Tag Archives: Bank Negara Malaysia

May 02

Hire purchase moratorium interest rate cannot be higher than original contract – BNM

Any additional interest that some banks may charge on the deferred payment cannot be higher than the original hire-purchase contract signed, Bank Negara Malaysia (BNM) said. BNM reiterated that, as a regulator, it has from the very beginning indicated that there will be accrued interest or profit with regard to the six-month moratorium. “Most important […]

November 19

Cabinet orders DBKL to halt approvals for four types of developments

The Cabinet has directed Dewan Bandaraya Kuala Lumpur (DBKL) to freeze approvals for four types of developments following a study by Bank Negara Malaysia (BNM) that raised the alarm on a glut in these buildings. In a document sighted by EdgeProp.my, DBKL was instructed to cease considering and approving the development of shopping complexes, offices, […]

June 29

Bank Negara flags another 14 unapproved firms, websites

Bank Negara Malaysia (BNM) has added another 14 companies and websites under its Financial Consumer Alert list which are  neither authorised nor approved under the relevant laws and regulations. The central bank said on Thursday the latest number increased the list to 334 companies. “Please take note that the list is not exhaustive and only […]

October 09

Bank Negara revokes 1MDB foreign transfers, orders RM7.5 billion sent home

Bank Negara Malaysia today said that its investigations showed troubled state fund 1Malaysia Development Berhad (1MDB) had secured permissions for investments abroad based on inaccurate or incomplete disclosure of information. In a statement, the central bank said it had revoked three permissions granted to 1MDB for investments abroad totalling US$1.83 billion (RM7.53 billion) and directed […]

August 13

BNM says 1MDB probe completed, recommendations submitted to AG

Malaysia’s central bank has completed an investigation into troubled state fund 1MDB and submitted a report to the attorney general, the bank’s governor, Zeti Akhtar Aziz, told a news conference on Thursday. “The bank has submitted its investigation papers to the attorney general with the recommendation for the appropriate enforcement action,” she told reporters. The […]

July 12

Bank Negara Malaysia denies its officials had leaked confidential information

Bank Negara Malaysia strongly condemns allegations that officials of the Bank leaked information to the media. In a statement issued today, the central bank said: Such allegations are without basis. In this regard, the Bank has lodged a police report. Bank Negara Malaysia remains steadfast in our quest to uncovering the truth in a fair […]

July 12

And will there be a dawn raid to arrest the culprits?

Lessons never learnt, it would seem. Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz was clear on the issue of banking confidentiality when she said in 2012: “The confidentiality of customer information is clearly protected by the Banking and Financial Institutions Act 1989 (BAFIA). So when a Public Bank Berhad clerk from the […]