Malaysia’s financial services drive growth, up 10.6pc from 2015 to 2022, with financial establishments doubling during this period, says Stats Dept

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KUALA LUMPUR, Aug 1 — Malaysia’s financial services achieved a 10.6 per cent combined annual growth from 2015 to 2022, s...

DoSm said that the value of fixed assets in financial services increased 3.6 per cent from RM245.6 billion in 2015 to RM314.8 billion in 2022.“The other financial service activities and activities auxiliary to financial services segment was the main contributor to the value of fixed assets amounting to RM287.8 billion (91.4 per cent).“Followed by monetary intermediation activities (RM17.2 billion; 5.5 per cent), insurance and takaful, reinsurance and retakaful, and pension and provident funding activities (RM9.5 billion; 3.0 per cent),” it added.

The DoSM said that data from its Economic Census 2023 showed that active financial establishments increased from 15,945 in 2015 to 32,245 in 2022.

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Category: EconomyBusiness

Markets: Malaysia

Topics: Malaysia economy Financial services Department of statistics malaysia DOSM Malaysia

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Published On: 2024-08-01 @ 16:47:31 (1 days ago)

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