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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.
Structural Regulation
Known Applicants for Malaysia Digital Bank Licences
By Ranamita Chakraborty | 11/07/2021
The applicant groups include Grab, Singtel, Axiata Digital, RHB Bank, iFAST Corp, Bangkok Bank, BigPay, Sea Group, AEON Credit Service, Pertama Digital, and others.
Payments & Settlements
Malaysia, Thailand Establish Cross-border QR Payment Link
By Manesh Samtani | 21/06/2021
The first phase of the project, now complete, allows Thai users to make QR code payments to merchants in Malaysia, including for online e-commerce transactions.
Payments & Settlements
BNM Sets Out New Draft Policy for E-Money Issuers
By Manesh Samtani | 14/06/2021
The exposure draft proposes to impose additional requirements including on capital for e-money issuers that have “substantial market presence”.
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