Malaysian governor warns of banks ‘falling short’ on basic services
Muhammad bin Ibrahim voices concerns about communications from some frontline staff; instructs banks to remove “prohibitive conditions” attached to basic accounts
Some banks are "falling short" on the provision of basic services, warned Bank Negara Malaysia's governor, Muhammad bin Ibrahim, today (May 26).
While financial services are becoming more accessible – 92% of the population now has access to some sort of financing – the central bank is concerned about "poor communications" about basic products.
"In some cases, prohibitive conditions are attached to the opening of basic banking accounts, in clear violation of Bank Negara Malaysia's requirements,"
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