Bank Negara Malaysia (BNM) is pleased to announce that the Malaysian banking and financial system under its supervision continues to have a smooth rollover into the year 2000.

BNM's own systems used by the industry such as the inter-bank payment system (Real Time Gross Settlement System or RENTAS) and the national cheque clearing system (SPICK) have also rolled over successfully.

The latest industry health check reports submitted by the various Y2K Command Centres of the banking and financial institutions showed that there were no Y2K-related problems. BNM is also pleased to inform all ATM and credit card systems are functioning.

The banking and financial institutions, which include insurance companies, will continue to perform further testing as part of the health check mandated by Bank Negara Malaysia.

As stated in BNM's earlier statement at 2.00 a.m. on 1 January 2000, the financial institutions had reported to Bank Negara Malaysia that the computer hardware systems were successfully activated, and testing of the various software applications had also commenced.

The BNM Command Centre has been in operation for 24 hours from 30 December 1999 and will operate in that mode until 4 January 2000. Members of the public can contact BNM's Y2K Command Centre by calling 03-293-2330 (hunting line) or faxing to 03-298-5757 (hunting line).

Bank Negara Malaysia
01 Jan 2000

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