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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| Format: | Article |
| Language: | English |
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New Millennium Discoveries, UK
2019
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| Subjects: | |
| Online Access: | 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 |
| _version_ | 1848788117932212224 |
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| author | Hassan, Rusni Mohamad, Nurun Nadia |
| author_facet | Hassan, Rusni Mohamad, Nurun Nadia |
| author_sort | Hassan, Rusni |
| building | IIUM Repository |
| collection | Online Access |
| 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. |
| first_indexed | 2025-11-14T17:35:44Z |
| format | Article |
| id | iium-75396 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T17:35:44Z |
| publishDate | 2019 |
| publisher | New Millennium Discoveries, UK |
| recordtype | eprints |
| repository_type | Digital Repository |
| 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 |
| spellingShingle | HG3368 Islamic Banking and Finance Hassan, Rusni Mohamad, Nurun Nadia Financial consumers protection regime in Malaysia: main guidelines issued by Bank Negara Malaysia |
| title | 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_short | 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 |
| topic | HG3368 Islamic Banking and Finance |
| 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 |