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Economy of Kuala Lumpur


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1,324) in 1999, up from RM3,371 (USD 1,087) four years prior, making it 66% higher than the national average. In terms of household income distribution, 23.5% of households in the city earned more than RM5,000 (USD 1,613) per month compared to 9.8% for the entire country, while 8.1% earned less than RM1,000 (USD 323) a month.

The large service sector is evident in the number of local and foreign banks and insurance companies operating in the city. Kuala Lumpur is poised to become the global Islamic Financing hub with an increasing number of financial institutions providing Islamic Financing and the strong presence of Gulf's financial institutions such as the world's largest Islamic bank, Al-Rajhi Bank and Kuwait Finance House. Apart from that, the Dow Jones & Company is keen to work with Bursa Malaysia to set up Islamic Exchange Trade Funds (ETFs), which would help raise Malaysia's profile in the Gulf. The city has a large number of foreign corporations and is also host to many multi national companies’ regional offices or support centres, particularly for finance and accounting, and information technology functions. Most of the countries’ largest companies have their headquarters based here and as of December 2007 and excluding Petronas, there are 14 companies that are listed in Forbes 2000 based in Kuala Lumpur.

Other important economic activities in the city are education and health services. Kuala Lumpur also has advantages stemming from the high concentration of educational institutions located within its boundaries, providing a wide range of courses. There are numerous public and private medical specialist centres and hospitals in the city which offer general health services and a wide range of specialist surgery and treatment catering to locals and tourists.

There has been growing emphasis to expand the economic scope of the city into other service activities such as research and development which supports the rest of the economy
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