Financial Services
Sectors

EPP 7: Spurring the Growth of the Nascent Wealth Management Industry

  • GNI by 2020 (mil)
    RM2,096
  • Projected jobs by 2020
    6,147

This EPP intends to increase assets under management (AuM) in the country’s wealth management industry to RM350 billion by 2020 by increasing the range of wealth management products. Efforts will also be undertaken to attract more wealth managers to the market and create a competitive edge in Islamic wealth management. In view of this, regulators have implemented gradual liberalisation of wealth management products while the Securities Commission (SC) has fully liberalised the Islamic fund management industry.

Highlights

  • The number of high net worth individuals (HNWI) in Malaysia rose 6.6% to 65,800 in 2014, with their total wealth expanding 9% to RM1.4 trillion.
2015/08/06
Status:
Operational
Economic Transformation Programme
The ETP Transformation Story
The Economic Transformation Programme (ETP) is a comprehensive effort that will transform Malaysia into a high-income nation by 2020.
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