COMMENT | Tok Pa, please speak to Bank Negara

COMMENT | Minister in the Prime Minister’s Department (Economy) Mustapa Mohamed has reminded banks to do more to help rebuild the economy, with particular attention to helping small and medium enterprises (SMEs), which have been disproportionately affected by the pandemic.

This reminder from the minister is timely, and I like the forceful way he presented his speech. He wanted the banks to do more to help alleviate poverty and the difficulties suffered by small businesses.

This is the new Tok Pa we have been waiting for a long time.

However, banks in this country tend to be too subservient to Bank Negara Malaysia. Our central bank is not just a lender of last resort, nor sees itself as limited to controlling inflation and setting the monetary and fiscal policies.

On a macro basis, of course, Bank Negara will need to...