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KUALA LUMPUR: Maybank’s Bumiputera equity requirement for its panel of lawyers was the bank’s own policy and not a government directive, the prime minister said.

Datuk Seri Abdullah Ahmad Badawi said the government had never stipulated that law firms had to be at least half-owned by Bumiputeras before they could do business with banks.

"This is the administrative and management policy of Maybank.

"I just hope that it will always be fair and just in determining any distribution," he said at a press conference after the 61st Umno Day celebration at the Putra World Trade Centre yesterday.

Abdullah said the government would not dictate what Maybank should or should not do.

"They know what to do best," he added.

Maybank’s instruction for its legal panelists to have at least 50 per cent Bumiputera shareholdings drew criticism from lawyers and some political groups which insisted that firms should be selected on merit and not ethnic composition, either in their employment or equity.

On Wednesday, the bank backtracked, saying it would with immediate effect give due consideration to all legal firms, whether they had Bumiputera equity or not.

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