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Questions and Answers
What is the purpose of the Financial Services Act 2013?
What is the purpose of the Financial Services Act 2013?
- To consolidate the regulatory and supervisory framework for Malaysia's banking industry, insurance industry, payment systems, and other relevant entities (correct)
- To promote the development of effective and efficient development financial institutions
- To set out the regulatory framework for Malaysia's Islamic financial sector
- To regulate the money services business industry
What is the difference between the Central Bank of Malaysia Act 1958 and the Central Bank of Malaysia Act 2009?
What is the difference between the Central Bank of Malaysia Act 1958 and the Central Bank of Malaysia Act 2009?
- The Central Bank of Malaysia Act 1958 promoted the development of effective and efficient development financial institutions, while the Central Bank of Malaysia Act 2009 did not
- The Central Bank of Malaysia Act 2009 provides for the establishment, administration and powers of the bank, while the Central Bank of Malaysia Act 1958 does not (correct)
- The Central Bank of Malaysia Act 2009 provides for the regulation of money services business industry, while the Central Bank of Malaysia Act 1958 does not
- The Central Bank of Malaysia Act 1958 repealed the Development Financial Institutions Act 2002, while the Central Bank of Malaysia Act 2009 did not
What is the Islamic Financial Services Act 2013?
What is the Islamic Financial Services Act 2013?
- An act that sets out the regulatory framework for Malaysia's Islamic financial sector (correct)
- An act that promotes the development of effective and efficient development financial institutions
- An act that provides for regulation of money services business industry
- An act that consolidates the regulatory and supervisory framework for Malaysia's banking industry, insurance industry, payment systems, and other relevant entities
