Anwar can’t expect banks to be charitable

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Opposition leader Anwar Ibrahim let loose last week – if that’s the word – when he, inter alia, askedthe government to “call bank owners and say you (the banks) need to reduce profits, reduce it but not wipe it out. What is reducing RM8 billion to RM6 billion.”To banks, and likeminded financial institutions, domestic or foreign: a heck of a lot. Anwar, yet again, is being naïve, desperate, and populist.Banks’ responses will be for Anwar to take a hike. Certainly not, they’ll say, in Malaysia’s current business environment, and not at this juncture of the economic cycle (of a worsening recession). Without overstating it, the cycle could become longer.For context, the present movement control order (MCO) has already been extended once. Associated with it is Prime Minister Muhyiddin Yassin’s wish for an “emergency”. Underlying both is the raw fact that the Covid pandemic in Malay…