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Financial Inclusion

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Relevant Standards, Guidelines and Circulars for Financial Inclusion

(For other standards, guidelines and circulars issued by Bank Negara Malaysia, refer to Guidelines & Circulars Section)

1. Agent Banking
The policy document outlines the minimum expectations to be observed by financial institutions (FIs)that intend to undertake agent bankinginitiative.

2. New Definition of Small and Medium Enterprises (SMEs)
The Circular is to inform financial institutions to use the revised definition for SMEs effective1 January 2014 for statistical purposes,theeligibility criteria of SMEs for Government assistance and exclusions.

3. Invitation to Participate on Flexible Pembiayaan Mikro
The letter outlinesthe features of flexible micro financing products and strongly encourages participating FIs to develop flexible micro financing products  to address irregular cash flow needs of micro enterprise.

4. Client Charter of Granting of Loans to Small and Medium Industries by Development Financial Institutions
The Circular requires development financial institutions to prominently display a client charter on the processing of loans to the Small and Medium Enterprises in their premises.

5. Establishment of Microfinance Branches by Locally Incorporated Foreign Banks
Following the liberalisationmeasures announced for the financial services sector on 27 April 2009, locally incorporated foreign banks are accorded greater branching flexibility to promote financial inclusion. This Circular sets out the arrangements for locally incorporated foreign banks to establish microfinance branches.

6. Guidelines on Basic Banking Services for Development Financial Institution
The primary objective of these Guidelines is to ensure that all consumers have access to a minimum level of banking services at minimal costs. The Guidelines also include the requirement that the minimum level of interest rate to be offered for basic savings account (BSA) shall not be lower than 0.25% per annum. For BSA based on Islamic principles, a BSA may earn hibah/profit on the account balance.

7. Restructured and Rescheduled SME Loan / Financing Report
With effect from 16 March 2009, financial institutions are required to report all restructured and rescheduled SME loans or financing to Bank Negara Malaysia based on the template, on monthly basis. The report shall be submitted to JabatanKewanganPembangunan danEnterpris, Bank Negara Malaysia by the 15th of the following month.

8. Eligible Products that Meet Bank Negara Malaysia’s Definition of a Microfinance Product
The Circular is to inform the criteria of a microfinance product and products of financial institutions that meet such criteria will be eligible to use the national microfinance logo.

9. Guidelines on Basic Banking Services for Islamic Banking Institutions
The Guidelines provide the framework for Basic Banking Services which Islamic banking institutions are required to offer to the public.

10. Guidelines on Basic Banking Services
The Guidelines provide the framework for Basic Banking Services which banking institutions are required to offer to the banking public.

11. Best Practices for Credit Risk Management
The Guidelines outline the best practices for the management of credit risk for the banking institutions and incorporate a set of practices that the banking institutions  should adopt.

12. Client Charter on Granting of Loans to Small and Medium Enterprises by Banking Institutions
The Circular requires development financial institutions to prominently display a client charter on the processing of loans to the small and medium enterprises in their premises.