The Central Bank has issued an Exposure Draft on Basic Banking Services which sets out the proposed requirements and expectations that financial service providers (FSPs) must meet in order to ensure that financial consumers, particularly the unserved and underserved segments of the Malaysian population, have access to essential banking services at minimal cost.
Bank Negara invites written feedback on the regulatory requirements including suggestions on specific issues or areas that need further clarification or alternative proposals that it should consider.
It asks for the written feedback to be supported with clear rationale, evidence or illustrations, where appropriate, to facilitate a robust review of this exposure draft.
