Malaysian business licence·Federal
BNM Commercial Banking Licence (FSA 2013)
Issued by Bank Negara Malaysia (BNM)Financial Services Act 2013
Overview
A commercial banking licence from BNM is required to accept deposits and provide banking services to the public. Minimum paid-up capital RM 2 billion; subject to BNM's fit-and-proper, governance and prudential requirements.
Key details
Governing Act
Financial Services Act 2013
Agency fees
Varies by agency — see official source
Validity
Annual renewal typical
Issuing authority
Bank Negara Malaysia (BNM)
Fees shown are government / local-authority fees payable to the issuing agency. Emerhub charges a separate service fee for handling the application end-to-end.
Which businesses need it
Mandatory
- 64191Commercial BanksItem · Issued by BNM under the Financial Services Act 2013. Subject to BNM's prudential conditions, fit-and-proper, and minimum capital requirements (RM 2bn paid-up for commercial banks).
- 64193Offshore BanksItem · Issued by BNM under the Financial Services Act 2013. Subject to BNM's prudential conditions, fit-and-proper, and minimum capital requirements (RM 2bn paid-up for commercial banks).
- 64199Other monetary intermediation (with deposits taking functions) n.e.c.Item · Issued by BNM under the Financial Services Act 2013. Subject to BNM's prudential conditions, fit-and-proper, and minimum capital requirements (RM 2bn paid-up for commercial banks).