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KUALA LUMPUR, Sept 28 (Bernama) -- Total banking system deposits declined by RM1.1 billion or 0.2 percent in August, due to withdrawals by business enterprises mainly in the form of fixed deposits and lower interplacement among banking institutions.
"The lower deposits of business reflected largerly withdrawals for the payment of petroleum loyalty," Bank Negara Malaysia (BNM) said in its Monetary and Financial Developments for August released here today.
On the other hand, it said that placements by individuals continued to incease, in particular fixed, demand and savings deposits, while deposits of the statutory authorities were also higher.
On an …