Ismail, A.G. and Smith, P.
The evoloving role of monetary policy in the Malaysian banking system
Savings and Development, 4, (4), .
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In recent years, the Malaysian economy has enjoyed rapid economic growth. An important factor in enabling such growth has been the mobilisation of savings for the financing of investment: this in turn depends upon the existence of an appropriate banking system and a monetary policy which favours development. This paper explores the way in which the commercial banking system in Malaysia has evolved, and the way in which monetary policy has adapted to changing circumstances. An extra dimension has been added to the Malaysian system through the establishment of the Bank Islam Malaysia Berhad, which operates in accordance with Islamic principles.
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