Our Role
ABM aims at facilitating a conducive banking environment, promoting orderliness and ethical banking practices. To meet the challenges of a changing marketplace, ABM pursues wide-ranging issues to assist the industry in its efforts to remain competitive.
Policies affecting banking infrastructure, interest rates and clearing system as well as areas such as on consumer education, risk management, human resource development and the banks’ contributions to socio-economic planning and development of the country are some of the issues that form part of the Association’s agenda.
Activities
The financial industry in collaboration with Bank Negara embarked on the Financial Sector Talent Enrichment Programme (FSTEP) to attract and develop high-calibre graduates from local and foreign institutions of higher learning to join the financial industry. ABM took the lead in two working groups i.e. Programme Design and Recruitment and was also involved in the Administration working group. Under the programme design, a one-year intensive programme was drawn up which included internship. For the recruitment exercise, ABM obtained the commitment of the industry players and BNM to identify 50 recruiters to conduct interviews and select the candidates.
Efforts to improve consumer literacy of banking products and services continued to play a key role in ABM. Over the years, ABM in collaboration with BNM had come up with the Consumer Education booklets to educate the consumer of the banks’ products and services. To ensure a wider readership, ABM undertook the translation of the booklets into Tamil and Mandarin.
Apart from the promotion of the interests of member banks, ABM also collaborates with other similar organisations, government and private groups to play a much broader role as part of its contribution to the country.
Regional Matters
Regionally, ABM is involved in forums such as ASEAN and APEC with the objective of enhancing economic development and cooperation within the region. Our involvement in the region also extends to holding an interest in ASEAN Finance Corporation Pte Ltd. This is an ASEAN joint venture by the banking community in ASEAN with the objective of mobilizing financial resources to finance projects in the ASEAN region in line with the ASEAN spirit of cooperation.
History
The Association of Banks in Malaysia was formed in November 1973 with the primary objective of establishing and promoting a sound banking system in Malaysia in cooperation and consultation with Bank Negara Malaysia.
Our Members
Through the process of consolidation, there are a total of 22 commercial banks, comprising 9 domestic banks and 13 locally incorporated foreign banks, which currently operate in Malaysia and which are members of ABM. Commercial banks constitute the largest and most important group of all financial institutions in Malaysia with total assets of approximately RM1,145,331 million as at December 31, 2006. Together, these banks have a total of 1,993 branches across the country and total workforce of over 95,000 staff.
