TITLE : BANK NEGARA MALAYSIA: ANNUAL REPORT 1995.

 
Bank Negara Malaysia
 
Contents
 
1. Economic Management and Prospects  1
Malaysian Economy in 1995  1
Prospects for 1996  15
Management of the Economy  19
Monetary Management  41
Management of the Banking System 54
Deposit-Taking Cooperatives 66
Box A: The Services Sector and Economic Growth - An International
       Comparison 69
Box B: The Services Sector in Malaysia	74
 
 
2. International Environment  79
World Economy 79
International Monetary System 84
ASEAN Economies 94
Regional Cooperation 98
 
 
3. Monetary Developments  103
The Flow of Funds 103
Money Supply 107
Bank Liquidity, Money Market and Interest Rates 110
Box C: Financing the Services Sector 116
 
 
4. The Financial Institutions  121
Commercial Banks 121
Finance Companies 133
Merchant Banks 139
Discount Houses 142
Other Financial  143
Box D: Services: Global and Regional Approaches To Liberalisation  164
Box E: Information Technology in the Banking Industry  168
Box F: Developments in the Insurance Industry and challenges for the
       Future   175
 
 
 
5.  Capital, futures and Commodity Markets  180
Capital Market 180
Financial Futures and Options Market 189
Commodity Markets 190
Box G: Fund Management Industry in Malaysia 1 92
 
 
6. Public Finance  196
Consolidated Public Sector 197
Federal Government 198
State Governments 212
Non-Financial Public Enterprises	215
Box H: Government Services	218
 
 
7. Production  222
Agriculture, Forestry and Fishing 222
Mining 226
Manufacturing 229
Construction 234
Services 239
BoxI : Market Structure and Ownership in the Services Sector in
       Malaysia 241
Box J: Productivity and Efficiency in the Services Sector in Malaysia
       246
Box K: Information Technology and Economic Growth 250
 
 
8. Prices, Wages and Employment  254
Prices 254
Wages 257
Employment 259
 
 
9. Balance of Payments
Gross Exports 263
Gross Imports 279
Merchandise Account 283
Services and Transfers Account 284
Capital Account 286
International Reserves 288
External Debt 289
Exchange Control Policy 291
Foreign Exchange Operations 293
Box L: Trade in Services: Future Direction 296
 
 
10. Staff and Oganisation  301
 
 
11. Annual Accounts
Balance Sheet as at 31 December 1995