All your essential financial services will continue to operate during the Movement Control Order period, so if you need to go to the bank and do your transactions, go ahead, no one is stopping you!
Bank Negara Malaysia (BNM) confirms that the public will continue to have nationwide access to essential financial services.
Photo via The Star
All banking institutions, development financial institutions, insurance companies and takaful operators will ensure the continued operation of:
Uninterrupted access to self-service terminals (e.g. ATMs, cash deposit machines) at all branches and accessible locations under the Government’s Movement Control Order;
Electronic banking, mobile banking, money changing and remittance services, payment card services, and other online services;
Processing and approval of new loans or financing applications, and;
Processing and handling of insurance/takaful claims, issuance of guarantee letters and annual renewal of insurance policies/takaful certificates.
The branches of these financial service providers will remain open during this containment period to provide essential services to the public.
The public are advised to refer to their provider’s website or customer service hotlines for further information on services available at the providers’ premises during this period.
So stay calm and be patient, guys! BNM is making sure that all financial service providers roll-out their respective crowd containment and management measures to ensure the safety and health of their customers and employees.
Meanwhile, selected non-bank money changers and remittance service providers will remain open at least three days a week to ensure availability of money changing and remittance services throughout this period.
If you’re the type who doesn’t carry cash or if you prefer to do all your transactions online, then BNM have also advised all e-payment providers to ensure no interruptions to all payments and money transfer facilities transacted through their customers’ e-wallets and e-accounts.
The Malaysian financial market will remain accessible and open as per regular trading hours throughout the movement control period.
Bank Negara Malaysia will continue to provide sufficient liquidity in the foreign exchange, bond and money markets to ensure uninterrupted financial intermediation.
BNM also encourages the public to use electronic and online services to facilitate social distancing to ensure effective containment of Covid-19.
If you have been facing financial distress resulting from the Covid-19 outbreak, BNM has advised you to contact your financial service provider early to discuss alternative repayment measures.
Contact the customer service centres of financial service providers directly for enquiries or assistance.
The contact points for industry associations of financial service providers are listed below:
- Association of Banks Malaysia (ABM) - 03 2078 8041 or ABM Connect at 1-300-88-9980 or eABMConnect
- Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) - 03 2026 8002/8003 or staff@aibim.com
- Association of Development Financial Institutions Malaysia (ADFIM) - 03 2694 9871 or adfim@adfim.com.my
- Life Insurance Association of Malaysia (LIAM) - 03 2691 6168/6628 or liaminfo@liam.org.my
- Persatuan Insurans Am Malaysia (PIAM) - 03 2274 7399 or visit their website.
- Malaysian Takaful Association (MTA) - 03 2031 8160 or mtasecretariat@malaysiantakaful.com.my
- Malaysian Association of Money Services Business (MAMSB) - 03 7722 5808 or visit their website.
BNMLINK services for walk-in visitors will not be available to the public from 18 March until 31 March 2020. However, members of the public can contact BNM through these following channels or refer to the BNM website for further updates:
- eLINK; or
- BNMTELELINK (Tel: 1-300-88-5465) from Monday to Friday (9.00 a.m. - 5.00 p.m.)
By: Aishah Akashah Ahadiat
