WIDESPREAD public participation in national economic activities through the use of the financial system as an intermediary plays an important role in socioeconomic development, according to Bank Negara Malaysia deputy governor Adnan Zaylani Mohamad Zahid.

He said the use of financial products and services, including deposit accounts, hire purchase and business loans, and insurance, by individuals and businesses in the formal financial system enables the public to manage their finances wisely and plan for the future in a more sustainable and orderly manner.