Bank Negara Malaysia (BNM) has addressed the recent disturbances caused by service outages in two of the country’s major banks, emphasizing the seriousness with which it regards such disruptions.
Full explanation report required from the banks
In a statement, BNM also said that the incidents, which left customers facing considerable inconvenience, have been met with a swift response, ensuring the restoration of normal banking operations.
BNM has mandated that these financial institutions promptly inform and engage with affected clients, addressing complaints and providing updates on the impacted services efficiently.
Further, the central bank has demanded a comprehensive report from the involved banks, detailing the primary causes of the outages and outlining the steps taken to rectify and prevent future occurrences.
BNM has required the banks to provide a full explanation of the root cause leading to the incidents, as well as corrective and preventive measures undertaken to avoid a recurrence of similar issues.
“BNM expects all banking institutions to maintain high availability of banking services at all times. BNM will not hesitate to take further supervisory actions where banks have fallen short of our regulatory and supervisory expectations,” it added.
BNM takes a serious view of the recent banking services outages by two of our largest banking institutions which have caused disruptions and inconvenience to customers. Both banks have since restored normal banking services.
— Bank Negara Malaysia (@BNM_official) April 9, 2024
Read our press release here: https://t.co/eqBZY7w21W pic.twitter.com/klS93WNqVO
Meanwhile, Maybank announced on X yesterday (9 April) that its services were down on 5 April at around 9.20pm and that it took more than two hours to restore services.
Maybank's official statement regarding issue on 5th April 2024. pic.twitter.com/YTKqdimf6I
— Maybank (@MyMaybank) April 9, 2024
