KUCHING (June 26): Bank Negara Malaysia (BNM) has been urged to carry out a comprehensive review on the safety mechanism of various banks in the country to better protect the interest of account holders.
This call was made in one of the resolutions passed during the Federation of Kuching, Samarahan and Serian Divisions Chinese Associations’ annual general meeting held at its premises in the City Square here today.
The federation said BNM had to engage further efforts to enhance the safety mechanism of banks so as to rebuild public confidence especially in light of a recent spate of news reports on bank accounts having been hacked – money withdrawn without the knowledge of the account holders concerned.
It added that more and more people are getting worried about this bank safety issue.
The federation said it would write to BNM to bring up the matter.
To help address the rising costs of living, the federation, in another resolution, called on the federal and Sarawak governments to come up with professional and transparent mechanism to revive the country’s economy.
The federation pointed out that the Russia-Ukraine war had aggravated the already worsening economic situation due to the Covid-19 pandemic.
It said many people are struggling following the increasing costs of living.
The federation pledged to write to both the federal and state Finance Ministry to raise the matter.
Another resolution also appealed to the federal government to replace the current Sales and Services Tax (SST) with Goods and Services Tax (GST) at a rate of three per cent.
The federation said GST is a more comprehensive tax system, which taxes are paid based on consumptions, adding that it would write to the federal government on the matter.