Malaysia’s central bank toughens corporate governance standards
Boards must promote “ethical, prudent and professional” behaviour, central bank says
Malaysia's central bank announced tighter corporate governance standards for financial institutions under its supervision on August 3.
The new standards focus particularly on promoting ethical behaviour and increasing the number of independent board members for financial institutions.
The new rules are applicable to all banks, insurers, financial holding corporations and Islamic financial bodies regulated by the Bank Negara Malaysia (BNM).
Most of the new measures will "take effect immediately"
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