Source from (The Star Online): http://www.thestar.com.my/Business/Business-News/2013/08/01/najib-fiscal.aspx
Published: August 01, 2013
Source from (The Star Online): http://www.thestar.com.my/Business/Business-News/2013/08/01/PM-Govt-committed-to-strengthen-fiscal-position.aspx
Published: August 01, 2013
Source from (The Sun Daily): http://www.thesundaily.my/news/786218
Published: August 02, 2013
Source from (Bernama): http://www.bernama.com/bernama/v7/bu/newsbusiness.php?id=967609
Published: August 02, 2013
Source from (The Malaysian Insider): http://www.themalaysianinsider.com/business/article/najib-budget-2014-to-strengthen-fiscal-macro-position
Published: August 02, 2013
"We do understand that there is a need for us to strengthen it," he said in a press conference on the introduction of a new iconic brand, 'Malaysia's Islamic Finance Marketplace', here Thursday.
The Prime Minister said this in response to Fitch Ratings' concern on Malaysia's public savings and structural budgetary reform that require reforms to stabilise the credit outlook.
The rating agency has revised Malaysia's sovereign credit rating outlook from stable to negative while affirming Malaysia's long-term foreign and local currency at 'A-' and 'A', respectively.
Najib said the affirmation on the country's long-term foreign and local currency is something positive, while the revision depends on the move that the government makes.
"I think it is good for us because it signals their concern -- it is a concern that we share as a government, and we will seek to address those concerns.
"The actual details will be unveiled shortly particularly in the forthcoming budget, so this is not too long," he said.
Earlier, Najib invited the global financial community to come and capitalise on Malaysia's Islamic finance marketplace and expressed hope for more cross-border multi-currency transactions.
He said the task now lies with the players and drivers of the marketplace to build and drive the industry and increase connectivity for the advancement of the global Islamic finance market.
"Malaysia has created a comprehensive and progressive Islamic Finance Marketplace that has grown from strength to strength for over 30 years.
"This level of sophistication in Malaysia's Islamic Finance Marketplace that is open to the world is a culmination of the concerted efforts of our Islamic financial industry community," he said.
Najib said the existence of a robust regulatory, supervisory, Shariah and legal framework in Malaysia offers a highly conducive environment for potential users of Islamic finance.
He said expertise, innovative products and deal-flows are to be found in the Malaysia Islamic Finance Marketplace .
"A wealth of Islamic finance platforms are available to the world to utilise: in banking, sukuk, equities, takaful, re-takaful, wealth management, talent development and professional ancillary services," he said.
-- BERNAMA
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