This policy outlines BNM’s updated requirements and guidance for implementing electronic Know-Your-Customer (e-KYC) solutions in the financial sector, covering both individuals and legal entities. The aim is to embrace technological advancements for secure e-KYC adoption while upholding financial system integrity. Additionally, BNM has revised its FAQ document to address common queries regarding the updated policy.
- Issuance Date: April 15, 2024
- Effective Date: April 15, 2024
- Issuing Department: Financial Development and Innovation Department
- Applicability:
- Licensed banks
- Licensed investment banks
- Licensed Islamic banks
- Licensed life insurers
- Licensed family takaful operators
- Prescribed development financial institutions
- Licensed money services businesses
- Approved issuers of designated payment instruments and designated Islamic payment instruments
Read the full policy document below
By FCCT Editorial Team
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