Operational resilience of financial institutions is critical to ensure continuity in the provision of financial services through periods of disruptions, maintain orderly market conditions and sustain public confidence in the financial system.
Business continuity is an integral pillar of operational resilience. Business continuity management (BCM) entails an enterprise-wide framework, policies and processes that enable financial institutions to respond, recover and resume operations of critical business functions from operational disruptions that arise from internal or external risk events. Effective BCM can minimise operational, financial and reputational risks that can materially impact financial institutions.
This policy document aims to–
(a) facilitate the development and implementation of a robust BCM framework, policies and processes by financial institutions which are integrated with their overall risk appetite and reinforce sound risk management practices;
(b) strengthen the capacity and preparedness of financial institutions to respond and recover from operational disruptions; and
(c) preserve the continuity of critical business functions and essential services within a specified timeframe in the event of an operational disruption.
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
