MBI, Mface placed on Bank Negara's financial alerts

According to UBS, Bank Negara is likely to cut its overnight policy rate by 25 basis points in 2015, with lower oil prices cushioning the pressure on inflation.

KUALA LUMPUR: MBI International Sdn Bhd and Mface International have been placed on Bank Negara Malaysia's (BNM) alert list with effect from Monday for unlicensed activities.

According to BNM's website, both companies were added to to list of companies and websites which are neither authorised nor approved under the relevant laws and regulations administered by the central bank. 

The list of 302 companies was to alert the members of the public a list of unauthorised and nor approved companies and websites.

MBI International and Mface International have the same website, is  which is http://www.mbiv2u.com/

BNM also said the list of companies and websites was not exhaustive and only serves as a guide to members of the public based on information and queries received by BNM.

“The list will be updated regularly for public's reference,” it said. Click here http://www.bnm.gov.my/index.php?ch=en_financialconsumeralert

Only financial institutions, that is banks, insurance companies and takaful operators as well as money changers, remittance service providers and currency wholesalers (currently known as "the money services business") licensed by BNM under the relevant laws and regulations administered by BNM are allowed to provide financial services in Malaysia.