I got this comment from a reader for my May 9 posting on 'Bank Negara and its discrepancy'. Here is what Anak Malaya says:
Bank Negara's main concern is to keep the banking system and the bank operators in good shape. Why? To give the best impression to foreign investors that Malaysia is among the best place to put their money.
They dont care about how many people the bank simply made bankrupt by adding several charges to the principle loan (i.e adding interest and legal charges to accumulate it to the RM30,000 bankruptcy requirement), how many good working papers and collaterol were rejected by the local banks, how many customers were made to pay unnecessary extras for the loan they took, and how many dirty money the banks made out of the poors?
Yes, Bank Negara officials are like GODs as you mentioned. They couldnt care less about how many people in the middle and low income brackets suffered by the uncontrolled individual self-imposed rulings by the commercial banks. BNM got no human factor, right from the very top official to its lowest-paid staffs.
I wonder whether our Prime Minister and Finance Minister Datuk Seri Najib Tun Razak is aware of it or simply refused to take note of the discrepancy because of these Gods, or BNM was given a total autonomy to decide whose money and account it should freeze without investigation. This is another ISA for the banking sector.
I know a lot of friends and companies being clamped by the heartless officials of Bank Negara, just because they could not meet with their demand on 'how much can they offer' to release the money.
I am sad that amid Najib's political thrust to make the people requirements and needs as the top priority, Bank Negara's hardcore supervisory is dampening it. What is 'rakyat didahulukan' if none of their predicament is being heard or at least getting attention from the right authority? Even our court of law, upon its hearing on certain cases, would reduce a suppose-to-be death penalty to 20-year imprisonment or from 10 years jail to 2 years jail.
Why is BNM so strict in flexing it muscle on the hopefuls, I dont know. Laws are not meant to be broken but even a convict is given a second chance to redeem himself and start a new life to become a good and contributing citizen.
Those at Bank Negara are not the faultless lot. However, they always enjoy what they described as 'a success' should they are able to freeze someone's account, just because there was a report about it. No, they seldom investigate before becoming judges of their own court to impose such verdicts.
They will pin you down just on suspision of money laundering or collecting deposit illegally. I dont think they read what you write, bro. Even if they did, they dont feel anything as they are 'untouchables'. No laws can take them up or challenge their supremacy in making such decisions.
This is how the government of Barisan Nasional will lose control of its supporters. When you said thousands of SMIs, single mothers and the poors were affected by such rulings, I dont think BNM officials had given it the slightest thought to reconsider the case. I am also sure that those at the Ministry of Finance were (not) awakened by such plights.
Its a bizzare lynch! Your line about the officer who said 'kalau dulu awak naik basikal, saya nak pastikan awak naik basikal semula' was very inhuman, rude, churlish and overbearing. If I were the Finance Minister, I would show him/her the exit.
What is the loses that we have to incur if we relax the existing prosudures and rulings at the time when many of our rakyat are suffering from the adverse impacts of the economic uncertainty? In fact, the whole country would be grateful to the government should they are given the lifeline? Let them recuperate under the supervision of Bank Negara.
The idea to let them resume operation without releasing their money was another act of no-probity, meant to incommode the 200,000 people (in the case of Bulohmas) and maybe a few million more (in other cases). What's the point of shaking hands with them while their pants are down?
Please be more human in dealing with this cases. As none of the customers lodged any complaints of police report about how the business was being conducted, we should let them go on as long as they dont squeeze the people out of their capacity to survive. We lose nothing but will gain a lot of respect and appreciation.