Abdul Rasheed Ghaffour says nearly half of Malaysians have difficulty setting aside RM1,000 for emergencies and are uninterested in buying insurance.
KUALA LUMPUR: A considerable number of Malaysians are still adopting a short-term mindset when it comes to financial management, according to Bank Negara Malaysia governor Abdul Rasheed Ghaffour.
According to Credit Counselling and Debt Management Agency data, many Malaysians have to go into debt when in need of money during emergencies. Rasheed said everyone must have knowledge about various financial products and their suitability — including how to manage debt.
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