News : Malaysian financial services provider Maybank is to install new automated teller machines (ATM) in remote areas of the country, according to the New Sabah Times. Regions such as Kota Marudu, which has previously only been offered services by the bank through the post office, are to get new ATMs as part of the bank ' s effort to expand its presence in the region beyond its four branches. The opening of new ATMs is reportedly a prelude to the launch of new branches.
BMI View: We view the enactment of the new Financial Services Act 2013 (FSA) and the Islamic Financial Services Act 2013 (IFSA) as attempts by Malaysia to establish the world's first comprehensive legal framework for the Islamic banking industry. We believe that the new regulations will give Malaysian banks a significant advantage in expanding their Islamic banking operations overseas, and this is closely in line with our view that most of the potential for growth will come externally over the coming years.