Money Services Business (MSB)
The list of money services business licensees and approved money services business agents are available here.
The money services business industry in Malaysia comprises the following businesses:
Key Features of 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?
- 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.