TRENDS DESCRIPTION IMPACT The banking industry is strongly affected by geopolitical developments, which have implications for our operating environment. Beyond the regulatory and policy changes and other direct impacts that might result from political changes, political volatility also influences customer and client needs and behaviour. On the domestic front, Malaysia saw a change of government in September, with a period of uncertainty leading-up to that change. On the international stage, the biggest development was the inauguration of the new Biden administration in the United States, which has led to a series of changes in economic and strategic policies that have had global ramifications. • In Malaysia, the change of government and the accompanying changes in various policies, including the easing of movement restrictions and continued p ump - p r i m i n g we r e supportive of economic growth , and the new government’s more clearly def ined policies to grow the green economy play to BIMB's strengths. • Globally, the economy and wider operating environment continued to be impacted by a range of issues including t he con t i nu i ng t r ade tensions between the US and China, the decision to restrict oil production by the OPEC+ group and rising tensions in Eastern Europe. Trend 6 GEOPOLITICS BANK I SLAM MALAYS IA BERHAD 52 OPERATING ENVIRONMENT & KEY MARKET TRENDS
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