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Business and Economics > Insurance

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Cover IMF Staff Country Reports
Malaysia: Publication of Financial Sector Assessment Program Documentation—Detailed Assessment of Observance of Insurance Core Principles
International Monetary Fund. Monetary and Capital Markets Department
This report is an analysis of the insurance core principles of Malaysia. This assessment gives a clear understanding of the regulatory and supervisory framework of the insurance sector of Malaysia. Bank Negara Malaysia (BNM) is the best insurance regulator in this region. Six percent of the financial sector accounts for the insurance sector. The assessment did not reveal any current potential sources of significant risk to the Malaysian financial stability from its insurance industry. The Executive Board expects further enhancement for an effective insurance sector.
Keywords:
ISCR; CR; risk management; BNM supervisor; takaful operator; BNM guideline; corporate governance; BNM staff; BNM guidance; Insurance companies; Insurance; Capital adequacy requirements; Corporate governance; Anti-money laundering and combating the financing of terrorism (AML/CFT); Global
Cover IMF Staff Country Reports
Malaysia: Report on the Observance of Standards and Codes
International Monetary Fund. Asia and Pacific Dept
This report is an assessment of the state of compliance with the Basel Core Principles (BCPs) in Malaysia. Bank Negara Malaysia (BNM) employs a well-developed risk-focused regulatory and supervisory system, consisting of a hands-on and comprehensive program of onsite supervision and extensive offsite macroeconomic and microeconomic surveillance supervision. The assessment has revealed several opportunities for improvement of the regulatory and supervisory framework. The Executive Board recommends the new financial services legislation, the Financial Services Act (FSA), to address many of these gaps.
Keywords:
ISCR; CR; risk management; holding company; BNM supervisor; BNM director; BNM guideline; BNM staff members; enforcement activity; financial system; internal auditor; RBC guideline; variation margin; capital market; financial market; credit risk; hedge fund; banking sector; Insurance companies; Capital markets; Insurance; Commercial banks; Global
Cover IMF Staff Country Reports
Malaysia: Financial Sector Stability Assessment
International Monetary Fund. Asia and Pacific Dept
This assessment is a review of the financial environment of Malaysia. Like many other Asian countries, Malaysia experienced financial distress in the late 1990s, but the country’s policy reforms have moved it to a successful economy. A ten-year financial plan (2001–10) by Bank Negara Malaysia restructured the financial sector. Banks were well capitalized, household debts were strengthened, and securities and insurances were developed. Malaysia thus became the global center for Islamic finance. The authorities look on to a developed Malaysia by 2020.
Keywords:
ISCR; CR; credit risk; financial system; capital adequacy ratio; foreign exchange; banking system; BNM securities; interest rate; bank resolution framework; bank lending; BNM data; monetary policy framework; exchange rate; Commercial banks; Insurance companies; Financial sector; Insurance; Global; Asia and Pacific