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KUALA LUMPUR: Bank Negara is calling for the extension of recovery and resolution planning to non-members of Malaysia Deposit Insurance Corp or PIDM , in an effort to better prepare the financial sector for potential uncertainties.
Bank Negara governor Datuk Seri Abdul Rasheed Ghaffour emphasised the importance of continuous improvement in recovery planning. “We are exploring ways to enhance our liquidity assistance framework by broadening the range of acceptable collateral during stressed periods and improving the time taken to value such collateral,” he explained.
“The fast increasing and significant scale of Islamic banking and takaful in Malaysia requires recovery and resolution processes to consider syariah requirements. “As we sow the seeds of resolution planning policy, we need to dive into the planting process, remove weeds and adjust as we go, water them with collaborative and effective efforts and patiently watch them grow into positive outcomes.”
Bank Negara Abdul Rasheed Ghaffour PIDM
Malaysia Latest News, Malaysia Headlines
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