Management of Customer Information and Permitted Disclosures

Financial service providers (FSPs) handle a significant amount of customer information in the course of providing financial services and products. Proper handling of customer information is essential in building public trust and confidence and in mitigating reputational damage to FSPs. It is therefore critical for FSPs to protect customer information against theft, loss, misuse, or unauthorised access, modification, or disclosure by any means, including verbal or written disclosure.

This policy document sets out Bank Negara Malaysia’s requirements and expectations regarding FSPs’ measures and controls in handling customer information throughout its lifecycle, covering collection, storage, use, transmission, sharing, disclosure, and disposal, in line with the laws administered by the Bank such as the Financial Services Act 2013, Islamic Financial Services Act 2013, and Development Financial Institutions Act 2002 (DFIA).

This policy document also sets out the conditions specified by the Bank regarding disclosure of customer information in accordance with the permitted disclosures set out in Schedule 11 of the FSA and IFSA, as well as the Fourth Schedule of the DFIA.

This document belongs to Bank Negara Malaysia (BNM). Full access to the original source is available here: https://www.bnm.gov.my/banking-islamic-banking