FINANCIAL MARKETS COMMITTEE
Frequently Asked Questions (FAQs)
Why has Bank Negara Malaysia (BNM) established the FMC?
The FMC is an engagement platform with the financial market industry and participants to discuss and assess trends, issues and develop ideas and suggestions on areas in relation to financial market development. The specific mandates of FMC are as follows:
- To identify and assess current and potential developments and issues, structural trends and risks affecting the Malaysian financial markets
- To formulate policy recommendations and action plans to develop the Malaysian financial markets for consideration by the stakeholders and regulatory bodies
- To promote market best practices and contribute towards enhancing market integrity and professionalism.
What are the scopes of the FMC?
The FMC covers all aspects of financial markets under the purview of BNM – foreign exchange, money, government bond and derivatives markets where the underlyings are based on foreign exchange and interest rates. At macro-level, the FMC will look into areas such as participants, products/instruments, liquidity, infrastructures, surveillance, rules and regulation, market transparency, talent and education.
At present, foreign exchange and bond markets are the two priority areas for the FMC based on feedback from members and therefore two subcommittees, i.e. FX Market Sub-Committee and Bond Market Sub-Committee, had been formed to look into these areas with greater details. Other subcommittees may be considered as the need arises.
Who are the committee members?
Apart from BNM, the committee members are from Securities Commission Malaysia and relevant industry associations, such as Financial Market Association Malaysia (FMAM), Malaysian Association of Corporate Treasurer (MACT), Life Insurance Association of Malaysia (LIAM), and Malaysian Association of Asset Managers (MAAM), which have prominent role or participation in the Malaysian financial markets.
Who at BNM are involved?
Representatives from various departments in BNM are involved in the FMC as well as the subcommittees. Specifically, they are from Jabatan Operasi Pelaburan dan Pasaran Kewangan (JOPPK), Jabatan Pembangunan Sektor Kewangan (JPSK) and Jabatan Pentadbiran Pertukaran Asing (JPPA), assisted by Jabatan Komunikasi Strategik (JKK) for communication purpose. This may include other departments that are related to the matters discussed at the FMC meetings.
What are the issues discussed?
Please refer to BNM's website under the 'Meetings' page for summary of issues discussed in the meetings.
Who should I contact if I have any comments or feedback relating to FMC?
Comments and feedback from public are welcome and can be forwarded to the committee through email: email@example.com.