AmBank Group fined RM53.7mil by Bank Negara

PETALING JAYA: AMMB Holdings Bhd (AmBank Group) has been slapped with a RM53.7mil fine by Bank Negara.

According to a filing by the sixth-largest lender in Malaysia, the penalty has come about as a result of a breach of certain regulations under Sect 234 of the Financial Services Act 2013 and Sect 245 of the Islamic Financial Services Act 2013 by AmBank (M) Bhd and AmBank Islamic Bhd, respectively.

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