Central Bank of Malaysia Act 2009 · Updated to 1 Nov 2020 · Part XIII · Officers and Employees
Section 84
Feedback & supportWithout prejudice to subsections 83(4) and (5), but subject to subsections (2), (3) and (4), the Bank shall not extend financing to an officer or employee.
Bank
“Bank” means Bank Negara Malaysia or in English, the “Central Bank of Malaysia”;
The Bank may extend financing to an officer or employee upon such terms and conditions as the Board may determine—
financing
“financing” means the giving of any advance, loan, credit or other facility in whatever form or by whatever name called, including the giving of a guarantee or undertaking of any surety obligations for another person and where such financing is extended in accordance with the Shariah shall include, and may be in the form of, without limitation, any sale or purchase arrangement, joint venture arrangement, deferred payment sale, return sharing arrangement or any other financing arrangement made in accordance with the Shariah;
for the purchase, erection, alteration, renovation or enlargement of a house in which he resides or intends to reside;
to discharge a mortgage or encumbrance on such a house; or
for the purchase of a vehicle.
The Bank may, where the Governor is satisfied that special or compassionate circumstances exist or the purpose is appropriate, extend financing to an officer or employee on such terms and conditions as the Governor may determine, not exceeding at any one time an amount equal to three months’ salary of the officer or employee.
The Bank may extend financing for studies or scholarships to any officer or employee of the Bank or any child, including a step-child or adopted child of such officer or employee, or to any suitable person, in accordance with such terms and conditions as may be approved by the Board generally or in any particular case.
officer
“officer” means any officer of the Bank appointed under section 83; Central Bank of Malaysia 15