THIS week, UMNO's information chief Isham Jalil said FAT BANKS are making READ : RM1 billion per month from borrowers.
APPRENTLY, the amount is about to get larger and much wider. READ : Banking sector earning for 2023 to rise 15 per cent to RM31 billion, says RHB Research.
THE steep increase is largely thanks to a little helping hand from Bank Negara Malaysia, which the research house claims will soon raise interest rates.
It sounds like a whisper
Poor people gonna rise upAnd get their sharePoor people gonna rise upAnd take what's theirs
Don't you know you better run, run, run, run, run, runRun, run, run, run, run, runOh, I said you better run, run, run, run, run, runRun, run, run, run, run, run
'Cause finally the tables are starting to turnTalkin' 'bout a revolution
FIRST and foremost, Bank Negara Malaysia does not raise interest rates to make the banks richer, but rather it is done to help cool down inflation and retain liquid investments which will always be on the lookout for the best deposit interest rates.
SECONDLY who owns most of the banks IE Maybank, CIMB and RHB? Well they are all indirectly or directly owned by the Government via Government linked entities.
THE Government should not be running a silent campaign to make banks which actually they control look like devils, instead why not open up the banking sector because the poor in Malaysia are forced mostly take loans from pawn shops and loan sharks. READ : The legal pawn business is worth RM4.5 billion and growing.
THE illegal side is obviously much more...how much more is anybody's guess but rest assured it is in the Billions.
