BNM issues policy document on Currency Processing Business

29 July 2024

On 26 June 2024, Bank Negara Malaysia (“BNM”) issued a policy document on Currency Processing Business, which took effect on 1 July 2024. The policy document sets out the standards and guidelines to be observed by Registered Currency Processors (RCPs) to ensure prudent practice, professionalism, integrity, accountability, and transparency of currency processing businesses.

The policy document covers related key areas as follows: (a) governance, (b) operational requirements, (c) risk management and internal control, and (d) information technology (IT) requirements.