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BUDGET 2026 strikes a necessary balance between stimulating economic growth through strategic investments and ensuring social welfare for vulnerable communities — all while maintaining strong fiscal discipline, according to Maybank Group President and Chief Executive Officer, Datuk Seri Khairussaleh Ramli.
Describing the government’s latest financial blueprint as “comprehensive,” Khairussaleh said the budget addresses the complexities of the current global economic climate, including trade tensions and cost-of-living pressures, while also positioning Malaysia to seize opportunities under the 13th Malaysia Plan.
“Budget 2026 was tabled at a time when Malaysia is facing global challenges including trade tensions, tariff pressures, rising domestic living costs, and new momentum under the 13th Malaysia Plan,” he said in a statement.
Khairussaleh, who also chairs the Association of Banks in Malaysia, commended the government for remaining aligned with the medium-term targets set out in the Fiscal Responsibility Act, including the aim to reduce the budget deficit to 3.0 per cent of GDP.
He welcomed the expansion of tax reliefs for medical insurance and takaful as part of efforts to ease healthcare-related inflation, along with continued investment in public infrastructure, education, and housing.
“The budget also prioritises support for marginalised communities and addresses issues of public concern such as healthcare, cost of living, and education,” he noted.
On economic development, Khairussaleh said the banking industry supports the government’s ambition to elevate ASEAN’s high-value economy by investing in next-generation sectors including semiconductors, energy transition, and the digital industry.
He praised the budget’s emphasis on inclusive growth, especially the government’s continued support for small and medium enterprises (SMEs) and entrepreneurship.
“From a financing perspective, we are committed to partnering with Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) in various new initiatives, including export-based programmes,” he said.
Khairussaleh also highlighted Maybank’s strong support for cross-border economic cooperation, particularly the Johor-Singapore Special Economic Zone (JS-SEZ).
“As an early step, Maybank has mobilised RM8 billion in financing and investment in the JS-SEZ and has already helped establish two single family offices (SFOs), with 11 more in the pipeline,” he revealed.
He further welcomed the government’s continued ambition to position Malaysia as a global leader in Islamic economics — a move that aligns closely with Maybank’s efforts to advance value-based banking and inclusive, ethical finance solutions.
On sustainability, Khairussaleh noted that Budget 2026 reinforces Malaysia’s net-zero ambitions and includes mechanisms to address carbon emissions.
“Maybank will continue to provide sustainable financial solutions to support climate resilience and decarbonisation efforts, anchored in our value-based financial services,” he said. - October 12, 2025