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.