Banking and Financial Institutions Act 1989
E818516
The Banking and Financial Institutions Act 1989 was a key Malaysian law that regulated the operations and supervision of banking and financial institutions prior to its replacement by more modern financial legislation.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Banking and Financial Institutions Act 1989 canonical | 1 |
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
Malaysian federal statute
ⓘ
financial regulation law ⓘ |
| administeredBy | Bank Negara Malaysia NERFINISHED ⓘ |
| appliesTo |
approved financial institutions in Malaysia
ⓘ
licensed banks in Malaysia ⓘ licensed finance companies in Malaysia ⓘ licensed merchant banks in Malaysia ⓘ |
| contains |
provisions on inspection of books and accounts
ⓘ
provisions on intervention and assumption of control by the central bank ⓘ provisions on licensing criteria ⓘ provisions on limits on credit facilities ⓘ provisions on minimum capital funds ⓘ provisions on offences and penalties ⓘ provisions on reserve requirements ⓘ provisions on restrictions on shareholdings ⓘ provisions on submission of information and returns ⓘ |
| country | Malaysia ⓘ |
| jurisdiction | Malaysia NERFINISHED ⓘ |
| languageOfText |
English
ⓘ
Malay ⓘ |
| legalSystem | common law ⓘ |
| purpose |
to promote the soundness and stability of the Malaysian financial system
ⓘ
to protect depositors and customers of financial institutions ⓘ to provide a comprehensive framework for the regulation and supervision of banking and financial institutions in Malaysia ⓘ |
| region | Southeast Asia ⓘ |
| regulates |
banking business in Malaysia
ⓘ
discount houses in Malaysia ⓘ finance companies in Malaysia ⓘ financial institutions in Malaysia ⓘ merchant banks in Malaysia ⓘ money-broking business in Malaysia ⓘ offshore banking business in Malaysia ⓘ |
| replacedBy |
Financial Services Act 2013
NERFINISHED
ⓘ
Islamic Financial Services Act 2013 NERFINISHED ⓘ |
| sector |
banking regulation
ⓘ
financial services regulation ⓘ |
| shortName | BAFIA 1989 NERFINISHED ⓘ |
| status | repealed ⓘ |
| subjectMatter |
bank secrecy and confidentiality
ⓘ
capital adequacy requirements ⓘ consumer protection in banking ⓘ investigation and enforcement powers ⓘ licensing of banking institutions ⓘ ownership and control of financial institutions ⓘ penalties for regulatory breaches ⓘ prudential supervision of financial institutions ⓘ restrictions on banking activities ⓘ winding up of financial institutions ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.