Bank Negara Malaysia has opened a consumer survey to assess how effectively financial service providers disclose fees and charges for financial products and services, drawing on consumers’ experiences with products they have considered or used over the past two years. The survey sits alongside expectations that banks, insurers, takaful operators and e-money issuers disclose all fees and charges at the point of sign-up, inform consumers of any changes, and ensure that fees are fair and reflect actual service costs. It also reiterates that complaints related to fees and charges should be handled promptly and fairly. Responses can be submitted until 30 June 2025.
Bank Negara Malaysia 2025-05-22
Bank Negara Malaysia launches consumer survey on financial product fees and charges disclosures
Bank Negara Malaysia has launched a consumer survey to evaluate the transparency of fee disclosures by financial service providers. The survey aims to gather consumer experiences with financial products over the past two years, emphasizing the need for clear, fair, and cost-reflective fee disclosures.