Bank Negara Malaysia

Payments & Settlements

Project Nexus Completes Blueprint; Prepares for Live Implementation

By Nithya Subramanian | 02/07/2024

To facilitate live implementation, a new entity named the Nexus Scheme Organisation, will be established.

Fraud, Scams & Cybercrime

BNM Calls for Prompt Refunds for Depositors Affected by Fraud

By Nithya Subramanian | 24/06/2024

The central bank said recent reports of large-scale unauthorised cash withdrawals arose from collusion between bank employees and external parties.

Credit Risk

BNM Issues Framework on Standardised Approach to Credit Risk

By Editors | 17/06/2024

The framework will come into effect on 1 July 2026, one year later than initially proposed in January 2023.

Anti-Money Laundering

Malaysia Taking Steps to Enhance AML/CFT Regime

By Editors | 16/05/2024

Malaysian laws are being reviewed to address “gaps and implementation issues” and “elevate beneficial ownership reporting”.

Supervision & Enforcement

BNM Fines 14 Banks Over Erroneous Statistical Submissions

By Sanday Chongo Kabange | 09/05/2024

The reporting failures were caused by unresolved technical issues and inadequate operating procedures.

Supervision & Enforcement

BNM Publishes Document Detailing its Enforcement Approach

By Sanday Chongo Kabange | 07/05/2024

BNM says increased transparency should “foster confidence” in its role as a regulator and supervisor.

Credit Risk

Malaysia to Regulate BNPL Under New Consumer Credit Act

By Sanday Chongo Kabange | 23/04/2024

The government and regulators are reportedly formulating a new Consumer Credit Act that will capture non-bank entities including BNPL providers.

KYC & CDD

BNM Finalises Policy Requirements for Electronic KYC

By Mark Johnston | 17/04/2024

The policy document sets revised requirements and guidance for implementing e-KYC solutions in Malaysia’s financial sector.

Operational Risk

BNM Directs CIMB, Maybank to Explain Recent Service Outages

By Editors | 10/04/2024

CIMB Malaysia experienced service disruptions on some of its services on Tuesday, while Maybank saw some disruptions last Friday.