Zafrul: Complain to Bank Negara if opening bank account still an issue
PARLIAMENT | Anyone facing issues opening a bank account may choose to complain to Bank Negara Malaysia if the complaints unit of any bank is unable to provide a solution, said Finance Minister Tengku Zafrul Abdul Aziz.
He said this in his written response to Teresa Kok (DAP-Seputeh) who asked whether Bank Negara had issued instructions to local banks to delay or reject applications to open new bank accounts by new associations.
“Bank Negara has never...
PARLIAMENT | Anyone facing issues opening a bank account may choose to complain to Bank Negara Malaysia if the complaints unit of any bank is unable to provide a solution, said Finance Minister Tengku Zafrul Abdul Aziz.
He said this in his written response to Teresa Kok (DAP-Seputeh) who asked whether Bank Negara had issued instructions to local banks to delay or reject applications to open new bank accounts by new associations.
“Bank Negara has never issued instructions to local banks to delay or reject bank account applications by new associations.
“In general, the process of approving the opening of savings allowances and current accounts involves a customer due diligence process to ensure that the account is not used for money laundering purposes.
“Financial institutions are required to identify and verify the customer's identity using valid documents and sources,” said Zafrul.
He noted that this procedure was in line with the rulings made by the international standard-setting body, the Financial Action Task Force.
“Account openers are advised to provide all documents and information requested by financial institutions to facilitate the account opening process.
“Any parties, including associations, who face problems in relation to opening a bank account are advised to refer this matter to the complaints unit of the relevant bank for clarification and further consideration,” he added.
He said if customers were still having issues opening an account, they can lodge a complaint to BNMTELELINK at 1-300-88-5465 or via the web form.
The Seputeh MP had, in a previous statement, called on the government to look into such claims that certain banks have delayed and refused to allow associations to open new accounts.
Kok had claimed the applications could be pushed back indefinitely if the associations included politically exposed figures in their committees
Kok alleged that she had received a number of complaints on the issue, which she felt had spiked when banks became more cautious following the 1MDB scandal.
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