KUALA LUMPUR: Bank Negara Malaysia (BNM) has imposed administrative monetary penalties on Bank Islam Malaysia Bhd (BIMB), Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat), and Bank Simpanan Nasional (BSN) for breaches of financial regulations.
BNM stated today that it fined BIMB RM3.445 million for non-compliance with the Islamic Financial Services Act 2013 and related policy documents, including the Risk Management in Technology Policy Document (RMiT PD) and the Anti-Money Laundering, Countering Financing of Terrorism, and Targeted Financial Sanctions for Financial Institutions Policy Document.
BIMB paid RM1.70 million for an administrative monetary penalty imposed on May 29, 2025 related to sanction screening failures, and RM1.745 million for a separate penalty imposed on June 30, 2025 over prolonged service disruptions.
Separately, Bank Rakyat was fined RM2.85 million for non-compliance with the Development Financial Institutions Act 2002 (DFIA) and the RMiT PD.
The bank paid the full amount on June 26, 2025.
BSN was also fined RM995,000 for breaching the DFIA and RMiT PD, with payment made on June 25, 2025. – Bernama
