PUTRAJAYA, 17 March 2020 – Following the special announcement last night by YAB Prime Minister Tan Sri Muhyiddin Yassin on the Movement Control Order, Minister of Finance, YB Tengku Dato’ Sri Zafrul Aziz claims that the Ministry of Finance is working closely with Bank Negara Malaysia, Securities Commission and Bursa Malaysia to ensure that capital and financial markets will continue to operate in a transparent and orderly manner.
YB states how the global economic conditions have weakened in recent weeks due to the ongoing COVID-19 pandemic, with most markets and almost every industry impacted to different degrees. He further mentions that as things are still unfolding, volatility in markets is only expected and the Malaysian economy has been similarly impacted by this.
“This is not the first time this nation has faced adverse challenges to the economy, and we have over the years, continued to strengthen our market infrastructure, rules, processes and buffers to withstand times of volatility
and uncertainty such as the one we are facing now.”
YB Tengku Dato’ Sri Zafrul Aziz, Finance Minister
“Bank Negara Malaysia, Securities Commission and Bursa Malaysia have been proactively monitoring the national and global development of COVID-19 to assess its impact and will continue to evaluate and recalibrate their responses to maintain market integrity. The Ministry of Finance will continue to work with these agencies and other ministries to ensure that the Malaysian capital and financial markets remain transparent, efficient and competitive,” he concludes.