This Exposure Draft sets out Bank Negara Malaysia (BNM)'s proposed requirements and guidance relating to the provision of advice, recommendation and sale of insurance and takaful products. The proposed measures aim to strengthen sales conduct standards and support fair consumer outcomes through improved advice practices and accountability.

BNM invites written feedback, supported with clear rationale, evidence or illustrations, on the proposed requirements. Feedback must be submitted through the following link - Proper Advice Practices Exposure Draft: Industry Feedback.

Applicability

FSA
IFSA
DFIA

Section in Charge
Market Conduct Regulation

Issuance Date
30 September 2026

Issuing Department
Consumer and Market Conduct

Document
Exposure Draft on Proper Advice Practices for Insurance and Takaful Business