Bank Negara Act change to ensure smooth operation

MALAYSIA - Amendments to the Bank Negara Malaysia (BNM) Act will ensure smooth operation in handling the BNM's credit bureau and strengthen the country's financial system.

Tabling the bill, Deputy Finance Minister Datuk Dr Shafie Mohd Salleh said the cheques bureau and credit bureau will be combined to allow sharing of information for the purpose of credit valuation.

This is because, he said, under the existing law, BNM's utilisation of the clients' credit information is limited.

He said the che