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Bank Negara to announce solutions to rising insurance premiums soon: Fahmi | Scoop
Concerns over potential 40% to 70% hikes in medical insurance premiums has prompted the government and Bank Negara to intervene, and an announcement is due soon, Communications Minister Fahmi Fadzil has said. - Pixabay pic, December 13, 2024
News

Bank Negara to announce solutions to rising insurance premiums soon: Fahmi

Cabinet was briefed that the central bank needs a bit more time to finalise issues

Bernama
Updated
7:15 PM MYT

 

PUTRAJAYA — Bank Negara Malaysia (BNM) will announce a solution to the issue of rising medical insurance premium rates soon, said government spokesman Fahmi Fadzil.

Fahmi, also the Communications Minister, said Prime Minister Datuk Seri Anwar Ibrahim told today’s Cabinet meeting that the central bank needs a little more time before making an announcement.

“The prime minister has dealt with this matter during the question and answer session on Tuesday (Dec 10) that BNM will evaluate, discuss and, finally, announce the decision on the issue of insurance rates.

“Today, the prime minister told the Cabinet, there is a need for a little more time, but not too long (before) BNM makes an announcement,” he said at the weekly media conference of the Communications Minister here today.

At the Minister’s Question Time in the Dewan Rakyat on Tuesday, Anwar said the BNM and Ministry of Health (MOH) will establish controls to ensure that medical insurance premiums will not rise too steeply to the extent of burdening the people.

Yesterday, during the winding-up session for the debate on the Supply Bill (Budget) 2025 at the policy stage for his ministry in the Dewan Negara, Finance Minister II Datuk Seri Amir Hamzah Azizan said that BNM will announce further details on interim measures to address the rise in insurance premiums next week.

As such, Fahmi is confident that the upcoming announcement will provide relief to all Malaysians, who hope that the issue can be tackled in the best possible way. — December 13, 2024

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