Bank Negara takes over MBF

Bank Negara takes over MBF

KUALA LUMPUR (DPA): Malaysia's central bank, Bank Negara, said
Monday it has assumed control of the country's leading finance
company, MBF Finance Berhad, but stressed that the firm remained
"solvent."

In a statement, Bank Negara allayed fears of depositors by
saying the government was guaranteeing all deposits and would
meet all deposit obligations of MBF Finance.

The central bank said Malaysia's banking system remained
resilient although the financial sector had been affected by the
regional financial turmoil.

Bank Negara reassured Kewangan Bersatu's depositors that the
government guaranteed all its deposits.
cents, dealers said