Bank Negara Malaysia

KYC & CDD

BNM Publishes Consultation Response on New AML/CFT Framework

By Editors | 03/02/2020

BNM will publish further guidance on the methods used for verifying customer and beneficial owner information and for authenticating their documents.

Structural Regulation

Grab, Razer Considering Malaysia Digital Bank Licences – Report

By Editors | 24/01/2020

CIMB, Hong Leong Bank, Maybank, Grab, Razer, AirAsia, Axiata are reportedly considering submitting bids for Malaysian digital bank licences.

Emerging Prudential Risks

BNM Sets Out Expectations for Developmental Financial Institutions

By Editors | 21/01/2020

BNM has set out its expectations for DFIs’ business plans and funding requirements, to enable them to achieve greater developmental outcomes and support the private sector.

Resolution & Recovery

BNM Issues Draft Framework on Recovery, Resolution Planning

By Editors | 20/01/2020

Each financial institution will be required to identify and plan for the execution of a suite of recovery options to restore its long-term viability under a range of stress events.

Structural Regulation

Malaysia Joins Digital Banking Revolution with Exposure Draft

By Natalie Curtis | 14/01/2020

Herbert Smith Freehills breaks down Malaysia’s new framework for digital banks, comparing the regime to those in Singapore and Hong Kong.

Emerging Prudential Risks

BNM Issues Revised Equity Exposure Rules for FIs

By Editors | 06/01/2020

Financial institutions need BNM’s prior written approval to acquire or hold 20% or more of the voting shares or voting power in a corporation. Compliance is required by 31 December 2021.

Anti-Money Laundering

Malaysia Replaces AML/CFT Framework with Two Policy Documents

By Manesh Samtani | 03/01/2020

The first document is for banks, insurers, money services businesses and payments providers. The second is for NBFIs and DNFBPs, including lawyers, accountants, casinos, real estate agents and trust companies.

Climate Risk

BNM Publishes Draft Taxonomy to Help FIs Classify Climate Risks

By Editors | 02/01/2020

Supervised institutions are expected to integrate climate-related risks and considerations into their business strategies and risk management practices, BNM says.

Conduct, Culture & Accountability

BNM Issues Draft Responsibility Mapping Framework for FIs

By Editors | 30/12/2019

The framework will ensure that responsibilities and accountabilities for key functions at financial institutions are clearly allocated to appropriately senior and competent individuals.