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Financial Stability

Monetary Penalty Review Committee

The Monetary Penalty Review Committee (MPRC) is an independent committee legislated under section 238 of the Financial Services Act 2013 (FSA) and section 249 of the Islamic Financial Services Act 2013 (IFSA) to consider appeals from persons (individuals or institutions) against the quantum of administrative monetary penalties or pecuniary remedies imposed by BNM in exercising its administrative enforcement powers under section 234 of the FSA , section 245 of the IFSA and section 106A of the Development Financial Institutions Act 2002 (DFIA)

The FSA, IFSA and DFIA aim to provide an accessible, efficient and cost effective mechanism to aggrieved parties to appeal against BNM’s decisions. The members of MPRC are appointed by the Minister of Finance from amongst the non-executive directors of BNM or other persons.

An appeal to the MPRC must be filed within 21 days after the aggrieved party has been notified of BNM’s decision using the Notice of Appeal Form.  The detailed procedure for filing an appeal is set out in the Appeal Manual. The MPRC may decide to either confirm BNM’s decision or require BNM to reconsider and reach a decision in accordance with the findings of the MPRC.


Members of MPRC

  YBhg. Tan Sri Dato' Seri Abdull Hamid bin Embong
     
  YBhg. Datuk Chin Kwai Yoong
     
  YBhg. Datuk Professor Sundra Rajoo
     

Appeal Guidelines


Contact Us

Secretariat
Monetary Penalty Review Committee
Bank Negara Malaysia
Jalan Dato’ Onn
50480 Kuala Lumpur

Telephone    : 03 2604 0241 
Facsimile      : 03 26912990
Email             : mprc@bnm.gov.my