Bank Negara Malaysia

Structural Regulation

BNM Approves UOB Acquisition of Citi’s Malaysia Business

By Editors | 19/09/2022

UOB subsidiaries reached agreements in January to acquire Citigroup’s consumer banking businesses in Malaysia, Indonesia, Thailand and Vietnam.

Reporting & Disclosures

Malaysia to Issue ESG Disclosure Guide for SMEs

By Editors | 01/09/2022

Regulators are also developing guidance on Malaysia’s taxonomy, exploring blended finance solutions, and developing a catalogue of climate risk data sources.

Anti-Money Laundering

Malaysia to Enhance AML Supervision of Company Secretaries, Trust Companies

By Editors | 23/08/2022

The Companies Commission of Malaysia will “take on greater responsibility” in supervising company secretaries and trust companies “in the near future”.

Cybersecurity

Malaysia Reassures Public After Data Breach at Payments Firm

By Editors | 15/08/2022

The iPay88 breach will be raised in a Cabinet meeting to discuss a proposal to establish a Royal Commission of Inquiry to investigate the incident.

Data Privacy

BNM Reviewing Appropriateness of Published Statistical Data

By Editors | 09/08/2022

Industry practitioners, academia and the public are asked to complete a survey to help BNM assess public demand for its published data.

Structural Regulation

Malaysia Unveils Details of New Consumer Credit Act

By Editors | 05/08/2022

A ‘Consumer Credit Oversight Board’ will be established as an independent authority to oversee all consumer credit activities including BNPL under a single umbrella.

Conduct, Culture & Accountability

BNM Consults on New Requirements for Adjusters

By Editors | 03/08/2022

The proposed rules impose ‘fit and proper’ requirements on shareholders and key responsible persons of adjusters.

Structural Regulation

BNM Sets Deadline for Foreign Insurers to Reduce Stakes in Local Firms

By Editors | 21/07/2022

Most foreign insurers in Malaysia have not complied with a 70 percent limit set in 2009 on their ownership in local firms.

Climate Risk

BNM Calls on FIs to Start Preparing for 2024 Climate Stress Tests

By Editors | 03/07/2022

BNM has proposed a framework for the 2024 CRST exercise to assess the resilience of Malaysian FIs to physical and transition risks arising from various climate scenarios.