MP SPEAKS | I refer to the RM1 Automated Teller Machine (ATM) interbank transaction withdrawal fee and its impact on Malaysians, especially low-income earners.

Monopolies and cartels, in any form, can create an environment where consumers face higher costs, fewer choices, and a slower pace of innovation.

These factors ultimately undermine the quality of financial services and can lead to inefficiencies in the market that harm consumers. Encouraging competition and fostering a more diversified financial landscape would benefit consumers by promoting fair pricing, innovation, and improved service offerings.

At the prelude to electronic banking, years ago, choice was...