Bank Negara Malaysia (BNM) announced Exposure Draft on Currency Processing Business on January 17, 2024. This Exposure Draft sets out the proposed standards and guidelines to be observed by Registered Currency Processors (RCPs) in order to ensure prudent practice, professionalism, integrity, accountability and transparency of currency processing businesses. The exposure draft covers related key areas as follows:
- Governance;
- Operational requirements;
- Internal control; and
- Information technology (IT) requirements.
BNM would like to invite written feedback on the proposals in this exposure draft, including suggestions for specific issues, areas to be clarified or elaborated further, and any alternative proposals that BNM should consider. The written feedback should be supported with clear rationale, accompanying evidence or appropriate illustrations to facilitate an effective review of this exposure draft. Feedback for the exposure draft must be submitted electronically to BNM by March 15, 2024 to currency@bnm.gov.my
Source: IBP