1pc of GDP savings seen from Internet banking
KUALA LUMPUR: Internet banking has the potential to generate savings of about one per cent of gross domestic product (GDP) annually, said Deputy Finance MinisterDatuk Ahmad Maslan.
As at June this year, there were 14.6 million subscribers of Internet banking in the country, comprising 14.3 million individuals and 300,000 corporate subscribers, he said.
These translate into a 49.1 per cent Internet banking penetration rate to Malaysia population.
"We can say that while Internet banking in Malaysia has seen great progress, mobile banking is at the same time showing the potential to grow further," Ahmad said at the launch of the 5th edition of BankTech Asia (2013) Congress exhibition and conference, here, yesterday.