Kuala Lumpur: The Finance Ministry has been urged to introduce stricter guidelines to ensure that bank transactions, especially in shipping, are transparent. Senator Datuk Sivaraj Chandran brought up the suggestion after he received complaints from a local shipping company, Maritime Network Sdn Bhd, about several alleged suspicious financial transactions.

According to BERNAMA News Agency, Senator Chandran emphasized the importance of maintaining belief in the national financial system for economic stability and the sustainability of any industry. He urged authorities to tighten monitoring and boost transparency in the banking system to mitigate risks that could affect investor confidence and industry players. This was highlighted during his debate on the motion of thanks on the Royal Address at Dewan Negara.

Previously, Bernama reported on Maritime Network Sdn Bhd’s chief executive officer, Datuk Seri Jeyenderan Ramasamy, who provided advice on financial transactions. He urged other shipping agencies to conduct detailed research before engaging in business dealings to reduce the risk of involvement in criminal activities.