Bank Negara Malaysia looks to co-operatives to boost financial inclusion

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Bank Negara Malaysia has set out the operational and assessment framework it will use when considering an application by a co-operative society to take deposits from the wider public.

A bank spokesperson told CentralBanking.com that cooperatives "are an important vehicle in pursuing financial inclusion" as they are well placed to provide financing – predominantly through extending loans – to the "underserved segment of the population".

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