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Are the recent moves by Bank Negara Malaysia to impose curbs on lending to the auto and property sectors a tad drastic? Will it weigh down the banking sector?
RECENT MOVES BY BANK NEGARA MALAYSIA (BNM) TO impose curbs on lending to the auto and property sectors has raised a question - has the Central Bank over-reacted? Car dealers are upset that January auto sales fell by 25% due to banks rejecting loan applications based on the more stringent requirements. Similarly, the number of property-related transactions too is believed to have slowed down.
Is there a need for banks to suddenly turn cautious? After all, the top- three banks recently announced bumper net …