Page 139 - Special Topic Session (STS) - Volume 3

STS523 Shazura Z. A. et al.
better insight and understanding on the behaviour of the property market as
well as to gauge where the demand lies, particularly by the property location
and type for greater clarity. This enables policy formulation for a balanced
property supply and demand as well as promoting affordable housing. Some
of these analyses were published in the Bank’s Quarterly Bulletin, which
includes the volume and value of residential property transaction as well as
the vacancy and rental rates of office space and shopping complexes. The Bank
has also provided analysis on the affordability of property in the Financial
Stability and Payment Systems Report published annually.
The Bank envisages for all the micro-level and large-volume administrative
data, including NAPIC data and together with other sources of Big Data, to be
stored and integrated in the Big Data Analytics Platform (BDAP), to facilitate
data science and analytics initiatives in the Bank. This is to enable the larger
dataset to build better, more accurate models and analysis for the Bank to be
a leading evidence-based decision making institution with advanced data
capabilities across all functions of the Bank.
Despite the value-add of this arrangement which facilitates comprehensive
and timely property-related publications and analysis by the Bank, NAPIC
requires three months after the end of the reporting quarter for data quality
process to be conducted prior to data sharing, in line with NAPIC’s mission to
always provide comprehensive, quality and up-to-date property data for its
stakeholders. However, there is no major implication since the Bank is still able
to meet the property-related data needs.

3. Discussion and Conclusion
In a nutshell, administrative data sourced from government bodies and
other institutions has proven valuable in enriching the Bank’s operations
through insightful implementation. Administrative data from JPN enables the
insurance/takaful companies to pro-actively reach out to the beneficiaries of
deceased policy/certificate holders, which increases the level of trust and
confidence in the safety and soundness of the insurance and takaful industry,
thus contributing towards a progressive financial sector. Besides, the use of
administrative data from JPN improves the quality of industry credit
assessment and risk modelling through timely and informed lending decisions,
which lead to sustainable economy aiming towards declined loan defaults
contributed by household indebtedness. JPN records also facilitate accurate
assessment on financial inclusion level in Malaysia, which enables
implementation of focused strategies in promoting financial inclusion as
mandated to the Bank. Furthermore, property-related administrative data
sourced from NAPIC allows policy formulation for a balanced property supply
and demand as well as promoting affordable housing.

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