Compliance
Anti-Money Laundering Wolfsberg Questionnaire
The Anti-Money Laundering Wolfsberg Questionnaire provides an overview of BMMB’s AML Policy, Practices and Procedures for the purpose of correspondent banking services that requires more detailed information about the BMMB’s AML Compliance Programme.
Anti-Money Laundering Wolfsberg Questionnaire
Anti-Money Laundering/Counter Financing of Terrorism Policy
The Anti-Money Laundering/Counter Financing of Terrorism (AML/CFT) Policy provides general information on processes, practices, and controls to ensure compliance to the Anti-Money Laundering, Anti-Terrorist Financing and Proceed of Unlawful Activities Act 2001 and regulatory requirements, including by Bank Negara Malaysia as stated in AML/CFT – Banking and Deposit Taking Institutions (Sector 1). BMMB has taken the reasonable and appropriate measure to prevent any individual or entity engaged in money laundering and terrorism financing from exploiting BMMB’s products and services. This executive summary of the AML/CFT Policy set outs the overview and main component of the AML/CFT Policy which to be adhered by BMMB.
Policy on Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT)
Foreign Exchange Notices (FE Notices)
Notice 1 – Minimum Due Diligence (MDD) Guide for Foreign Exchange (FE) Rules
Notice 2 – Minimum Due Diligence (MDD) Guide for Foreign Exchange (FE) Rules
Notice 3 – Minimum Due Diligence (MDD) Guide for Foreign Exchange (FE) Rules
Notice 4 – Minimum Due Diligence (MDD) Guide for Foreign Exchange (FE) Rules
Notice 7 – Minimum Due Diligence (MDD) Guide for Foreign Exchange (FE) Rules
Foreign Exchange Notices
Liberalisation of Foreign Exchange Policy (FEP) effective 15 April 2021
With reference to Bank Negara Malaysia’s (BNM) announcement on 31 March 2021 regarding the further liberalisation of the foreign exchange policy (FEP), please note the following:
- Mandatory conversion of export proceeds by resident exporters of 75% Malaysian Ringgit and 25% Foreign Currency is no longer applicable.
- All declarations in relation to either Resident Exporter customers or Resident SME Net Importer customers provided to or by the bank is no longer applicable.
- Payments from one Resident to another Resident within the global supply chain will require a fresh declaration.
For more information, please refer to the BNM Announcement or FAQ.