This book describes and analyses the financial system in Malaya and Singapore as it had developed up to 1967, revealing, in particular, the transition from external domination to financial independence which has taken place in the last decade. While the work concentrates on the period after World War II, it also gives a complete account of historical events concerning the evolution of the system. This is the first up-to-date and comprehensive discussion of the financial problems of the Malayan region. Very little has been written on the subject since 1960 and earlier publications relate mainly to currency history and to the establishment of the Central Bank. The book deals thoroughly with currency arrangements, the commercial banking system, the Central Bank, financial enterprises other than banks, money and securities markets, and monetary and financial policy. It provides a full account of the many significant monetary and financial developments of the last decade and will be essential reading for students of economics in Malaysia and Singapore and for bankers and financiers in, and dealing with, that area. It will also be of great value to readers with interests in the fields of comparative banking and finance, economic development, and Malayan studies.