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The Malaysian ringgit is the currency of Malaysia. It is divided into 100 sen (cents). The ringgit is issued by Bank Negara Malaysia, the central bank of Malaysia.
Labuan, officially the Federal Territory of Labuan, is a federal territory of Malaysia. It is made up of the eponymous Labuan Island and six smaller islands, and is located off the coast of the state of Sabah in East Malaysia. Labuan's capital is Victoria and is best known as an offshore financial centre offering international financial and business services via Labuan IBFC since 1990 as well as being an offshore support hub for deepwater oil and gas activities in the region. It is also a tourist destination for people travelling through Sabah, nearby Bruneians and scuba divers. The name Labuan derives from the Malay word labuhan which means harbour. Labuan is often referred to as the pearl of Borneo.
The federal territories in Malaysia comprise three territories: Kuala Lumpur, Putrajaya and Labuan, governed directly by the federal government of Malaysia. Kuala Lumpur is the national capital of Malaysia, Putrajaya is the administrative capital, and Labuan is an offshore international financial centre. Kuala Lumpur and Putrajaya are enclaves in the state of Selangor, while Labuan is an island off the coast of Sabah.
The Central Bank of Malaysia is the Malaysian central bank. Established on 26 January 1959 as Central Bank of Malaya, its main purpose is to issue currency, act as banker and adviser to the Government of Malaysia and regulate the country's financial institutions, credit system and monetary policy. Its headquarters is located in Kuala Lumpur, the federal capital of Malaysia.
The states and federal territories of Malaysia are the principal administrative divisions of Malaysia. Malaysia is a federation comprising 13 states (Negeri) and 3 federal territories.
Malayan Banking Berhad is a Malaysian universal bank, with key operating "home markets" of Malaysia, Singapore, Philippines and Indonesia. According to the Brand Finance report, Maybank is Malaysia's most valuable bank brand, the fifth top brand in Asean and ranked 83rd in the world’s most valuable bank brands.
Victoria or Victoria Town is the capital of the Federal Territory of Labuan in Malaysia, an island group off the north coast of Borneo. It is in the southeast corner of Labuan and its Malay name, Bandar Victoria, is commonly used in honor the reign of Queen Victoria. The town is an urban district within the wider city limits of Victoria which includes Labuan Port, a sheltered deep-water harbour which is an important trans-shipment point for Brunei Darussalam, northern Sarawak and western Sabah.
HSBC Bank Malaysia Berhad was incorporated locally in Malaysia on 1 October 1984. It is part of the HSBC Group and is a wholly owned subsidiary of HSBC Holdings plc, headquartered in London. The Group serves about 39 million customers worldwide from offices in 66 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. Locally, HSBC Bank Malaysia Berhad serves customers with a network of over 60 branches nationwide, where about a third are the branches of its Islamic Banking subsidiary, HSBC Amanah Malaysia Berhad.
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Malaysia was once ranked 9th in the world for tourist arrivals. The Travel and Tourism Competitiveness Report 2017 ranks Malaysia 25th out of 141 countries overall.
AmBank Group comprises AMMB Holdings Berhad is one of the largest banking groups in Malaysia whose core businesses are retail banking, wholesale banking, islamic banking, and life and general insurance.
Citibank Berhad is a licensed commercial bank operating in Malaysia with its headquarters in Jalan Ampang, Kuala Lumpur. Citibank Berhad operates as a subsidiary of Citigroup Holding (Singapore) Private Limited. Commencing its banking operations in Malaysia in 1959, Citibank Berhad was locally incorporated in 1994.
INCEIF was set up by Bank Negara Malaysia in 2005 to develop human capital for the global Islamic finance industry. Commonly known as INCEIF – The Global University of Islamic Finance, it is the only university in the world dedicated to Islamic finance. INCEIF is part of Malaysia's initiative to promote education in Islamic finance for the domestic and international finance community.
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The Ministry of Finance, abbreviated MOF, is a ministry of the Government of Malaysia that is charged with the responsibility for government expenditure and revenue raising. The ministry's role is to develop economic policy and prepare the Malaysian federal budget. The Ministry of Finance also oversees financial legislation and regulation. Each year in October, the Minister of Finance presents the Malaysian federal budget to the Parliament.
The Malaysia International Islamic Financial Centre (MIFC) is an initiative of Malaysia’s financial market regulators and relevant government agencies dedicated to developing Malaysia’s Islamic finance market by engaging with industry and government. The initiative was launched in 2006 and is based in Kuala Lumpur, Malaysia.
Asia School of Business(ASB) is a partnership between MIT Sloan School of Management and Bank Negara Malaysia with the goal of creating a business school offering business administration related courses in the form of a 20-month full-time MBA program and executive education classes for students from Malaysia and around the world. Through the partnership, MIT Sloan and Bank Negara collaborate on academic program design, curriculum design, organizational design, admissions, and the administration of the Asia School of Business. Courses at ASB are taught by MIT Sloan faculty and local ASB faculty, with the latter also serving as MIT Sloan International Faculty Fellows who spend time teaching and conducting research development at MIT's main campus. Students in the full-time MBA program study at both the MIT Sloan campus located in Cambridge, Massachusetts, and the ASB campus located in Bukit Tunku, Kuala Lumpur. The collaboration between MIT Sloan and ASB is currently overseen by Professor Athanasios Orphanides and Professor Eric So of MIT Sloan. The current Dean of ASB is Professor Charles Fine, an operations professor at MIT Sloan.
Datuk Nor Shamsiah binti Mohd Yunus is the Governor of the Central Bank of Malaysia from 1 July 2018 who replaces Tan Sri Muhammad bin Ibrahim. She has served as Deputy Governor of Bank Negara from 2010 to 2013 and from 2013 to 2016. Later, she joined the International Monetary Fund as Assistant Director of the Financial and Capital Markets Division.
References
- ↑ Launch of Labuan IBFC by the Governor of Bank Negara Malaysia
- ↑ "About Labuan". Labuan IBFC. Retrieved 1 September 2014.
