Leave race out of digital bank licence issue, says PKR man
This comes after Bank Negara Malaysia granted digital bank licences to five consortiums on Friday.
PETALING JAYA: Conversations about the country’s digital bank licences should be focused on economic growth which cuts across racial boundaries, says a PKR leader.
On Friday, Bank Negara Malaysia (BNM) announced that five consortiums would be granted the country’s first-ever digital bank licences, with PKR secretary-general Saifuddin Nasution Ismail then questioning why the central bank had chosen only one Bumiputera company among them.
Commenting on Saifuddin’s views, PKR deputy information chief G Manivannan said the issuance of digital bank licences should not be treated as a race-based issue.
“Don’t be trapped in narrow-minded thoughts,” he said in a statement.
G Manivannan.
“Economic issues must be viewed through an economic perspective in the spirit of helping every layer of Malaysian society.”
FMT also reached out to PKR vice-president Tian Chua, who said that “a multiracial party like PKR” wanted to have an equitable distribution of resources among all races.
However, he did not admonish Saifuddin for his statement, instead noting that BNM’s announcement may have left Bumiputera businesses “anxious”.
“I can understand that, and that is what the PKR secretary-general expressed… whether our Bumiputera businesses will be left out,” he said.
“There is nothing racial about that, but rather an expression of concern.”
He added that BNM should have loosened restrictions to allow smaller companies to apply for the licence, stating that this would help create an even playing field in the financial sector and prevent monopolies.
On Friday, BNM announced that three consortiums — Boost Holdings Sdn Bhd and RHB Bank Berhad; GXS Bank and Kuok Brothers; and SEA and YTL Digital Capital — would be granted digital bank licences under the Financial Services Act 2013.
Meanwhile, a consortium comprising AEON Financial Service, AEON Credit Service Berhad and MoneyLion Inc, as well as one led by KAF Investment Bank, will be licensed under the Islamic Financial Services Act 2013.
Social media users react
Like the two PKR leaders, most of the netizens on social media felt the issue should not be viewed through a racial lens.
Taking to Twitter, former PNB CEO Abdul Jalil Abdul Rasheed described Saifuddin’s statement as “unnecessarily divisive”.
“You want a bank built on a solid foundation, not on racial lines,” said Jalil, who resigned as CEO of Berjaya Corp Bhd in March.
Replying to Jalil, Twitter user @TheDandyGoblin said Saifuddin’s statement seemed like an attempt to draw votes for the PKR polls in May, adding that the public should expect “more race and religious-centric statements” from such politicians.
On Facebook, Demi Harapan stated that the selection of digital banks should be made based on merit, not on race.
“Even if none of the Bumiputera-majority consortiums are selected because they cannot compete with others, then so be it. This country needs to practise meritocracy to excel, not affirmative policies,” said the Facebook user.
Commenting on Twitter, @dragon_buddy questioned whether Saifuddin was from the Malay-based parties like Umno, Pejuang, Bersatu and PAS.
Another Twitter user, @rena_rc, also had a similar opinion. “So this means that PKR is just the same as Umno, Bersatu and PAS — only good at playing the race card.”
PETALING JAYA: Conversations about the country’s digital bank licences should be focused on economic growth which cuts across racial boundaries, says a PKR leader.
On Friday, Bank Negara Malaysia (BNM) announced that five consortiums would be granted the country’s first-ever digital bank licences, with PKR secretary-general Saifuddin Nasution Ismail then questioning why the central bank had chosen only one Bumiputera company among them.
Commenting on Saifuddin’s views, PKR deputy information chief G Manivannan said the issuance of digital bank licences should not be treated as a race-based issue.
“Don’t be trapped in narrow-minded thoughts,” he said in a statement.
G Manivannan.“Economic issues must be viewed through an economic perspective in the spirit of helping every layer of Malaysian society.”
FMT also reached out to PKR vice-president Tian Chua, who said that “a multiracial party like PKR” wanted to have an equitable distribution of resources among all races.
However, he did not admonish Saifuddin for his statement, instead noting that BNM’s announcement may have left Bumiputera businesses “anxious”.
“I can understand that, and that is what the PKR secretary-general expressed… whether our Bumiputera businesses will be left out,” he said.
“There is nothing racial about that, but rather an expression of concern.”
He added that BNM should have loosened restrictions to allow smaller companies to apply for the licence, stating that this would help create an even playing field in the financial sector and prevent monopolies.
On Friday, BNM announced that three consortiums — Boost Holdings Sdn Bhd and RHB Bank Berhad; GXS Bank and Kuok Brothers; and SEA and YTL Digital Capital — would be granted digital bank licences under the Financial Services Act 2013.
Meanwhile, a consortium comprising AEON Financial Service, AEON Credit Service Berhad and MoneyLion Inc, as well as one led by KAF Investment Bank, will be licensed under the Islamic Financial Services Act 2013.
Social media users react
Like the two PKR leaders, most of the netizens on social media felt the issue should not be viewed through a racial lens.
Taking to Twitter, former PNB CEO Abdul Jalil Abdul Rasheed described Saifuddin’s statement as “unnecessarily divisive”.
“You want a bank built on a solid foundation, not on racial lines,” said Jalil, who resigned as CEO of Berjaya Corp Bhd in March.
Replying to Jalil, Twitter user @TheDandyGoblin said Saifuddin’s statement seemed like an attempt to draw votes for the PKR polls in May, adding that the public should expect “more race and religious-centric statements” from such politicians.
On Facebook, Demi Harapan stated that the selection of digital banks should be made based on merit, not on race.
“Even if none of the Bumiputera-majority consortiums are selected because they cannot compete with others, then so be it. This country needs to practise meritocracy to excel, not affirmative policies,” said the Facebook user.
Commenting on Twitter, @dragon_buddy questioned whether Saifuddin was from the Malay-based parties like Umno, Pejuang, Bersatu and PAS.
Another Twitter user, @rena_rc, also had a similar opinion. “So this means that PKR is just the same as Umno, Bersatu and PAS — only good at playing the race card.”
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