Bank to appoint acting chairman

PETALING JAYA: Bank Rakyat has announced that a board member will be appointed as acting chairman, assuring its customers that it is “business as usual”.

This comes after the top two men in the bank were questioned and detained by the Malaysian Anti-Corruption Commission (MACC).

In a statement, Bank Rakyat said the appointment would be carried out after getting approval from the Domestic Trade, Co-operatives and Consumerism Minister.

It said a Board Oversight Committee (BOC), which the bank management will report to, would also be set up.

“Among the duties of the BOC are to ensure smooth operations of the bank and compliance with the standards set by Bank Negara in its banking processes as well as identifying the steps to be taken to improve the management,” it said.

The setting up of the BOC is “effective immediately”.

“The management will ensure that Bank Rakyat will operate its business as usual and continue to serve its customers with no disruption to its business,” it said.