Despite a long presence in Malaysia, the contribution of foreign insurers to the overall development of the domestic insurance industry has not been at the level expected.
KUALA LUMPUR: The Financial Markets Committee (FMC) and Bank Negara have announced the operationalisation of segregated securities accounts via the Real-time Electronic Transfer of Funds and Securities System (Rentas) for payments to further develop the Malaysian bond market.
In a statement, Bank Negara said the Rentas-segregated securities account is to be operationalised in two phases, with the first commencing on May 21, while full compliance under the second by Sept 30 is to allow for an efficient transitioning into the segregated account rules.
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