Malaysia legislation
Section 5
Section 5
Principal objects and functions of the Bank
(2)
The primary functions of the Bank are as follows:
(a)
to formulate and conduct monetary policy in Malaysia;
(b)
to issue currency in Malaysia;
(c)
to regulate and supervise financial institutions which are subject to the laws enforced by the Bank;
(d)
to provide oversight over money and foreign exchange markets;
(e)
to exercise oversight over payment systems;
(f)
to promote a sound, progressive and inclusive financial system;
(g)
to hold and manage the foreign reserves of Malaysia;
(h)
to promote an exchange rate regime consistent with the fundamentals of the economy; and
(i)
to act as financial adviser, banker and financial agent of the Government.
(3)
The Bank shall have all the powers necessary, incidental or ancillary to give effect to its objects and carry out its functions.
(4)
The Bank in giving effect to its objects and carrying out its functions under this Act shall have regard to the national interest.
20 Laws of Malaysia ACT 701