The Ministry of Finance is a government body in Malaysia, and is responsible for raising and spending money to fund the government. It also develops and prepares the federal budget. The ministry’s primary mission is to keep the country’s finances in check and develop economic policies that benefit the nation. The following are some of the ministry’s key responsibilities.
Project finance is a key source of funds for a range of projects in Malaysia, including the extraction, processing, and transportation of natural resources. In addition, it can be used to finance the construction of power plants and other infrastructure projects. One of the main benefits of PF is its high level of financial leverage, which allows companies to invest heavily in big projects without diverting their resources from their core business. However, the risks involved in project finance require a comprehensive analysis of the project and a well-structured system of contractual relations.
Another sector of the Finance Malaysian economy is the asset and fund management sector. This sector supports both domestic and international companies with their financial portfolios by providing financial products and services. In Malaysia, asset management firms include Public Mutual Berhad, Principal Asset Management Berhad (formerly CIMB-Principal), and Affin Hwang Asset Management Berhad.
Malaysians are increasingly using online services for banking. In the last decade, internet banking in Malaysia has grown fourfold and surpassed 90 percent usage. Access to affordable data has also helped to increase the popularity of mobile banking. Malaysia also ranks highly in the World Economic Forum’s Network Readiness Index (WEF), ahead of Italy and other major economies. The most popular fintech services in Malaysia are digital payments, mobile wallets, and digital remittances. Some fintech services have even begun to use blockchain.