Recommend Us | About Us | Back to Bernama.com

News | Financial Calculator | Home Financing | Archived News |

 

  Welcome to Bernama Banking & Finance Special Page     
 
Islamic Banks Are No Longer Required To Maintain Reserve Fund - BNM

KUALA LUMPUR, May 3 (Bernama) -- Bank Negara†Malaysia (BNM) announced†that†Islamic banks are no longer required to maintain a reserve fund effective May 3, 2017.

The Islamic banks were expected to exercise prudence before submitting an application to distribute the reserves as dividends, the central bank announced on its website.

"BNM†wishes to inform that in considering the dividend application, the bank shall consider, among others, the Islamic bank's ability to comply with the fully phased-in capital conservation buffer requirement and any other buffers that the bank may specify," it said.

The policy was introduced†to ensure a banking institution maintains a minimum size of capital to operate and perform its intermediation function effectively.

However,††the†requirement was†no longer relevant given the implementation of the capital conservation buffer under the capital adequacy framework, BNM explained.

-- BERNAMA

 <Back>

OCBC Al-Amin Launches OCBC 360-i
Islamic Banks Are No Longer Required To Maintain Reserve Fund - BNM

 
Bank Muamalat Contributes Items For Surau Under Rapid Rail

Government Will Not Tolerate Insurance Companies Increasing Premiums - Johari
Change To Stay Ahead, Says LIAM

 
LIAM-MTA To Develop Online Guide For Insurance Products

CLOSING, FRIDAY, MAY 26
US 4.2670/2700
S'pore 3.0844/0886
100 Yen 3.8452/8496
Sterling 5.4912/4955
Euro 4.7859/7897
Source: Bank Negara Malaysia

Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Bankerís Cheque, Bank Draft and Cashierís Order. Do you think this additional charge is justified?
 

 
  Main | News | Insurance

© 2017 BERNAMA. All Rights Reserved. Disclaimer | Privacy Policy| Security Policy
This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.
Best viewed in Firefox 8.0 & Internet Explorer 8.0 with 1024 x 768 resolution