks to continue to engage in responsible lending behavior and ensure no indiscriminate withdrawal or rejection of credit lines. It may also involve rescheduling and restructuring of facilities. The banks should be proactive in dealing with their customers.

The banking industry agreed to heighten the level of engagement between the banks and their customers. The Association of Banks Malaysia will also enhance communications with business associations, chambers of commerce and members of the public to increase awareness on access to and management of financial products and services.