Section K · Financial and insurance/takaful activities/Activity (5-digit)
64191

Commercial Banks

This activity covers the provision of financial services by commercial banks, which includes accepting deposits, providing loans, and offering various financial products to individuals and businesses. It encompasses activities such as the management of checking and savings accounts, as well as the issuance of credit and debit cards.

Foreign equity capped

Foreign equity capped at 30%.

Foreign equity
30%
Capital floor
None
Standard Sdn Bhd RM 1
Key licences
1
1 mandatory
Setup timeline
8–12 wk
Foreign Sdn Bhd via Emerhub
Set up for this MSICOne-business-day quote · MSIC 64191 pre-filled
Investment policy

Foreign ownership rules

Foreign ownership rules

  • Banking — Commercial BankscappedBNM

    Foreign equity in commercial banks capped at 30% by policy (case-by-case approvals up to higher levels). Subject to Financial Services Act 2013. BNM approval required.

    Foreign cap: 30%
    Source

Sourced from MIDA sector booklets and respective regulators. Verify the latest rules with the regulator before investment decisions.

What you'll need to apply for

Licences & permits

Licences & permits

Specific to this activity
Mandatory
Common requirements for most Malaysian businesses6

Have Emerhub file every licence above for you

We'll prepare the forms, liaise with each agency and track approvals — bundled with Sdn Bhd setup. Agency fees are paid to the issuing authority; our service fee is quoted separately.

Get a quote

Source: MalaysiaBiz / BLESS licence catalog.

Laws of Malaysia

Governing legislation

Federal Acts that regulate this activity

Traced through the business licences these Acts govern.

For SSM registration

Activity details

SST & Withholding Tax

SST Exempt
e-Invoice Required

Risk Level

Low Risk

e-Invoicing (MyInvois)

MSIC code 64191 is required when issuing e-invoices via LHDN MyInvois. Use this code in the Classification field of your e-invoice.

SSM activity-description generator