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Conduct, Culture & Accountability
BNM Issues New Rules for Banks Selling Insurance & Takaful Products
By Editors | 02/07/2022
The board and senior management shall be held “jointly accountable” for bancassurance/bancatakaful products that result in “poor consumer outcomes”.
Climate Risk
Malaysia Regulators Publish TCFD Adoption Guide for FIs
By Editors | 30/06/2022
All local and foreign FIs are expected to adopt the basic recommendations set out in the application guide within a recommended timeframe of 24 months.
Liquidity Risk
BIS Launches Yuan Liquidity Facility for Central Banks
By Editors | 28/06/2022
Central banks from China, Hong Kong, Singapore, Malaysia, Indonesia and Chile are creating a reserve pool to guard against market stresses.
CBDCs
BIS Innovation Hub Outlines Lessons from CBDC Experiments
By Manesh Samtani | 23/06/2022
The report covers four experiments, Project Inthanon-LionRock, Project Jura, Project Dunbar, and Project mBridge.
Fraud, Scams & Cybercrime
BNM Directs Banks to Enhance Fraud Risk Controls
By Editors | 12/06/2022
BNM will take supervisory and enforcement actions against banks that fail to protect their customers from fraud risk.
Cloud & Infrastructure
BNM Issues Draft Guidance on Managing Cloud Risks
By Sanday Chongo Kabange | 05/06/2022
The guidance sets out expectations on the governance processes, design principles, and operational controls FIs should consider when adopting cloud services.
Conduct, Culture & Accountability
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.
Structural Regulation
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.
Conduct, Culture & Accountability
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.
Climate Risk
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.
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