Monetary Penalty Review Committee
The Monetary Penalty Review Committee (MPRC) is an independent committee legislated under section 238 of the Financial Services Act 2013 (FSA) and section 249 of the Islamic Financial Services Act 2013 (IFSA). The MPRC considers appeals from persons (individuals or institutions) against the administrative monetary penalties (AMPs) or pecuniary remedies imposed by BNM in exercising its administrative enforcement powers under the FSA, the IFSA, the Development Financial Institutions Act 2002, and the Currency Act 2020 (CA)[1].
The MPRC provides an independent avenue for aggrieved parties to appeal against BNM¡¯s decisions. The MPRC may decide to either confirm BNM¡¯s decision or require BNM to reconsider and reach a decision in accordance with the findings of the MPRC. The members of MPRC are appointed by the Minister of Finance from among the Independent Non Executive Board Members of BNM or other external persons upon recommendation by BNM.
[1] For the CA, the appeals would only be against the AMPs imposed by BNM.
Profile of MPRC Members
Appeal Guidelines
An appeal to the MPRC must be filed within 21 days after the aggrieved party has been notified of BNM¡¯s decision using the Notice of Appeal Form. The detailed procedure for filing an appeal is set out in the Appeal Manual. The MPRC may decide to either confirm BNM¡¯s decision or require BNM to reconsider and reach a decision in accordance with the findings of the MPRC.
Contact Us
SecretariatMonetary Penalty Review Committee
Bank Negara Malaysia
Jalan Dato¡¯ Onn
50480 Kuala Lumpur
Telephone: 03 2604 0241
Email: mprc@bnm.gov.my
