Bank Negara payments systems law effective Nov 1

Malaysia's Payment Systems Act 2003, will come into force on 1 November to ensure the efficient functioning and stability of the payments system. "The Act empowers the central bank to designate payment systems with systemic implications for closer oversight," Bank Negara Malaysia said.

Source: The Edge Daily

A new act, the Payment Systems Act 2003, will come into force on Nov 1 to ensure the efficient functioning and stability of the payments system as well as to preserve the confidence in the