Johor to form special committee to evaluate plan to establish Bank Of Johor

Johor to form special committee to evaluate plan to establish Bank Of Johor

ISKANDAR PUTERI, April 24— The state government will form a special committee to evaluate a plan to establish the Bank of Johor.

Menteri Besar Datuk Seri Mohamed Khaled Nordin said the state government would at the same time, seek the advice of Bank Negara Malaysia (BNM), in appointing a consultant with the expertise to assist in efforts to form the bank.

“The state government will seriously consider the proposal by the Sultan of Johor, Sultan Ibrahim Almarhum Sultan Iskandar to form the bank,” he added.

He said this when winding-up debate on the last day of the Johor State Assembly, here today.

When opening the 13th Johor State Assembly on April 14, Sultan Ibrahim had suggested the establishment of the Bank of Johor.

Mohamed Khaled said the state government had to take into account various factors towards the establishment of the bank, including its aim, effectiveness of any model to be used, competitiveness and the source of expertise needed, as well as ability to fulfill the stringent terms and conditions set by BNM and the Financial Services Act 2013.

He also said the state government would be open-minded in looking at the best model and structure to be used, as well as various concepts for the bank.

— BERNAMA

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