Bank Negara Malaysia Takes Decisive Action on Banking Services Disruptions

Bank Negara Malaysia responds firmly to recent banking services outages, demanding prompt restoration, effective communication with customers, and comprehensive explanations from affected banks. Further supervisory actions threatened for institutions failing regulatory standards.

9 April 2024 – Bank Negara Malaysia (BNM) has issued a stern response to the recent disruptions in banking services experienced by two major Malaysian financial institutions. In light of the inconvenience caused to customers, BNM has demanded prompt restoration of services, effective communication with affected customers, and comprehensive explanations from the banks regarding the root causes and preventive measures taken.

In a press release, BNM emphasized its commitment to maintaining high standards of banking service availability and warned of further supervisory actions against institutions failing to meet regulatory expectations. The move underscores BNM’s dedication to safeguarding consumer interests and ensuring the stability of Malaysia’s financial sector.

Author: Terry KS

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