KUALA LUMPUR, Feb 24 (Bernama) — Malaysia expects fair assessments by sovereign rating agencies on the back of the country’s strong underlying fundamentals at present.
The country has also a strong financial system, steady economic growth path and current account surplus, alongside a low level of external debt and high reserves, said Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz said.
Speaking to reporters after inaugurating the Maybank Islamic Shariah’s Centre of Excellence (SCOE) here today, she said Malaysia had a lower regional unemployment rate, at less than three per cent.
“Rising household debt has been on a moderating trend since 2010.
“All areas of vulnerability have been addressed and we expect rating agencies to take these factors into account,” Zeti added.
Touching on the ringgit, she said the local unit which is undervalued at present, would reflect the country’s underlying fundamentals overtime.
Meanwhile, Maybank Islamic’s SCOE aims to be a repository of Shariah knowledge and reference point on Shariah best practices.
It is dedicated to industry players, the academic fraternity and the general public.