Member Article

Dear valued clients, colleagues and friends,

We are pleased to bring you the latest legal updates for July 2022.

Financial Services

On 30 June 2022, Bank Negara Malaysia issued a policy document on Bancassurance/Bancatakaful.

The policy document shall come into effect on 1 January 2023 (except paragraphs 9.12 to 9.14 which have come into effect from 30 June 2022). The policy document supersedes: (i) the Guidelines on Bancassurance and the Guidelines on

Bancatakaful, each issued on 17 June 2010; and (ii) the Circular on Marketing of Bancassurance / Bancatakaful Products issued on 24 December 2008.

The policy document is applicable to financial services providers, which are, licensed insurers, licensed banks and licensed investment banks under the Financial Services Act 2013, licensed takaful operators and licensed Islamic banks under the Islamic Financial Services Act 2013 as well as prescribed institutions under the Development Financial Institutions Act 2002.

Policy document on Bancassurance/Bancatakaful

Task Force on Climate-related Financial Disclosures (“TCFD”) Application Guide for Malaysian Financial Institutions

Sustainable and Responsible Investment linked (“SRI-linked”) Sukuk Framework