Banks ordered to provide no-frills accounts


  • Nation Premium
  • Friday, 21 Jan 2005

PETALING JAYA: Bank Negara has ordered all commercial banks and financial institutions to offer no-frills savings and current accounts to enable all, especially the poor, to enjoy basic banking services. 

To be called Basic Savings Account (BSA) and Basic Current Accounts (BCA), the central bank said in a statement yesterday that these facilities are to be available from Feb 1 to all Malaysians and permanent residents.  

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