BNM wants full explanation of root cause of services outages from two banks

KUALA LUMPUR — Bank Negara Malaysia (BNM) has required two banks which experienced services outages recently to provide a full explanation of the root cause leading to the incidents.

The central bank said in a statement on Tuesday night that both banks were also required to provide corrective and preventive measures undertaken to avoid a recurrence of similar issues.

BNM said it takes a serious view of the recent banking services outages by two of our largest banking institutions which have caused disruptions and inconvenience to customers.

“Both banks have since restored normal banking services.

“The banks have also been instructed to ensure appropriate communication with affected customers, including promptly attending to any complaints and inquiries resulting from the outage and providing timely updates on services that were affected,” it said.

BNM said it expects all banking institutions to maintain high availability of banking services at all times.

“BNM will not hesitate to take further supervisory actions where banks have fallen short of our regulatory and supervisory expectations,” it said.

At 4.14pm on April 8, CIMB Group Holdings Bhd said in its X account (previously known as Twitter) that its banks were experiencing intermittent service disruption on CIMB Clicks, CIMB OCTO, FPX, MyDebit, Credit and Self Service Terminals.

At 7.10pm on the same day, the country’s third largest commercial bank by assets announced that all its services have been restored.

Meanwhile, Malayan Banking Bhd (Maybank) announced on its X account today that it experienced a disruption affecting its debit cards, online banking and ATM services on April 5 at around 9.20pm.

The largest bank by assets and market capitalisation in Malaysia said the impacted services were gradually normalised and fully recovered at 11.34 pm the same day. — BERNAMA