Malaysia

BNM Proposes Rules for Hiring Insurance, Takaful Agents

By Editors | 30/04/2022

Insurers and takaful operators must undertake a due diligence process that includes reference checks with all of an agent’s current and former employers.

Fintech / Regtech

BNM Awards Digital Bank Licences to Five Applicants

By Editors | 29/04/2022

The licence winners include Axiata’s Boost Holdings, RHB Bank, Grab-Singtel’s GXS Bank, Kuok Brothers, Sea Limited, YTL Digital Capital, AEON, MoneyLion, and KAF Investment Bank.

BNM Finalises Conduct Requirements for Financial Advisers

By Ranamita Chakraborty | 29/04/2022

Advisers will have to provide customers with suitable product options from at least three different providers for each class of insurance or takaful business being recommended.

ESG / Sustainability

Malaysia Advances Work on Financial Sector Sustainability

By Manesh Samtani | 28/04/2022

A new report was released assessing current sustainability practices at FIs. Work has commenced to develop a climate disclosure guide for businesses.

ESG / Sustainability

Malaysia to Enhance Governance at State-backed Investment Firms

By Mark Johnston | 24/04/2022

Among other things, the PGG recommends that female directors comprise a minimum 30 percent of a GLIC’s board.

AML / KYC

New York Court Convicts Ex-Goldman Exec in 1MDB Case

By Editors | 11/04/2022

Following an eight-week trial, former Goldman Sachs managing director Roger Ng was convicted on charges of bribery and money laundering. He faces up to 30 years in prison.

ESG / Sustainability

Malaysia EPF Establishes Sustainable Investment Policy

By Editors | 06/04/2022

The EPF is Malaysia’s largest institutional investor and pension fund. The policy will guide it in integrating ESG considerations in its investment processes.

ESG / Sustainability

Malaysia JC3 Issues Draft TCFD Application Guide for FIs

By Editors | 03/04/2022

All Malaysian FIs will be expected to adopt basic recommendations set out in the application guide and encouraged to adopt more sophisticated ‘stretch’ recommendations.

Market Infrastructure

Malaysia in Talks to Harmonise Carbon Trading

By Editors | 29/03/2022

The establishment of a single carbon trading market for Malaysia will help to avoid fragmentation across the country.