SUSTAINABLE DEVELOPMENT GOALS: CAN THE GOALS BE ACHIEVED?

By Noralea Adzhar

The Sustainable Development Goals are the efforts and actions that need to be done in order to achieve a better and more sustainable future all everyone. They emphasize on global challenges humans are facing related to poverty, climate change, the environment, and peace. (The United Nations, n.d.)

Key transformations are required in achieving the Sustainable Development Goals set by the United Nations based on the major drivers of societal change, such as human capacity, consumption and production, decarbonisation, and the digital revolution. (European Commission, 2018)

Firstly, sustainable development is a societal rather than an environmental challenge. Substantial advances in human capacity are needed through improvements of education and healthcare resulting in higher income and better environmental-related decisions.

Secondly, by adopting a circular economy approach and reduce demands, much more could be done with fewer resources through responsible consumptions. Besides that, clean and affordable energy could be provided through renewables and electrification. (Cann , 2015)

Moreover, in order for the society to achieve access to nutritional food and clean water while protecting the biosphere and the oceans, more efficient and sustainable food systems are required. One way to do so, is by increasing agricultural productivity and reducing meat consumption.

Furthermore, the transformation of settlement patterns into smart cities such as decent housing, smart infrastructure and high connectivity will benefit the world population and the environment

In terms of digital revolution; science, technology, and innovation are needed to support sustainable development. It highly depends on the way the world will put the Information Technology revolution to use; either by continuing present trends or inverting them by asserting societal control.

In conclusion, the society needs to cooperate and a collective effort is required in order to ensure that the Sustainable Development Goals set by the United Nations could be achieved to secure a better living for all. Without a mutual understanding among the society, the world we live in today might be at risk in the foreseeable future.

References

Cann , O. (2015, September 23). How can the development goals be achieved? . Retrieved from World Economic Forum: Sustainable Development: https://www.weforum.org/agenda/2015/09/how-achievable-are-the-sustainable-development-goals/

European Commission. (2018, July 16). Six steps to achieving the Sustainable Development Goals . Retrieved from The European Commission’s science and knowledge service: https://ec.europa.eu/jrc/en/science-update/six-steps-achieving-sustainable-development-goals

The United Nations. (n.d.). About the Sustainable Development Goals . Retrieved from Sustainable Development Goals : https://www.un.org/sustainabledevelopment/sustainable-development-goals/

MODERN PROPAGANDA – IT’S IMPACT TOWARDS THE NATION AND PEOPLE

By Muhamad Shazwan Abdul Hamid

Propaganda; which has been used for ages started way back during the World War 1 and continuously being used until today. Propaganda is a type of communication in which its goal is to manipulate and influence the opinion of people to support some movement, organisation, government, cause or belief and it is likely be used in artwork, films, speeches and music (White, n.d.)

Dr Zollman said that “What we refer to as modern day propaganda was actually invented at the start of the 20^th century and actually, it relates more to business practices, to advertising, public relations and so on”. He added said that we need to look back throughout the history, the terminology of propaganda and how it has changed (Modern Day Propaganda, n.d.)

In today’s modern propaganda, all of it has been changed to a digital visuals such as digital posters like memes, video games and it has been spreading widely in social media, websites, and chat rooms internationally without being controlled by anyone (Hasic, 2019).

Take for example the propaganda done by the United States (U.S) in a game called “Call of Duty: Modern Warfare” where they portrayed Russia as the evil villain whom kills the people there, which is now called as Highway of Death between Kuwait and Iraq. “The Russians bombed it during the invasion, killing the people trying to escape. He’s the man responsible for creating the Highway of Death, and for using forced labor torture, summary executions and chemical weapons to punish people in the region”, (Hall, 2019). The truth is that the one who did all the invasion was none other than the Great Father which is the U.S. The game also portrayed a scene where a player who plays a role as a CIA officer shoots the enemies as well as Russian soldiers.

The game tried to portray Russia as a bad country internationally whereby all that they are good in doing is destroying and killing. The propaganda done can shift people’s view on Russia which is not good for their economy. Besides that, the games will subconsciously make other players from other countries to see Russia as a really bad country as most of the players are students. The games have been played by millions of people worldwide and it has sparked negative comments towards the Infinity Ward (the developer). Most of the Russian consumers who played the game commented that the game portrays their soldiers as a little more than faceless henchmen (Hall, 2019). Days after the release of Call of Duty : Modern Warfare, Russian consumers expressed their anger towards the game and created user reviews on Metacritic which led to a 2.5/10 score for the game.

In the modern day, people tend to look for information by using the internet medium which is the social media mainly through Twitter, Facebook and other news website such as BBC, Al Jazeera, The Washington Post and others. The problem with today’s information centre is that they are spreading the propaganda drastically and they called it as freedom of speech or freedom of expression. Instead of approving the Article 13, the government might as well create a law restricting a certain limit for the propaganda to be shared because sometimes the propaganda that is being shared contains more negative impact instead of positive impact towards a nation and also the people.

References

Hall, C. (2019, October 30). Call of Duty: Modern Warfare’s Highway of Death controversy, explained. Retrieved from Polygon: https://www.polygon.com/2019/10/30/20938550/call-of-duty-modern-warfare-highway-of-death-controversy

Hasic, A. (2019, March 12). Why propaganda is more dangerous in the digital age. Retrieved from The Washington Post: https://www.washingtonpost.com/outlook/2019/03/12/why-propaganda-is-more-dangerous-digital-age/

Modern Day Propaganda. (n.d.). Retrieved from Renegade: https://renegadeinc.com/modern-day-propaganda/

White, D. (n.d.). What is Propaganda? – Definition, Techniques, Types & Examples. Retrieved from Study.com: https://study.com/academy/lesson/what-is-propaganda-definition-techniques-types-examples.html

WHITE RABBIT CANDY HALAL STATUS

By Faranaz Fatini Binti Zaharan

Instinctual behaviour which exists in all business organizations has created a grapevine communication effect which is known to be the agent of spreading unwanted rumours in the form of a mix of truth and untruth information. According to Fine and Ellis (2013), rumours are defined as the expression of belief towards a certain event that is about to happen and has happened. It does somewhat evoke impactful means towards business organization in either a positive or negative way.

The issue regarding the White Rabbit candy halal speculation that went viral in the early 2019 had caught the attention of the public in Malaysia, Singapore and Brunei after the Americans introduced a White Rabbit candy flavoured ice-cream (May, 2019). In the Malaysian perspective, the issue was being discussed in respect to the halal status of this candy flavoured ice-cream as its candy product (i.e. White Rabbit candy) was also known to be one of Malaysian favourite childhood candies (Jayne, 2019).

The issue of the said discussion stemmed from the Malaysian public’s concern and doubt of the validity of the halal certification of the White Rabbit candy product. The government of Malaysia has also launched an investigation on this issue of concern after the Brunei’s Ministry of Religious Affairs (MoRA) has confirmed that the White Rabbit candy contains unwanted substance that are known to be haram (Astro Gempak, 2019). Originally, this candy was from Shanghai, China is known to be an iconic or essential sweet brand in China and also some other overseas countries, nearly eight decades since the year 1940s (Roxburgh, 2018). It was known to the general public consuming the sweets as the “Mickey Mouse sweets” as, apparently, on its wrappers an iconic Disney character was being displayed (Jayne, 2019).

The deputy minister in the Prime Minister’s Department, Fuiziah Salleh has released a statement in TV Al Hijrah announcing that the White Rabbit candy is certified as Haram (Nazari, 2019). The ministry has officially confirmed that the product contains both pork and cow protein through the investigation conducted by the Department of Islamic Development Malaysia (JAKIM) (Liew, 2019). The result of the investigation has brought sadness to not only the Muslim communities of Malaysia but also the Muslim communities of Brunei and Singapore as it has brought nostalgic memories of the candy itself. In an Instagram post posted by Rumah Gelato Frozen Treats (n.d.), the post has displayed grief in which it illustrated a White Rabbit wagon with parting goodbyes captions depicting the company has joined the bandwagon of the American White Rabbit flavoured ice cream of not selling its White Rabbit gelato ice cream product due to the negative viral issue concerning the American White Rabbit flavoured ice cream. Furthermore, similar post also made by Project Ice Cream (n.d.) through the medium of Instagram with a caption of immediate action to discontinue the White Rabbit ice cream production. This could provide the evidence on how food companies, especially the ice cream companies, had taken action in pulling the flavour of the White Rabbit in the market as a respect and acknowledgement to the sensitivities of the Muslims communities.

It could be seen that, the Muslim communities in Malaysia, Singapore and Brunei had used the platform of social media to sustain a regular and consistent flow of communication to the general public regarding the controversial issue of the halal status. This also connotes that the public and the countries’ respective Islamic organizations or authorities have shown interest in taking serious actions regarding this issue. The issue has brought the people together in knowing the brand better whilst at the same time taking precaution by carrying out research on product ingredients or contents prior to consumption (i.e. on any other similar products being introduced to the market). It has also brought the awareness that not all candies are certified halal and a research of ingredient content is needed to be made.

References:

Astro Gempak. (2019, September 13). Sah! Tidak halal, gula-gula White Rabbit ada gelatin babi. Astro Awani. Retrieved from http://www.astroawani.com/gaya-hidup/sah-tidak-halal-gula-gula-white-rabbit-ada-gelatin-babi-217431

Fine, G. A., & Ellis, B. (2013). The global grapevine: Why rumors of terrorism, immigration, and trade matter. Oxford University Press.

Jayne, T. (2019, February 27). The iconic White Rabbit candy was once taken off the shelf. Here’s why. SAYS. Retrieved from https://says.com/my/lifestyle/the-iconic-white-rabbit-candy-was-once-taken-off-the-shelf-here-s-why

Liew, E. (2019, September 12). White Rabbit Candy Officially NOT Halal, Contains Pig & Cow DNA. World of Buzz. Retrieved from https://www.worldofbuzz.com/white-rabbit-candy-officially-not-halal-contains-pig-cow-dna/

May, A. (2019). After lab test, White Rabbit candy found to be non-halal.Retrieved from https://hype.my/2019/167808/after-lab-test-white-rabbit-candy-found-to-be-non-halal/

Nazari, T. (2019, September 12). White Rabbit candy IS NOT halal; contains pig and cow DNA. The Rakyat Post. Retrieved from https://www.therakyatpost.com/2019/09/12/white-rabbit-candy-is-not-halal-contains-pig-and-cow-dna/?fbclid=IwAR0Z4hS_qEHpRxLKTeRAkaznetA-q0aHpBlJPuZRcXdB_t6-5XMp1wmf8gY

Project Ice Cream [@projecticecream.bn]. (n.d.). Posts [Instagram profile]. Retrieved May 12, 2019, from https://instagram.com/projecticecream.bn?igshid+1cnyq2ja5yfqn

Roxburgh, H. (2018, April 30). How China’s iconic White Rabbit sweets went from a Shanghai favourite to being known the world over. The Star. Retrieved from https://www.thestar.com.my/news/regional/2018/05/01/how-chinas-iconic-white-rabbit-sweets-went-from-a-shanghai-favourite-to-being-known-the-world-over RumahGelato Frozen Treats [@rumahgelato]. (n.d.). Posts [Instagram profile]. Retrieved May 17, 2019, from http://instagram.com/rumahgelato?igshid+atqfrs243jvo

THE RISE OF MALAYSIAN ANIMATION INDUSTRY

By Muhamad Saifullah Bin Roslan

The animation industry in Malaysia is still at an infant stage compared to the bigger countries such as the United States and Japan, which is the biggest in the production of animation with famous animation studios such as Pixar, Walt Disney, Dreamworks and Toei Animation. Philip (2019) stated that it is common knowledge that Los Angeles, Tokyo and Paris are among the top established animation hubs. As reported in “Global Animation, VFX & Games Industry: Strategies, Trends & Opportunities” (2019) the total value of global animation industry was US$ 259 billion in 2018 and is projected to reach US$ 270 billion by 2020.

The history of Malaysian animation industry goes back to 1978 when the first animation in Malaysia, a short film, Hikayat Sang Kancil was produced in by the National Film Department of Malaysia (FNM) and this short animation film successfully being screened in 1983. The film was accepted very well among the Malaysian audiences and this situation led to the appearances of more animated short films such as Sang Kancil & Monyet, Sang Kancil & Buaya, Arnab yang Sombong, Gagak yang Bijak and Singa yang Haloba according to Juhan & Ismail (2016).

The Malaysian government strives for the use of digital technology in the industrial sector in 1980 and this resulted in the producing of the first animated TV series, Usop Sontorian and in 1998, the first animated film, Silat Lagenda. Following the success, another animation series, Keluang Man started being aired on the television in 1998. Governmental push for the use of digital technology has resulted in the appearance of 31 animated TV series, and 3 animated feature films in Malaysia (Juhan & Ismail, 2016).

Animation sector in Malaysia starts to enlarge and portray substantial growth during the ruling of the fourth Prime Minister of Malaysia, Tun Dr. Mahathir Mohamad, Suriawati (2012) stated that, due to his excellent premiership caused the Malaysian government to urge for digital technology to be utilized to a maximum level in order to encourage the development of local contents to overcome the invasion of foreign animation that contain of elements which are not suitable for Malaysian cultural lifestyle (Hassan, 2009; Azahar & Russlan, 2010; Kamarudin & Sajilan, 2013).

Due to the emergence of 3D animation, in 2007, a new TV series, ‘Upin & Ipin’ produced by Le’s Copaques Production emerge in the animation scene in Malaysia. The series obtain a lot of popularity within the Malaysian community. The success of this TV series led to the first 3D animated film by Les Copaque Production in 2009, ‘Upin & Ipin, Geng: Penggembaraan Bermula’. Finas (2011) reported that this film became the most successful Malaysian animated film at that time with box-office returns of RM6.2 million.

Following the success of Upin & Ipin, in 2011, another 3D animated series was aired on local TV Station. Boboiboy by Animonsta Production was aired in March 2011. The first film, ‘Boboiboy: The Movie’ was released in March 2016, and it continues on with another series, ‘BoboiBoy Galaxy’ started from November 2016 to July 2018. Only after one season of the new series, another film that is the second film, BoboiBoy Movie 2 was released simultaneously in 4 countries, including Malaysia, Indonesia, Brunei, and Singapore on 8 August 2019. The Vietnamese dub version of the film was released in Vietnam on 30 August 2019. BoboiBoy Movie 2 is currently the highest-grossing animated film in Malaysia that has ever been recorded with box-office return of RM29.60 million (US$7.3 million).

According to Malaysia Digital Economy Corporation (MDEC), the Malaysian animation industry was worth RM 567.85 million (US$ 187.7 million). There are now over 100 homegrown studios that have produced more than 20 original IPs and seen their work rate to 120+ countries, with an export value of RM132 million (over $32.2 million). With these statistics, it can be proven that the animation industry in Malaysia is developing and has started to penetrate the global market and compete with international animation.

References

Aiza, M. Z. (2019). Championing Malaysia’s Digital Economy: A Case Study. Kuala Lumpur: Malaysia Digital Economy Corporation (MDEC).

Digital Vector. (2019). Global Animation, VFX & Games Industry: Strategies, Trends & Opportunities. Animation, VFX & Games Market Research.

FINAS. (2019). Collection and Admission for All Local and Foreign Films in Cinema: 2012 – 2018. Retrieved from National Film Development Corporation Malaysia FINAS : https://www.finas.gov.my/en/industry-information/

Juhan, M. S., & Ismail, N. (2016). Character Design towards Narrative Believability of Boboiboy in the Malaysian Animated Feature Film Boboiboy: The Movie. Academic Research and Solutions.

Kamarudin, H. S., & Sajilan, S. (2013). Critical success factors of technopreneurship in the creative industries: A study of animation ventures. Review of Integrative Business and Economics Research, 2(1), 1.

Les’ Copaque. (2019). Malaysia: Animating an International Brand. Retrieved from ASEAN Intellectual Property Portal: https://www.aseanip.org/Portals/0/Case%20Studies/CS%20Malaysia.pdf

Malay Mail. (2019, August 13). MalayMail. Retrieved from MalayMail: https://www.malaymail.com/news/showbiz/2019/08/13/boboiboy-movie-2-collects-rm9.9m-after-just-five-days/1780290

MarketsandMarkets. (2011, November). Global Animation & Gaming Market by Application, Geopgraphy, Market Trends and Forecast (2011-2016). Retrieved from Markets and Markets: https://www.marketsandmarkets.com/Market-Reports/animation-gaming-market-514.html

Nukman, R. (2019, November 21). Strategis in Producing BoboiBoy Galaxy the Movie 2. (R. Saiful, Interviewer)

Philip, M. (2019, March 17). Why Malaysia is the Asian Animation Market to Watch. Retrieved from Toon Boom Bring Stories to Life: https://blog.toonboom.com/why-malaysia-is-the-asian-animation-market-to-watch

INSIGHT OF DR MAHATHIR MOHAMAD’S SPEECH AT THE 74TH UNITED NATIONS GENERAL ASSEMBLY

By Syahnaz binti Khariul Anwar

The General Debate of the 74^th session of the United Nation’s General Assembly (UNGA) was held in New York from 24^th to 30^th September 2019 (‘UN General Assembly’, 2019). One of the world leaders that took part in delivering the country’s statement was Tun Dr Mahathir Mohamad, Prime Minister of Malaysia. It has been his second time standing before the international eyes since his return to the political arena in 2018, and his speech continued from where he left in the previous UNGA’s session. Overall, his speech during the 74^th UNGA session touched on the economy, social and political spheres which comprised of Veto Power, Israel – The Origin of Terrorism, Climate Change and Catastrophise, Trade, Sanctions and Capitalism, and the way for United Nation to move forward (“Speech text”, 2019).

In his previous speech during the 73^rd UNGA session, he began with the New Malaysia empowerment of democracy that embodies the spirit of the year’s theme of “Making the United Nations Relevant to All People: Global Leadership and Shared Responsibilities for Peaceful, Equitable and Sustainable Societies”. He continued with the trade war between powerful countries, new social values that erode nations’ stability and terrorism within the political sphere, specifically mentioning of the sufferings of the Palestine and Rakhine people. He touched briefly on environmentally sustainable development by mentioning on the national’s oil palm sustainable production before ending with a high note on calling the reformation of the veto power within the UN organization (“Speech text” 2018).

This year, the theme of the General Assembly is “Galvanizing multilateral efforts for poverty eradication, quality education, climate action and inclusion”, and Tun Dr Mahathir Mohamad wasted no time in calling once again for the reformation of the veto power which is seen as a treat to the human right’s principle as well as an erosion to the global democracy. Again, he condemned the occupancy of the Israelis on the Palestine’s land due to the unlawfulness as well as the devious engineering hatred towards Muslim and Islam of terrorism globally. Citing again the Rakhine’s massacre in Myanmar, the invasion and occupancy of Jammu and Kashmir. He spoke of the climate change and trade, sanctions and capitalism. Although the UN has contributed fairly to the health, education and social security improvement, Tun Dr Mahathir Mohamad believes that the UN should play a much more active role in re-establishing failed governments. Again, as his previous speech, he urged for UN to move forward by reinstating of the original purpose of the UN (New Straits Times, September 28,2019).

Drawing similarities between both speeches, Tun Dr Mahathir Mohamad had focused on the importance of strengthening democracy and democratizing the international system (Tharoor, 2018). As the year before, his speech during the 74^th UNGA once again drew the international attention on the various issues brought up, from the sharp criticism of the UN failures in preventing wars ((‘UN General Assembly’, 2019).; ‘Malaysian PM’, 2019) to the on-going conflict in Jammu and Kashmir (‘Malaysain PM says”, 2019; ‘Malaysian PM raises”, 2019; ‘Malaysian UN Speech’ 2019). However, these criticisms did not go without any backlash from the global public. The silence on the mistreatment of the Uyghurs in China is seen as a move of not wanting to upset China, Malaysia’s biggest trading partner (‘Silence on Urghur’, 2019) with exports worth RM13.3 billion (DoSM, 2019). Unlike Israel and Myanmar whom Malaysia has no direct trading ties with the former and bilateral trade volume of only RM4.4 billion in 2018 with the later, Dr Mahathir has no reservation in using strong words against the occupation of Palestine and the genocide of the Rohingya people. Interestingly, Tun Dr Mahathir Mohamad did not seem to mind in upsetting India, one of Malaysia’s biggest oil palm exporters by raising the conflict issue in Jammu and Kashmir. Having to defend himself following the trending #BoycottMalaysia backlash among the Indians, Dr Mahathir said it was in line with Malaysia’s policy of resolving conflicts with non-violence approach.

Being Asia’s most senior statesman, Mahathir’s wisdom and knowledge are sought by world leaders. Yet, despite Dr Mahathir’s fiery speech on championing human rights at the global stage, much is left to ponder of the UN human rights instruments that are yet to be ratified by Malaysia, having only ratified 3 out of 9 core international human rights treaties (OHCHR, 2019). Little was touched on the theme’s quality education, whereas climate action was touched on the surface, in contrast with the promotion of Malaysia’s oil palm industry – an industry that is increasingly shunned by Western countries due to its environmental damage of deforestation. Maybe it’s time for Malaysia to place greater prioritization on the country’s own national policies in responding to globalization challenges, and followed by offering a new fresh insight to the world in achieving a better and more sustainable future for all.

REFERENCES

Aljazeera. (2019, October 1). UN General Assembly 2019: All the latest updates. Aljazeera. Retrieved from https://www.aljazeera.com/news/2019/09/hold-general-assembly-2019-latest-updates-190916224113531.html

DoSM. (2019). Malaysia External Trade Statistics July 2019. Department of Statistics Malaysia. Retrieved from https://www.dosm.gov.my/v1/index.php?r=column/cthemeByCat&cat=139&bul_id=cU1NaUVUMGpnWkhHeXFWU3pxWDBuQT09&menu_id=azJjRWpYL0VBYU90TVhpclByWjdMQT09

Economic Times. (2019, October 1). Malaysian PM says India ‘invaded, occupied’ Kashmir at UNGA. Economic Times. Retrieved from https://economictimes.indiatimes.com/news/international/world-news/malaysian-pm-says-india-invaded-occupied-kashmir-at-unga/articleshow/71362388.cms?from=mdr

Malay Mail. (2019, July 29). Booming opportunities await Malaysian investors in Myanmar. Malay Mail. Retrieved from https://www.malaymail.com/news/money/2019/07/29/booming-opportunities-await-malaysian-investors-in-myanmar/1775796

Malaysiakini. (2019, September 28). Silence on Uyghurs because China is powerful- Mahathir. Malaysiakini. Retrievedfrom https://www.malaysiakini.com/news/493663

New Straits Times. (2018, September 29). [Speech Text] Dr Mahathir at 73^rd UN General Assembly. New Straits Times. Retrieved from https://www.nst.com.my/news/nation/2018/09/415941/speech-text-dr-mahathir-73rd-un-general-assembly

New Straits Times. (2019, September 28). Dr M’s full speech text at the 74^th UNGA. New Straits Times. Retrieved from https://www.nst.com.my/news/nation/2019/09/525269/dr-ms-full-speech-text-74th-unga

OHCHR. (2019). Ratification Status for Malaysia. Office of the High Commissioner. United Nations Human Rights. Retrieved from https:// https://tbinternet.ohchr.org/_layouts/15/TreatyBodyExternal/Treaty.aspx?CountryID=105&Lang=EN

South China Morning Post. (2018, September 28). Malaysia PM Mahathir Mohamad laments world’s ‘pain’ in first speech to UN in 15 years. South China Morning Post. Retrieved from https://www.scmp.com/news/asia/diplomacy/article/2166286/malaysia-pm-mahathir-mohamad-laments-worlds-pain-first-speech-un

Tharoor, I. (2018, September 28). The World According to Asia’s Most Senior Statesman. Washington Post. Retrieved from https://www.washingtonpost.com/world/2018/09/28/worlds-most-senior-statesman-returns-center-stage/

The Asian Age. (2019, September 30). Malaysian PM raises Kashmir at UN General Assembly, alleges India ‘invaded, occupied’ it. The Asian Age. Retrieved from https://www.asianage.com/world/americas/300919/malaysian-pm-raises-kashmir-at-un-general-assembly-alleges-india-invaded-occupied-it.html

Times of India. (2019, September 29). Malaysian PM: UN has failed to prevent wars. Times of India. Retrieved from https://timesofindia.indiatimes.com/world/rest-of-world/malaysia-pm-un-has-failed-to-prevent-wars/articleshow/71349313.cms

Yahoo! News. (2019, October 1). Mahathir’s UN Speech on Jammu and Kashmir causes #BoycottMalaysia Twitter trend. Yahoo! News. Retrieved from https://malaysia.news.yahoo.com/mahathir-un-speech-jammu-kashmir-101507515.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAKU08wiHksBdJZ9z5rurLqfT0OeRnl-vHJ0ip4AqUt2Fy4Yws4ECPcWoGLDIG7bTDZv55EatVNyJY2DA5jiCE30pSh7IhGPVFhHThpA2sjDuM77s6koI5- rgeVRmb8jk8XOb1VeysOuFEv71Cyyo_ASQ7UuWI2YOxNkwrtT0s9q_

Future banks in Malaysia

by Muhammad Hasif Bin Che Kar

Age can be just a number for some, but for this research the age gap different could mean everything. As generations grow, we can see baby boomers that are born between 1946 to 1964, which post-cold war era, very optimistic about the future. During this time, they have a good economic opportunity, (Wj Schoroer, 2004). While the millennials or gen Y were born between 1974-1994, this two-age gap has different timeline over the years. In terms of technology, these two generation has different ways of accepting and use technology.

The millennials are ‘media-conscious’ of everything that’s happening in the world, in their tip of their fingers. Moreover, there are known as digital natives. Facetime and social media play vital role in their communicating channel. While generations before that have the traditional media ritual, whereby newspaper reports play bigger role than reporting. For generations before the millennials, newspaper act as not only reporting but also news validating. The senior generations find it difficult to accept changes that have been made rapidly, (Dlodlo & Mafini, 2013).

For generation X, they are no specific years on what year they were born, but they are also known as digital immigrants. They form of communications are personal computers, and SMS and email play significant role in their life (Linnes & Metcalf, 2017). They are the generations after baby boomers and exposed to technology early in their life. They have exposed to technology whether by their workplace or devices.

In contrast these generation have evolved, from normal phone to smart phones, to social media. next, we are looking at sectors that also involved heavily with technology nowadays, and what has it compare to generations before.

Bank is financial institution that provide service such as safeguard money, accepting deposits, and provide loans. These types of service are few objectives why the bank is important. Together with the evolution of time and technology, banking sector has also evolved to provide facilities, payments service and insurance, (Shod & Ganga, 2016). Throughout the years, banking has been segmented to commercial banking, investment banking and housing finance. These separations were maintained by various forms of official regulation such as exchange control and lending constraints, (Bowen, Hoggarth, & Pain, 2016).

The increasing tempo of economic activity lead to tremendous increase in volume and complexity of banking activity. Banks have now come out to fulfill national responsibilities through catering to the needs of agricultures, industrialist, traders and all to all other section of the society. Transferring money to overseas, or payments to international account have to go through banking activity which expand the role of banking for more than just daily banking activity, (Kwak, Lee, Park, & Moon, 2010).

The year of 2000 see the new dawn of banking sector. Fintech or financial Technology has been created and slowly taken over the use of manual banking to online banking. Companies such as Ali Baba and Tencent has grown to ease the china market banking transaction. Many of the develop countries and developing countries has offer similar platform in financial sectors, these countries are embracing FinTech waves as they come in plain sight (Bowen, Hoggarth, & Pain, 2016).

References

Bowen, A., Hoggarth, G., & Pain, D. (2016). The recent evolution of the UK banking industry and some implications for financial stability. business and banking faculty, 22-45.

DELOITTE. (2017). EMBRACING A DIGITAL FUTURE. NEW YORK: DELOITTE ANALYSIS.

Dlodlo, N., & Mafini, C. (2013). The relationship between technology acceptance and frequecy or mobile commerce use amongst Generation Y consumers. Acta commercii 13(1), 8 pages.

Kwak, H., Lee, C., Park, H., & Moon, S. (2010). WHAT IS TWIITER, A SOCIAL NETWORK OR A NEWS MEDIA? DEPARTMENT OF COMPUTER SCIENCE, 26-30.

Linnes, C., & Metcalf, B. (2017). iGeneration and their acceptance of technology. International Journal of management and information system, Volume 21, Number 2.

Shod, & Ganga. (2016). Introduction of Indian Banking System. Shod and gangga journal banking sector, 1-3.

Wj Schoroer. (2004, february 4). social marketing. Retrieved from Generations X,Y,Z and the others: http://socialmarketing.org/archives/generations-xy-z-and-the-others/