Citibank Study Finds Malaysia Cash-Based
Cash and deposits still dominate the Malaysian household wallet at 44% compared to the United State’s mere 18%, according to the study conducted by Citibank in 2004.
The immediate result of such a concentration of cash, the study emphasized, is to create a drag on real returns over the long run.
It’s a good thing that the Malaysian government recently imposed a new regulation for foreign exchange, which will entice investors to find alternative options to cash and alleviate the effect of a highly cash-based financial sector.
Asked what it has to say on the new changes in Malaysia’s foreign exchange, Citibank finds the move an encouraging one especially for Malaysians who now have the option to save smarter, not just harder with the opportunity to manage their investments more efficiently.
"We…advise our clients in the Asia Pacific region to include globally diversified investment products in their portfolios…consider their options carefully and seek professional advice when making investment decisions," said two of Citibank’s department officers.
Source: Citibank Welcomes Relaxation of Foreign Exchange Administration, news.citigroup.com
The immediate result of such a concentration of cash, the study emphasized, is to create a drag on real returns over the long run.
It’s a good thing that the Malaysian government recently imposed a new regulation for foreign exchange, which will entice investors to find alternative options to cash and alleviate the effect of a highly cash-based financial sector.
Asked what it has to say on the new changes in Malaysia’s foreign exchange, Citibank finds the move an encouraging one especially for Malaysians who now have the option to save smarter, not just harder with the opportunity to manage their investments more efficiently.
"We…advise our clients in the Asia Pacific region to include globally diversified investment products in their portfolios…consider their options carefully and seek professional advice when making investment decisions," said two of Citibank’s department officers.
Source: Citibank Welcomes Relaxation of Foreign Exchange Administration, news.citigroup.com
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