BNM conducted 900 engagements with business community in 2019

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KUALA LUMPUR: Bank Negara Malaysia’s (BNM) Economic Liaison Officers (ELOs) conducted around 900 engagements with the business community across the country in 2019.

In its Annual Report 2019 released yesterday, BNM said the ELOs, situated at each of its five offices in Penang, Johor Bahru, Kuala Terengganu, Kuching and Kota Kinabalu, act as ‘eyes’ and ‘ears’ with the business community across the country.

“All-in-all, these engagements allow us to keep a good pulse on the economy and financial system, be it to discern what business conditions are like in different corners of the country, or to seek feedback on how our policies and actions impact different stakeholders.

“In turn, insights from these engagements are analysed to help us make well-informed policies,” it said.

Meanwhile, the central bank said BNMLINK acts as a key touchpoint for engaging with the general public and small businesses.

As part of its outreach, it said BNMLINK holds a variety of public programmes throughout the nation to increase financial literacy awareness and inclusion.

“In 2019, we organised five Karnival Kewangan events in collaboration with the financial industry, attended by over 81,000 people.

“With the support of the National Institute of Public Administration, we also launched our first online financial literacy programme “Modul Pendidikan Kewangan” for civil servants in March,” it said.

BNM said these activities are part of the broader nation-wide financial education agenda, aimed at raising the capability of Malaysian households and small businesses to manage their finances in a prudent manner.

The central bank’s Museum and Art Gallery in Kuala Lumpur also serves as another important platform for engaging the public.

Through its exhibition and education programmes, BNM said, the museum not only encourages an appreciation for numismatic and art heritage, but also promotes public awareness and understanding on the bank’s role in the economy and financial sector.

“In 2019, we hosted a special exhibition to commemorate our 60th anniversary as Malaysia’s central bank.

“The exhibition chronicles our journey, which began with a staff strength of just 67 people in 1959 and through various challenges and reforms that defined the Malaysian economy and financial system over six decades,” it added. — Bernama