Monetary policy is the action that Bank Negara Malaysia (BNM) takes to influence interest rates in the economy. As the central bank of Malaysia, BNM’s role is to promote monetary and financial stability. This is aimed at providing the conditions suitable for sustainable growth of the Malaysian economy.

To achieve monetary stability, our Monetary Policy Committee (MPC) sets monetary policy to keep inflation low and stable while supporting economic growth.

The MPC sets monetary policy by changing the Overnight Policy Rate (OPR). The OPR is BNM’s policy interest rate that influences, among others, banks’ lending and financing rates, as well as deposit rates. These rates tell you how much the cost of loan is, or how much the returns are for deposits. They are applicable for both conventional and Islamic finance products. To keep things simple, we refer to these as ‘interest rates’ for this FAQ.

A list of licensed money services business companies and approved money services business agents is published on BNM website. It will be updated periodically.

Please refer to this link for the full list:
https://www.bnm.gov.my/existing-regulatees

If you suspect you are a victim of a scam, your immediate actions should focus on limiting your losses and reporting the incident to the appropriate authorities.

Bank Negara Malaysia (BNM) advises that the first step is to contact your bank, followed by reporting the scam to the National Scam Response Centre (NSRC) at 997.

Members of the public are advised to exchange their defaced currency notes, tampered currency coins and demonetised currency at any financial institutions.

The financial institutions will:
compensate the public on the same day for straight forward cases of defaced currency notes; and refer to BNM for assessment on doubtful cases of defaced currency notes, tampered currency coins and demonetised currency.
BNM will compensate the public at a later date after assessment. The exchange counter at BNM Head Office and BNM Offices are closed to the public but will remain open to financial institutions only to accept (ii) above.

For further assistance, please contact:

BNM Ibu Pejabat Kuala Lumpur +603-26988044 (ext. 7390, 7416 or 7414)
BNM Office Johor Bahru +607-225 7888
BNM Office Pulau Pinang +604-258 7588
BNM Office Kuala Terengganu +609-638-2001
BNM Office Kuching +6082-224-200
BNM Office Kota Kinabalu +6088-522-310

Bank Negara Malaysia (BNM) offers financing support for SMEs through a variety of targeted funds and facilities, often distributed through participating commercial and development financial institutions.

These schemes generally provide affordable financing for specific purposes, such as digitalization, sustainability, and agricultural production.

For more information, please visit https://www.bnm.gov.my/sme-financing.