This aims to strengthen the resilience of the financial sector and to prepare the local industry to withstand the global competitive challenges brought about by the liberalisation of world trade. Unlike banking institution, Bank Negara and SC has not set any firm dateline for insurance and stockbroking companies to merge. Over the medium term, the domestic market is likely to see a convergence of distribution channels rather than a convergence of financial services. The current regulatory structure prohibits financial institutions from expanding into other financial services unless they have the relevant licences. Merchant banks, and Discount houses.
Commercial banks are by far the largest players in the banking market.
The domestic banking sector is dominated by a few large banks. The five largest command nearly half the total domestic banking assets. Banking Services Provided by Banking Institutions. Merchant banks 12 - Corporate advisory, wholesale financing, securities underwriting and portfolio management. Private sector funds are either issued in the form of equity or private debt securities.