Bank Negara Malaysia imposed an administrative monetary penalty of MYR 1,200,000 on Maybank Islamic Berhad for non-compliance with requirements governing the submission of credit information to the Central Credit Reference Information System (CCRIS). The non-compliance related to reporting on financing facilities and affected three borrowers’ credit records. The penalty was imposed under section 155(3)(b) of the Islamic Financial Services Act 2013, read together with paragraphs 21.1 and 21.2 of the CCRIS – Requirements on the Submission, Usage and Protection of Credit Information Policy Document (issued 1 December 2023), which requires timely, accurate and complete CCRIS submissions. Bank Negara Malaysia took into account the impact on critical data and reporting, the rectification and remedial actions taken, and Maybank Islamic’s past compliance record; the penalty was paid on 11 March 2025.
Bank Negara Malaysia 2025-05-28
Bank Negara Malaysia fines Maybank Islamic Berhad MYR 1.2 million for CCRIS credit information reporting breaches
Bank Negara Malaysia fined Maybank Islamic Berhad MYR 1,200,000 for failing to comply with credit information submission requirements to the Central Credit Reference Information System (CCRIS). The breach affected three borrowers' credit records and was penalized under the Islamic Financial Services Act 2013. The penalty considered the impact on data, remedial actions, and Maybank Islamic's compliance history.