BNM imposes penalties on BIMB, Bank Rakyat and BSN for non-compliance
31 Jul 2025 08:44am
The central bank said it also has imposed an AMP of RM2.85 million on Bank Kerjasama Rakyat Malaysia Bhd (BKRM) for non-compliance with the Development Financial Institutions Act 2002 (DFIA) and RMiT PD.
KUALA LUMPUR - Bank Negara Malaysia (BNM) has imposed an administrative monetary penalty (AMP) totalling RM3.445 million on Bank Islam Malaysia Bhd (BIMB) for non-compliance with the Islamic Financial Services Act 2013 (IFSA) and the relevant policy documents.
The relevant policy documents include Risk Management in Technology Policy Document (RMiT PD) and Anti-Money Laundering Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions Policy Document (AML/CFT and TFS for FIs PD), the central bank said in a statement yesterday.
BNM said BIMB paid RM1.70 million for the AMP imposed on May 29, 2025, for sanction screening breaches and RM1.745 million for the AMP imposed on June 30, 2025, for prolonged service disruptions.
Separately, the central bank said it has imposed an AMP of RM2.85 million on Bank Kerjasama Rakyat Malaysia Bhd (BKRM) for non-compliance with the Development Financial Institutions Act 2002 (DFIA) and RMiT PD.
It said BKRM paid RM2.85 million for the AMP imposed on June 26, 2025.
Apart from that, BNM also said it has imposed an AMP of RM995,000 on Bank Simpanan Nasional (BSN) for non-compliance with the DFIA and RMiT PD.
BSN paid RM995,000 for the AMP imposed on June 25, 2025, said BNM. - BERNAMA
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