KUCHING: A Memorandum of Understanding (MoU) has been signed by United Overseas Bank (Malaysia) Bhd (UOB Malaysia) with a leading women’s association, Stellavingze Global, to provide women with financial solutions that suit their lifestyle choices and financial priorities.
The collaboration seeks the Bank to help affluent Malaysian women to take control of their money and to help them grow their nest egg independently.
Based on the data from UOB Malaysia as quoted in Borneo Post, the number of affluent female customers with accounts in their own names has grown by more than 58 per cent since 2015.
Over the same period, the number of women opting to open joint accounts has grown at a slower rate of 33.2 per cent, suggesting that affluent female customers prefer to manage their finances independently.
Ronnie Lim, managing director and country head of personal financial services of UOB Malaysia, said as more women enter the workforce or set up businesses and begin earning their own money, they are increasingly taking control of their personal finances to safeguard their future security and that of their families.
The practical approach by the women to manage their own money enables female customers to make their own financial investment decisions.
He expressed his pleasure to work with like-minded partners such as Stellavingze Global to offer its members wealth management solutions designed to help affluent women achieve financial independence.