SHAH ALAM, June 17 — The public has been advised to continue practising prudent financial management and to avoid making hasty investment decisions, despite expectations that the reopening of the Strait of Hormuz will have a positive impact on the global economy.
Bank Muamalat Malaysia Berhad chief economist Mohd Afzanizam Abdul Rashid said that people should remain informed about current economic, market, and financial developments to make better-informed decisions.
Access to accurate and up-to-date information is particularly important at a time when the global economy remains influenced by geopolitical uncertainties, even as tensions in the Middle East appear to be easing.
“Keeping abreast of developments in the economy, financial markets, and broader economic conditions is important because it helps in the decision-making process, particularly for investments. We do not want people to become overly emotional or simply follow rumours and hearsay.
“If we obtain accurate information, it helps us make sound decisions,” he told Media Selangor.
Afzanizam added that developments such as the reopening of the Strait of Hormuz, which could lower crude oil prices and improve market sentiment, should not prompt people to make rushed financial decisions.
Instead, he emphasised the importance of practising moderation in spending to ensure household finances remain stable.
“Secondly, always practise moderation in any financial decision. A balanced and moderate approach will help people enjoy a better quality of life,” Afzanizam said.
On Monday (June 15), Pakistan’s Prime Minister Shehbaz Sharif announced that the United States and Iran had reached a peace agreement following intensive negotiations.
Both parties had also declared an immediate and lasting end to military operations across all conflict zones, including Lebanon, with the official signing ceremony scheduled for June 19 in Switzerland.
