Kuala lumpur: Bank Negara Malaysia (BNM) has imposed an administrative monetary penalty totaling RM3.445 million on Bank Islam Malaysia Bhd (BIMB) for non-compliance with the Islamic Financial Services Act 2013 and the relevant policy documents.

According to BERNAMA News Agency, the relevant policy documents include the Risk Management in Technology Policy Document and the Anti-Money Laundering Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions Policy Document. BNM stated that BIMB paid RM1.70 million for the penalty imposed on May 29, 2025, due to sanction screening breaches and RM1.745 million for the penalty imposed on June 30, 2025, related to prolonged service disruptions.

Separately, the central bank reported that it has imposed a penalty of RM2.85 million on Bank Kerjasama Rakyat Malaysia Bhd for non-compliance with the Development Financial Institutions Act 2002 and the Risk Management in Technology Policy Document. BKRM paid the RM2.85 million penalty on June 26, 2025.

Additionally, BNM announced it imposed a penalty of RM995,000 on Bank Simpanan Nasional for non-compliance with the Development Financial Institutions Act 2002 and the Risk Management in Technology Policy Document. BSN paid the RM995,000 penalty on June 25, 2025, as per BNM’s statement.