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Malaysia's Religious Affairs Minister has told Parliament that Tabung Haji's financial meltdown might have been prevented had the institution heeded five warning letters from Bank Negara Malaysia issued between 2014 and 2016.
Bank Negara Malaysia should move away from prescriptive regulation toward collaborative supervision with financial institutions, including expanded use of regulatory sandboxes, according to former deputy governor Datuk Ooi Sang Kuang.
The ringgit is expected to rebound from June's weak performance, with Bank Negara Malaysia's capital control measures and Malaysia's strong export growth supporting recovery to 3.80-3.95 per dollar by year-end.