Bank Negara guards against financial hiccups

Bank Negara governor Datuk Abdul Rasheed Ghaffour

KUALA LUMPUR: Bank Negara is calling for the extension of recovery and resolution planning to non-members of Malaysia Deposit Insurance Corp or PIDM, in an effort to better prepare the financial sector for potential uncertainties.

Notably, last year PIDM introduced resolution planning requirements for its member banks. Currently, PIDM’s membership includes licensed banks and licensed Islamic banks.