Deputy finance minister: BNM may take supervisory actions, impose penalties on banking services outages

  • 📰 malaymail
  • ⏱ Reading Time:
  • 24 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 86%

Lim Hui Ying News

BNM,Bank Outages

KUALA LUMPUR, June 26 — Bank Negara Malaysia (BNM) may take supervisory actions and impose penalties on violations of regulatory provisions under its supervision following the...

Can Malaysia’s aviation industry shed bureaucratic baggage and take flight? Here’s what Mavcom prescribed prior to merger bid in 2020Deputy Finance Minister Lim Hui Ying said the appropriate follow-up actions, as provided under the Financial Services Act 2013 and the Islamic Financial Services Act 2013 , would depend on an assessment of the root cause and impact of the disruptions from the affected institutions.

“Regarding the recent incidents of online services outage, BNM has taken immediate actions to instruct the banking institutions involved to determine the root cause of the disruptions and subsequently set appropriate corrective and preventive measures to avoid a recurrence of similar issues. Furthermore, she said BNM is closely monitoring the situation to ensure that the banking institutions involved restore normal banking services as soon as possible.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines