Latest news with #MaybankIslamic
Free Malaysia Today
28-05-2025
- Business
- Free Malaysia Today
4 banks fined nearly RM5mil over regulatory breaches
Bank Negara Malaysia said the fines were issued for breaches of financial regulations committed by the four financial institutions. KUALA LUMPUR : Bank Negara Malaysia (BNM) has imposed administrative monetary penalties totalling RM4.95 million on Bank Pembangunan Malaysia Bhd (BPMB), HSBC Bank Malaysia Bhd, HSBC Amanah Malaysia Bhd, and Maybank Islamic Bhd for breaches of financial regulations. The central bank said it imposed an administrative monetary penalty of RM493,500 on BPMB for non-compliance with provisions under the Development Financial Institutions Act 2002 as well as the Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions (AML/CFT & TFS) Policy Document. In a statement, BNM said it also imposed an administrative monetary penalty of RM3.26 million on HSBC Bank and HSBC Amanah for non-compliances. The penalties were issued for non-compliance with the Financial Services Act 2013, Islamic Financial Services Act 2013 and requirements pertaining to the AML/CFT & TFS policy document. BNM also said it imposed a penalty of RM1.2 million on Maybank Islamic on March 3 for non-compliance with Section 155(3)(b) of the Islamic Financial Services Act 2013. The penalty was also issued for non-compliance with the Central Credit Reference Information System Policy Document, said the central bank.
Malay Mail
28-05-2025
- Business
- Malay Mail
BNM fines four banks for regulatory breaches, imposing millions in penalties
KUALA LUMPUR, May 28 — Bank Negara Malaysia (BNM) has imposed an administrative monetary penalty on four banks, namely Bank Pembangunan Malaysia Bhd (BPMB), HSBC Bank Malaysia Bhd, HSBC Amanah Malaysia Bhd and Maybank Islamic Bhd for various breaches of financial regulations. In a statement, the central bank said it has imposed an administrative monetary penalty amounting to RM493,500 on BPMB for non-compliance with provisions under the Development Financial Institutions Act 2002 as well as the Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions (AML/CFT & TFS) Policy Document. It has also imposed an administrative monetary penalty of RM3.26 million on HSBC Bank Malaysia Bhd for non-compliances related to customer due diligence and sanctions screening requirements, as well as on HSBC Amanah Malaysia Bhd for non-compliances. The penalty was issued for non-compliance with the Financial Services Act 2013, the Islamic Financial Services Act 2013, and requirements pertaining to the Anti-Money Laundering, Countering Financing of Terrorism, Countering Proliferation Financing, and Targeted Financial Sanctions for Financial Institutions. BNM also highlighted that it had, on March 3, 2025, imposed a penalty of RM1.2 million on Maybank Islamic Bhd for non-compliance with section 155(3)(b) of the Islamic Financial Services Act 2013. The penalty was issued for non-compliance with the Islamic Financial Services Act 2013 and Central Credit Reference Information System Policy Document, said the central bank. — Bernama
New Straits Times
24-04-2025
- Business
- New Straits Times
Nor Shahrizan named officer in charge following CEO Muzaffar's resignation
KUALA LUMPUR: Maybank Islamic Bhd has appointed Nor Shahrizan Sulaiman as the officer in charge following the resignation of group chief executive officer (CEO) Datuk Muzaffar Hisham. Shahrizan currently serves as deputy CEO at Maybank Islamic. The bank said the process to identify the new group CEO will commence immediately and the outcome will be announced in due course. "On behalf of Maybank Group, I extend my deepest gratitude to Datuk Muz for his invaluable contributions over the past 14 years. "He has played a pivotal role in steering our Islamic banking franchise towards achieving true global leadership, in line with our M25+ strategy," said Maybank president and group CEO Datuk Khairussaleh Ramli. Maybank's share price closed unchanged at RM9.95, valuing the company at RM120.2 billion.
