Digital insurers and takaful operators will initially be subject to a lower minimum paid-up capital requirement during a 3-5 year foundational period.
November 30, 2022The proposed rules impose 'fit and proper' requirements on shareholders and key responsible persons of adjusters.
August 4, 2022BNM 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.
July 4, 2022The board and senior management shall be held "jointly accountable" for bancassurance/bancatakaful products that result in "poor consumer outcomes".
July 3, 2022The guidance sets out expectations on the governance processes, design principles, and operational controls FIs should consider when adopting cloud services.
June 5, 2022Insurers and takaful operators must undertake a due diligence process that includes reference checks with all of an agent's current and former employers.
April 30, 2022Advisers 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.
April 29, 2022Digital insurers and takaful operators should have a minimum paid-up capital of MYR 40 million during the foundational phase.
January 6, 2022New draft rules are aimed at strengthening safeguards to ensure the delivery of better outcomes for consumers of insurance/takaful products.
September 5, 2021Advisers will have to provide customers with suitable product options from at least three different providers when recommending insurance or takaful products.
August 16, 2021