A week ago Bank Negara sparked a public debate by introducing the concept of “living wage”, where the conversation has been largely dominated by the question of a “minimum wage”. Bank Negara defines a living wage as that which is necessary for an individual or a household to participate in society, with opportunities for personal and family development and freedom over severe financial stress. In its 2017 Annual Report, the central bank said based on a study in 2016, the living wage in Kuala Lumpur ranges from RM2,700 a month for an individual, to RM6,500 monthly for a couple with two children.

Presented by: Sharaad Kuttan

This and more than 60,000 other podcasts in your hand. Download the all new BFM mobile app.

Categories: 

Tags:  Bank Negara,  Living Wage,  Minimum Wage,  Standard of Living