Malaysia: Publication of Financial Sector Assessment Program Documentation—Detailed Assessment of Observance of Insurance Core Principles

IMF Staff Country Reports, March 8, 2013

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Canonical URL: Malaysia: Publication of Financial Sector Assessment Program Documentation—Detailed Assessment of Observance of Insurance Core Principles

Report type: IMF Staff Country Report assessing insurance core principles in Malaysia.
Purpose: Analysis of the regulatory and supervisory framework of the insurance sector of Malaysia.
Principal supervisory authority evaluated: Bank Negara Malaysia (BNM).

The assessment gives a clear understanding of the regulatory and supervisory framework of the insurance sector of Malaysia.
Bank Negara Malaysia (BNM) is assessed as the best insurance regulator in this region.
The insurance sector accounts for six percent of the financial sector.
The assessment did not reveal any current potential sources of significant risk to Malaysian financial stability from its insurance industry.

Subject areas covered include:
- Anti-money laundering and combating the financing of terrorism (AML/CFT)
- Capital adequacy requirements
- Corporate governance
- Crime
- Economic sectors
- Financial institutions
- Financial regulation and supervision
- Insurance and insurance companies
Keywords and technical terms preserved from the assessment: Anti-money laundering and combating the financing of terrorism (AML/CFT), BNM guidance, BNM guideline, BNM staff, BNM supervisor, Capital adequacy requirements, corporate governance, Corporate governance, CR, Global, Insurance, Insurance companies, ISCR, risk management, takaful operator

The Executive Board expects further enhancement for an effective insurance sector.
No immediate significant systemic risks identified; focus is on continued enhancements to regulation and supervision.