Lawyerment - Document Library - Malaysia Banking and Financial Law

Lawyerment Quick Link - Home - Free Email - Message Boards - LawCrawler - Legal News - Legal Dictionary - Lawyers Jokes - Lawyers Directory - Newsletters - Legal Guide - Refer A Friend - Interesting Facts - Library - Downloads - >> more

Library Search

How to Contribute
Disclaimer

Featured Publications
Lawyerment's Contributors

Legal Subjects
Forms & Agreements

Legal Subjects > Banking and Financial Law

Main Categories

>Laws of Malaysia
>Legal Professionals
>Students
>Business & The Public
>Accident Law
>Bankruptcy Law
>Business Law
>Criminal Law
>Employment Law
>Estate Planning
>Family Law
>Financial Law
>Immigration Law
>Insurance Law
>Intellectual Property
>Litigation
>Real Estate Law
>Tax Law

Main Category

Library > Legal Subjects > Banking and Financial Law

Related Category

Library > Legal Subjects > Litigation > Civil Matters

Related Topics

HOW IS THE OWNERSHIP AND MANAGEMENT OF A BANKING AND FINANCIAL INSTITUTION IN MALAYSIA ?

No person shall accept appointment or election as a director of a bank or financial institution without prior written consent of the Central Bank of Malaysia.

Any acquisition or disposal of an aggregate interest in shares of a bank or financial institution of not less than 5% of the shares of that institution must obtain the prior written approval of the Minister of Finance to enter into such agreement or arrangement

No person shall without the approval from the Minister of Finance, hold more than the following percentages of interests in shares of a bank or financial institution

10% in the case of an individual and
20% in the case of a person other than an individual.

A bank or financial institution shall not hold interest in the shares

where it is a licensed bank, of another licensed bank established in Malaysia, or of a subsidiary of another licensed institution which is not related to it
where it is a licensed finance company, discount house or money-broker, of another licensed institution, or of a subsidiary of another licensed institution which is not related to it or
where it is a licensed merchant bank, of another licensed bank or licensed merchant bank established in Malaysia, or of a subsidiary of another licensed institution which is not related to it.

Every bank or financial institution shall appoint a chief executive of the institution who shall be

an individual and
resident in Malaysia during the period of his appointment.

However, before appointing a chief executive, a bank or financial institution shall seek and obtain the Central Bank of Malaysia's written approval for the proposed appointment.