Thursday, 3 May 2012

Bank Negara named Bank Regulator of the Year

KUALA LUMPUR (May 3): Bank Negara Malaysia (BNM)'s success in steering Malaysia's financial system mostly unscathed through the global financial crisis was recognised after winning two awards at the Asian Banker Risk and Regulation Conference last week.

"BNM formulated various measures and policies, such as its 'Guidelines on Responsible Financing', launching a series of moves to liberalise its financial sector to facilitate cross-border business transactions and enhance business efficiency, as well as placing emphasis on consumer protection, exhibiting rigorous yet responsible supervisory conduct," said the Asian Banker in a statement Thursday.

It added that BNM had demonstrated exemplary supervision and rigorous conduct throughout the global financial crisis.

BNM won Bank Regulator of the Year in the Asia Pacific Region and the Best Conduct of Business Regulator award for 2012 at the event held on Apr 25 in Bangkok, Thailand in conjunction with the Asian Banker Summit 2012.

Furthermore, BNM had also strategically positioned and promoted Malaysia as a leading Islamic financial hub in Asia with islamic banking constituting 20% of the Malaysian banking system while Sukuk markets accounting for more than 50% of the Malaysian bond market, it said.

The Asian Banker is a provider of strategic business intelligence to the financial services community.

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