CIMB-UUM Chair Public Lecture Discusses The Effects Of TPPA On Malaysian Banking Industry
Kuala Lumpur - Last February, Malaysia signed the Trans-Pacific Partnership Agreement (TPPA) in Auckland, New Zealand, making Malaysia the 12th member of the TPPA.
TPPA is a trade pact aimed at liberalizing trade and investment, in addition to stimulating economic growth and social.
In the context of Malaysian banking industry, CIMB-UUM Chair held a public lecture delivered by Prof. Emeritus Dr Salim Rashid, CIMB-UUM Chair Professor of Banking and Finance to discuss the impact of the TPPA on the country's banking industry at Sasana Kijang, recently.
In his lecture, Prof Emeritus Dr Salim talked about of TPPA and its effects on the real economy as well as the best way to cope with economic change in the future.
In addition, he also described the direct effects of the TPPA on the financial and banking with regard to various aspects namely securities, accounting and Competitive Policy if banks in Malaysia 'lose out'.
During the lecture he also explained the specific implications of the TPPA on banks from the aspect of foreign bank competition and Malaysia’s preparation to face the future without local banks.
"It is not clear whether competition policy in the financial sector can control any result except with a clause in use in the interest of the nation.
"In addition, because the TPPA aims to promote economic growth and finance, there is also the positive role that can be played by banks in Malaysia. These banks can act as activists that will introduce and monitor innovative projects to increase the growth rate of Malaysia," he said.
At the end of the lecture, a question and answer session between the audience and Prof Emeritus Dr Salim took place.
The CIMB-UUM Public Lecture Chair was also attended by the Chief Executive Officer of CIMB Group, Yang Mulia Tengku Dato' Sri Zafrul Aziz; Chairman of the University Board of Directors (LPU) UUM, Tan Sri Siti Sa'diah Sheikh Bakir and UUM Vice-Chancellor, Prof Dato' Seri Dr Mohamed Mustafa Ishak.