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CBDCs
CBDCs Theaten to Eat Into Banks’ Remittance Fees: Moody’s
By Ranamita Chakraborty | 20/09/2021
Fees and commissions banks charge for cross-border transactions will be reduced with wide adoption of CBDCs.
Structural Regulation
Malaysia, Thailand Invite Banks to Become ‘Qualified ASEAN Banks’
By Manesh Samtani | 15/09/2021
The initiative is part of the April 2019 bilateral arrangement between BNM and BOT under the ASEAN Banking Integration Framework.
Conduct, Culture & Accountability
BNM to Raise Standards for Bank Sales of Insurance, Takaful Products
By Editors | 05/09/2021
New draft rules are aimed at strengthening safeguards to ensure the delivery of better outcomes for consumers of insurance/takaful products.
CBDCs
BIS, Four Central Banks Partner to Test Cross-Border CBDC Use
By Sanday Chongo Kabange | 03/09/2021
The BIS Innovation Hub Singapore Centre will test CBDCs for international settlements with the RBA, MAS, BNM and SARB.
Conduct, Culture & Accountability
BNM Amends Rules on Managing Financial Adviser Conduct
By Editors | 15/08/2021
Advisers will have to provide customers with suitable product options from at least three different providers when recommending insurance or takaful products.
Structural Regulation
BNM Standardises Reference Rate Used in Floating-rate Loans
By Editors | 11/08/2021
The ‘Standardised Base Rate’ will replace the ‘Base Rate’ as the reference rate for new retail floating-rate loans from 1 August 2022.
Climate Risk
Malaysia Forms Group to Support Climate Taxonomy Adoption
By Editors | 05/08/2021
12 members of Malaysia’s Joint Committee on Climate Change have committed to early adoption of the taxonomy, ahead of the July 2022 deadline.
Resolution & Recovery
Malaysia Establishes Policy on Recovery and Resolution Planning
By Editors | 31/07/2021
Financial institutions will be required to submit their first recovery plans within 18 months from the date they receive a request from BNM.
KYC & CDD
BNM Allows MSBs to Onboard Corporate Customers Remotely
By Sanday Chongo Kabange | 12/07/2021
A new policy document sets out the minimum requirements MSBs must observe when onboarding corporate customers using non-face-to-face verification processes.
Credit Risk
Malaysia Provides Six Month Automatic Moratorium to Borrowers
By Sanday Chongo Kabange | 11/07/2021
This is the second time Malaysia has introduced a comprehensive loan moratorium after its debut in March last year.
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