Friday March 31, 2006
Liberalisation efforts
THE financial services sector is expected to grow at an average annual rate of 7% under the 9MP, with its share of gross domestic product growing to 15.8% by 2010 and employment expanding at an average rate of 2.5% per year.
The Financial Sector Master Plan and Capital Market Master Plan will provide the framework for the gradual liberalisation of the sector's efforts.
To start with, efforts would be taken to equip human resources in the financial sector with the skills and expertise to promote a culture of continuous learning.
Clear policy guidelines and practices would be introduced with regard to talent management in order to produce well-trained workers.
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The 9MP aims to develop a more robust financial services sector. |
INCEIF is designed to act as a professional certification body and a training institute for post-graduates.
Initiatives to empower customers through the provision of appropriate information would be further intensified so that consumers can take responsibility for their own financial decisions and measures to promote greater consumer awareness and activism enhanced through more targeted consumer protection infrastructure.
The overall thrust of the 9MP would be to develop a more robust financial services sector to support socio-economic development and capitalise on new growth and wealth creating opportunities.
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