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(KUALA LUMPUR) Prime Minister Abdullah Ahmad Badawi yesterday asked banks not to unreasonably stop lending and keep liquidity flowing in the economy. He said that the government would continue efforts to stimulate the economy in these difficult times but the financial sector must continue to actively play its role as well.
Mr Abdullah said that Malaysia's economy needed further transformation, such as the shift from investment-related competitive advantage, to one that is technology-driven, if the nation is to realise its 2020 developed nation status, eradicate hardcore poverty and reduce overall poverty rate to 2.6 per cent by 2010.
He outlined several strategies such as the growth enhancement of small-and medium-scale enterprises and the advancement of Islamic finance as critical to Malaysia's future success.
In a dual financial environment, he said, Islamic finance has proven to be a viable channel of financial intermediation as it is also competitive in terms of product and services. -- Bernama
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