KUALA LUMPUR, May 14 (Bernama) -- Several members of the Dewan Negara today voiced their support towards the policy of Malayan Banking Bhd (Maybank) in requiring legal firms to have 50 per cent Bumiputera interest for them to become its panel of solicitors.
The bank should continue with the policy and not to bow to pressures from any quarters who were unhappy with it, they said.
Senator Datuk Syed Ali Alhabshee described the policy as positive to narrow the gap between the Bumiputeras and non-Bumiputeras in terms of the number of legal firms that were made panels of solicitors in the banking sector.
"I want to ask Hong Leong Bank and Public Bank, how many bumiputera legal firms have they appointed as their panels," he said when debating the motion of thanks for the royal address.
He said the decision by Maybank to impose the 50 per cent requirement was appropriate to enhance Bumiputera interests in legal firms involved in the banking sector.
He said that all the while, it was difficult for Bumiputera legal firms to get contracts or deal with other banks and Maybank's move should not be regarded as racist.
Senator Datuk Azizah Abd Samad also supported the move and described it as the bank's social obligation to the Bumiputeras.
"The decision was made by the management of Maybank without pressure from any quarters and as such should be respected and not questioned by any quarters at any forum," she said.
On May 4, Maybank issued a statement that any legal firm wishing to do business with the group must have to have three partners, including a Bumiputera with 50 per cent equity in the company.
The Dewan Negara sits again tomorrow.
-- BERNAMA
The bank should continue with the policy and not to bow to pressures from any quarters who were unhappy with it, they said.
Senator Datuk Syed Ali Alhabshee described the policy as positive to narrow the gap between the Bumiputeras and non-Bumiputeras in terms of the number of legal firms that were made panels of solicitors in the banking sector.
"I want to ask Hong Leong Bank and Public Bank, how many bumiputera legal firms have they appointed as their panels," he said when debating the motion of thanks for the royal address.
He said the decision by Maybank to impose the 50 per cent requirement was appropriate to enhance Bumiputera interests in legal firms involved in the banking sector.
He said that all the while, it was difficult for Bumiputera legal firms to get contracts or deal with other banks and Maybank's move should not be regarded as racist.
Senator Datuk Azizah Abd Samad also supported the move and described it as the bank's social obligation to the Bumiputeras.
"The decision was made by the management of Maybank without pressure from any quarters and as such should be respected and not questioned by any quarters at any forum," she said.
On May 4, Maybank issued a statement that any legal firm wishing to do business with the group must have to have three partners, including a Bumiputera with 50 per cent equity in the company.
The Dewan Negara sits again tomorrow.
-- BERNAMA
