BNM imposes RM88,000 penalty on Bank of China (M) Bhd

KUALA LUMPUR: Bank Negara Malaysia (BNM) had, on July 22 2024, imposed an Administrative Monetary Penalty (AMP) of RM88,000 on Bank of China (Malaysia) Bhd (BOCM) for failure to comply with the prudential requirements applicable to the material outsourcing arrangements.

BOCM paid RM88,000 for the AMP imposed by BNM on Aug 2, 2024.