Bank Negara Penalises 13 Money Services Firms for Falling Short of Capital Requirements
Central bank acts against regulatory breaches
KUALA LUMPUR, Feb 25 — Bank Negara Malaysia has taken enforcement action against 13 licensed money services businesses for failing to maintain the minimum capital funds required under regulatory rules.
In a statement released today, the central bank said the breaches occurred between July and December 2025, with administrative monetary penalties ranging from RM1,500 to RM2,000 imposed on each licensee.
The affected companies include Foo In Sdn Bhd, Starling Peak International Sdn Bhd, Tukaran Baik Sdn Bhd, DB Global Exchange Sdn Bhd, Best Rate Galaxy Sdn Bhd, First Million Avenue Sdn Bhd, Popular Forex Sdn Bhd, Kabir Exchange Sdn Bhd, Mubarak Forex Exchange Sdn Bhd, True Ringgit Sdn Bhd, Alif Money Changer Sdn Bhd, Heng Loong Money Changer Sdn Bhd and Chop Soon Sheng Sdn Bhd.
These firms operate legally within Malaysia’s money services sector, providing foreign exchange and related financial services under the supervision of Bank Negara Malaysia.
Capital adequacy crucial to ensure operational resilience
BNM emphasised that maintaining adequate capital is essential to ensure the stability and sustainability of licensed businesses.
Sufficient capital allows companies to continue operating effectively, manage financial risks and meet customer needs.
The central bank added that capital requirements also serve to protect consumers and uphold confidence in Malaysia’s financial system.
When determining the penalties, BNM considered factors such as the frequency of non-compliance and the companies’ past regulatory history.
This ensures that enforcement measures are proportionate to the severity of the breaches.
Corrective actions taken to restore compliance
BNM confirmed that all affected companies have paid the fines imposed.
In addition, they have taken steps to strengthen their capital positions in order to comply with regulatory requirements.
These corrective measures are necessary to ensure continued compliance and prevent further enforcement action.
BNM vows continued enforcement to uphold financial integrity
The central bank reiterated that all licensees are required to comply fully with legal and regulatory obligations.
It warned that appropriate enforcement action will continue to be taken against any entity that fails to meet these standards.
The move reflects Bank Negara Malaysia’s ongoing commitment to ensuring a stable, transparent and well-regulated financial services sector while safeguarding public confidence.
-wilayah.com.my
