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Money Services Business

Money Services Business (MSB)

The money services business industry in Malaysia comprises the following businesses:

Key Features of New Money Services Business Landscape

  • The Money Services Business Act 2011 provides a single, uniform and dedicated regulatory framework for licensees in the money services business
  • Greater business flexibilities and opportunities including the ability to carry on multiple business activities within a single entity for qualified entities, thus promoting greater synergies between these activities and economies of scale;
  • Differentiated regulatory requirements according to the nature, scale and complexity of an entity’s business;
  • Strengthened safeguards to promote the professional and sound management of the industry; and
  • Wide range of enforcement actions to ensure compliance with the new act.

How to Identify Authorised Money Services Business Operators?

  1. An authorised money services business operator must display a copy of the following at its premises:
    • Licence issued by Bank Negara Malaysia or certificate of appointment as an agent issued by principal money services business licensees; and
    • Membership logo of Malaysian Association of Money Services Business.

  2. The list of money services business licensees and approved money services business agents are available on Bank Negara Malaysia’s website.