KUALA LUMPUR: Moody's Investors Service continues to rate the outlook of the Malaysian banking system as stable despite the challenging cycle that the industry is facing. Moody's vice president and senior analyst Simon Chen said the stable outlook is driven by the strong capital levels and stable liquidity profiles of Malaysian banks, as the banks are primarily deposit-funded. We continue to have a stable outlook on the Malaysian banking system," he told reporters at Moody's media roundtable on Gulf Corporation Council (GCC) and Islamic finance: Volatile oil pressures and Islamic credit trends here today. He said the oversupply of crude oil will persist with OPEC (Organisation of Petroleum Exporting Countries)’s production increase, which outpaces the US’ production decline. De Guzman added that the demand growth for crude oil will be modest and driven by Asia, particularly China and India.

Source: New Strait Times September 20, 2016 10:07 UTC