The drive for excellence in banking is a matter of priority, given the well-being of this sector, an integral part of the growth and development of the Malaysian economy. The latest advances in technology and globalization, along with the liberalization of the financial sector, have created many challenges for the banking sector in Malaysia, where the Malaysian government has been pushed to progressively liberalize the banking sector. Otherwise, the country's economy will jeopardize its participation in the global economy. Therefore, to catch up, the Financial Sector Masterplan (FSMP) was created to design a new, more competitive and market-driven financial landscape. The banking sector plays an important role in developing a progressive and inclusive financial sector which involves preserving the fundamental foundations of financial stability to ensure the effectiveness and efficiency of financial intermediaries leading to economic growth and development in Malaysia. The banking sector is able to promote monetary and financial stability conducive to the sustainable growth of the country