KUALA LUMPUR: Malaysia’s Money Services Business (MSB) industry is expected to grow by 10 per cent to RM130.35 billion this year, up from RM118.5 billion in 2016, mainly lifted by growth in the wholesale currency business. Malaysian Association of Money Services Business (MAMSB) President, Ramasamy Veeran said the wholesale currency business is expected to increase by 40 per cent to RM15 billion. He was speaking at a press conference in conjunction with the Third Money Services Business Asia Pacific Conference 2017 (MAPC 2017) here, today. “The open competition in Malaysia’s remittance business makes it more transparent. Meanwhile, Ramasamy said the MAMSB is expected to launch its mobile application next month to educate customers on MSB services.

Source: New Strait Times September 05, 2017 06:45 UTC