Malaysia’s monetary sector is stable despite the government’s fiscal challenges and issues which resulted from the excesses of the previous government, said Finance Minister Lim Guan Eng.

He said Malaysia’s banking sector was well-capitalised with low numbers of non-performing loans while the capital market remained solid with stable capital and high liquidity.

"We wish to state our appreciation to the Securities Commission Malaysia (SC) for contributing towards a stable capital market through their framework and regulatory agenda," he told  Malaysia News Agency Bernama, after launching the Institute of Corporate Directors Malaysia (ICDM) today.

Then ICDM is a dedicated body established by the SC to enhance the professionalism and effectiveness of corporate directors in the country with the objective to promote excellence, integrity and the highest levels of skills and professional competence.

Lim said the institute was a step forward to elevate performance, accountability, transparency and hopefully, a more innovative and diverse board of directors.