BNM
Grade B
Bank Negara Malaysia · Malaysia · Official register
License facts
What it takes to hold this license, from the TrustFinance regulator database.
TrustFinance grade
of A to D
Companies on record
4
holding this license
Requirements to get licensed
- Establish a clear risk appetite and risk management strategy governing the BCM framework;
- Approve the BCM framework of the financial institution and ensure subsequent reviews are conducted at least annually;
- Establish a sound internal governance structure that provides effective oversight over the implementation of the BCM framework, consistent with the overall business strategy and risk appetite of the financial institution;
- Ensure sufficient management capacity and resources, including budget and staff, are allocated to support an effective BCM framework; and
- Instil a strong organisational culture that embeds the BCM framework in the strategy and business operations of the financial institution
- Develop and ensure effective implementation of the BCM framework including relevant strategies and practices, commensurate with the
- operational environment, business activities and inherent risks of the
- financial institution;
- Clearly define the roles and responsibilities of staff, functions and
- committee referred to in paragraphs 8.4 and 8.5 accountable for the BCM
- framework of the financial institution;
- Ensure regular testing of the BCM framework;
- Review the BCM framework at least annually, to ensure that it is up-to-date,
- effective and appropriate to the scope, nature and complexity of the
- operations of the financial institution;
- Allocate sufficient resources to effectively implement and maintain the
- BCM framework;
- Ensure the BCM framework is embedded in the strategy and business
- operations of the financial institution;
- Ensure adequate organisational understanding of the BCM framework and
- that all levels of staff are well equipped to perform their roles;
- maintain adequate documentation of the BCM framework (including its
- implementation) and make available such documentation to the Bank upon
- request;
- Communicate with the board regularly to address strategic issues and
- concerns with regard to the BCM framework in a timely manner; and
- Timely notify the Bank in writing on developments concerning the BCM
- framework that result, or could result, in a material adverse impact to the
- financial institution.
About this regulator
Bank Negara Malaysia (the Central Bank of Malaysia), is a statutory body which started operations on 26 January 1959. Bank Negara Malaysia is governed by the Central Bank of Malaysia Act 2009. The role of Bank Negara Malaysia is to promote monetary and financial stability. This is aimed at providing a conducive environment for the sustainable growth of the Malaysian economy.
Companies holding this license
4 companies on record. Each links to its verification page.
