Bank of Malaysia
Bank Negara Malaysia is the central bank for Malaysia. It was established on 26 January 1959, under the Central Bank of Malaya Ordinance, 1958, with the following objectives:
In meeting these objectives, the Bank is guided by the principle that it should act only in the economic interest of the nation and without regard to profit as a primary consideration.
Hence, the functions of the Bank are carried out within the context of the broader goals of promoting economic growth, a high level of employment, maintaining price stability and a reasonable balance in the country's international payments position, eradicating poverty and restructuring society.
In particular, the Bank ensures that the availability and cost of money and credit in the economy are consonant with national macroeconomic objectives. In this respect, the Bank acts as the banker for currency issue, keeper of international reserves and safeguarding the value of the ringgit, banker and financial adviser to the Government, agency responsible for monetary policy and management of the financial system and banker to the banks.
See also HSBC Malaysia, Bank of Canada.
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