KUALA LUMPUR, March 4 -- The Finance Ministry has been urged to introduce stricter guidelines to ensure that bank transactions, especially in shipping, are transparent.
Senator Datuk Sivaraj Chandran brought up the suggestion after he received complaints from a local shipping company, Maritime Network Sdn Bhd, about several alleged suspicious financial transactions.
"Belief in the national financial system is very important for the economic stability and the sustainability of any industry.
“I urge the authorities to tighten monitoring and to boost transparency in the banking system to mitigate risks that could affect investor confidence and industry players,” he said while debating the motion of thanks on the Royal Address at Dewan Negara today.
Bernama had previously carried a report in which Maritime Network Sdn Bhd chief executive officer Datuk Seri Jeyenderan Ramasamy provided some advice on financial transactions and urged other shipping agencies to conduct detailed research before venturing into any business dealings to reduce risk of being involved in criminal activities.
-- BERNAMA
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