Financial consumers protection regime in Malaysia: main guidelines issued by Bank Negara Malaysia

Financial consumers protection regime in Malaysia: main guidelines issued by Bank Negara Malaysia

The purpose of this paper is to discuss the financial consumer protection in Islamic banks in the context of Islamic Financial Service Act 2013 (IFSA 2013) by looking simultaneously to the standards and guidelines issued by Bank Negara Malaysia (BNM). This conceptual paper examines relevant provisio...

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Main Authors: Hassan, Rusni, Mohamad, Nurun Nadia
Format: Article
Language:English
Published: New Millennium Discoveries, UK 2019
Subjects:
HG3368 Islamic Banking and Finance
Online Access:http://irep.iium.edu.my/75396/
http://irep.iium.edu.my/75396/
http://irep.iium.edu.my/75396/2/75396%20-Financial%20Consumers%20Protection%20Regime%20in%20Malaysia_%20Main%20Guidelines%20Issued%20by%20Bank%20Negara%20Malaysia.pdf
id iium-75396
recordtype eprints
spelling iium-753962020-02-21T02:43:16Z http://irep.iium.edu.my/75396/ Financial consumers protection regime in Malaysia: main guidelines issued by Bank Negara Malaysia Hassan, Rusni Mohamad, Nurun Nadia HG3368 Islamic Banking and Finance The purpose of this paper is to discuss the financial consumer protection in Islamic banks in the context of Islamic Financial Service Act 2013 (IFSA 2013) by looking simultaneously to the standards and guidelines issued by Bank Negara Malaysia (BNM). This conceptual paper examines relevant provisions in both Acts as well as in respective standards and guidelines by BNM related to financial consumer protection. In keeping with the main focuses of BNM on promoting fair, responsible and professional conduct by financial services providers to secure financial stability, this paper highlights the provisions which need to be adhered by the Islamic banks in treating their financial consumers. The discussions of the relevant provisions, standards, and guidelines will enrich the academic understanding of financial consumer protection in Malaysia. This study provides an insight on the initiatives taken in Malaysia particularly in the Islamic banking industry to protect the financial consumers. New Millennium Discoveries, UK 2019-10 Article PeerReviewed application/pdf en http://irep.iium.edu.my/75396/2/75396%20-Financial%20Consumers%20Protection%20Regime%20in%20Malaysia_%20Main%20Guidelines%20Issued%20by%20Bank%20Negara%20Malaysia.pdf Hassan, Rusni and Mohamad, Nurun Nadia (2019) Financial consumers protection regime in Malaysia: main guidelines issued by Bank Negara Malaysia. International Journal of Management and Applied Research, Vol 6 (4). pp. 206-217. ISSN 2056-757X http://ijmar.org/v6n4/19-015.html
repository_type Digital Repository
institution_category Local University
institution International Islamic University Malaysia
building IIUM Repository
collection Online Access
language English
topic HG3368 Islamic Banking and Finance
spellingShingle HG3368 Islamic Banking and Finance
Hassan, Rusni
Mohamad, Nurun Nadia
Financial consumers protection regime in Malaysia: main guidelines issued by Bank Negara Malaysia
description The purpose of this paper is to discuss the financial consumer protection in Islamic banks in the context of Islamic Financial Service Act 2013 (IFSA 2013) by looking simultaneously to the standards and guidelines issued by Bank Negara Malaysia (BNM). This conceptual paper examines relevant provisions in both Acts as well as in respective standards and guidelines by BNM related to financial consumer protection. In keeping with the main focuses of BNM on promoting fair, responsible and professional conduct by financial services providers to secure financial stability, this paper highlights the provisions which need to be adhered by the Islamic banks in treating their financial consumers. The discussions of the relevant provisions, standards, and guidelines will enrich the academic understanding of financial consumer protection in Malaysia. This study provides an insight on the initiatives taken in Malaysia particularly in the Islamic banking industry to protect the financial consumers.
format Article
author Hassan, Rusni
Mohamad, Nurun Nadia
author_facet Hassan, Rusni
Mohamad, Nurun Nadia
author_sort Hassan, Rusni
title Financial consumers protection regime in Malaysia: main guidelines issued by Bank Negara Malaysia
title_short Financial consumers protection regime in Malaysia: main guidelines issued by Bank Negara Malaysia
title_full Financial consumers protection regime in Malaysia: main guidelines issued by Bank Negara Malaysia
title_fullStr Financial consumers protection regime in Malaysia: main guidelines issued by Bank Negara Malaysia
title_full_unstemmed Financial consumers protection regime in Malaysia: main guidelines issued by Bank Negara Malaysia
title_sort financial consumers protection regime in malaysia: main guidelines issued by bank negara malaysia
publisher New Millennium Discoveries, UK
publishDate 2019
url http://irep.iium.edu.my/75396/
http://irep.iium.edu.my/75396/
http://irep.iium.edu.my/75396/2/75396%20-Financial%20Consumers%20Protection%20Regime%20in%20Malaysia_%20Main%20Guidelines%20Issued%20by%20Bank%20Negara%20Malaysia.pdf
first_indexed 2023-09-18T21:46:40Z
last_indexed 2023-09-18T21:46:40Z
_version_ 1777413496148852736

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