Bank Negara to name and shame errant banks from Jan 1, 2018

KUALA LUMPUR: Effective Jan 1, 2018, Bank Negara Malaysia (BNM) will reveal the identity of financial institutions that are penalised by the central bank.
This will include information on the misconduct and financial penalties.
“We’ve informed the banks this morning about this. We’ll disclose it transparently,” BNM governor Datuk Muhammad Ibrahim said yesterday.
In the latest case, BNM imposed a fine of RM1.4 million on an unnamed financial institution for not promptly informing the central bank of its dealers’ misconduct involving the fixing of the US dollar/ringgit exchange rate.
On another issue, Muhammad said BNM has started to engage with the special task force set up to investigate the foreign exchange losses incurred by the central bank some 25 years ago.
He said the first interaction happened last week. “We’ll give all assistance to the task force. That’s our commitment,” he added.
Former BNM governor Tan Sri Dr Zeti Akhtar Aziz has also said she is willing to extend her cooperation to the task force.