KUALA LUMPUR, Feb 23 — Malaysians’ loss of faith in businesses and local institutions did not extend to Bank Negara Malaysia, Tan Sri Zeti Akhtar Aziz said today in response to the Edelman Trust Barometer survey.
Zeti pointed out that the central bank has been pivotal in the country’s economic performance and ensured that the local banking system was smooth and uninterrupted.
“I do believe that if the majority of the Malaysians do have a trust and respect in the central bank and look to us to maintain a stability in our country in a very challenging time,” she told reporters today after the groundbreaking ceremony at the site for the Asia School of Business.
“The fact is we never had a disruption in credit flows. This is important because business are not deprived of credit activities unlike in other places where credit flows are disrupted and liquidity is not provided in satisfactory manner,” she added.
She acknowledged that Malaysia’s foreign reserves have declined in recent years, but pointed that the situation has stabilised.
Zeti also stressed that BNM has repeatedly demonstrated its resilience in times of economic distress, which she said was the result of its policies to address existing weaknesses.
The Edelman survey results showed today that Malaysians level of trust in Putrajaya, business and the media have deteriorated owing to local scandals and controversies including 1Malaysia Development Bhd (1MDB).
BNM was one of four federal agencies that was part of a task force probing the state-owned firm.
