Function and role of Bank Negara

The functions of Bank Negara are issuer of notes and coins and it acts as banker to the central government. Besides, among the major role of the Bank is the prudent conduct of monetary policy, which has seen generally low and stable inflation for decades and thereby, preserving the purchasing power of the ringgit. The Bank is also responsible for bringing about financial system stability and fostering a sound and progressive financial sector. There is now in place a well diversified, comprehensive and resilient financial sector, that is able to meet the increasingly sophisticated needs of consumers and businesses, and which has become a growth driver in the economy.

Function of Bank Negara to Commercial Bank

Members of the public are reminded to use the services offered by commercial banking institutions or the 45 non-bank remittance service providers approved by Bank Negara Malaysia to transfer funds abroad. In Malaysia's more liberalized financial environment, members of the public are free to transfer funds through these authorised entities. The list of commercial and Islamic banks, as well as approved non-bank remittance service providers can be obtained from the BNM website. 

List of Commercial Bank:

By: Jeff Wong