Bank Negara Malaysia – Central Bank of Malaysia
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Bank Negara Malaysia

Bank Negara Malaysia was founded on 26 January 1959 as Bank Negara Malaya under the Central Bank of Malaysia act 1958 (CBA 1958) and is literally referred as National Bank of Malaysia, commonly known as BNM. The bank, which is completely owned by the government of Malaysia, has its headquarters located at Jalan Sultan Salahuddin; off Jalan Kuching, Kuala Lumpur, capital of Malaysia. The main function of the bank is the prudent conduct of monetary policy, issuing currency and plays a role of being a banker and advisor to the government. It is responsible for stabilizing the financial system of the country’s financial sector.

In addition, BNM’s geographical reach and its products and services are complemented by the support of 37 departments or units in the bank including areas like economics and monetary policy, investment and operations, regulation, payment systems, to name a few. The bank is also responsible for regulating the country’s credit situation. The bank used to retain its branches in each of the state capitals but most of them were closed in 1990s due to the acquirement of majority of the counter services by the retail banks. At present the bank has its branches in Penang, Johor Bahru, Kota Kinabalu, Kuching, Kuala Terengganu and Shah Alam and maintains representative offices in London and New York City.

Bank Negara Malaysia History

Bank Negara Malaysia has gone through numerous leaps and bounds in its long journey since its establishment in 1959. BNM replaced the Malaya and British Borneo dollar at par by launching the Malaysian dollar on June 12, 1967. In 1985 the bank experienced some major losses and to make up these losses BNM introduced a strategy referred as "honest-to-god" trading. The bank Negara became a major player in the forex in late 1980s under the expert leadership of its governor, Jaffar Hussein. The bank suffered huge losses in early 1990s and became technically insolvent and the Malaysian finance ministry bailed it out in 1994. The central bank gave up fixed exchange rate authority in favor of managed floating exchange rate system in July 2005 an hour after china floated its currency. The bank is now an active member of the ‘Alliance for Financial Inclusion. To know more about the bank’s current annual report you can go through its website where you can also avail several banking laws, policy and guidelines.

Bank Negara Malaysia Career

If you want to work with one of the best teams in the banking industry them you must apply for the jobs offered by the bank. The main focus of the bank is to provide high standards of integrity, prudence, professionalism, innovation and teamwork employees by encouraging the use of latest technologies. Passionate and team spirited candidates are always preferred by the central bank of malaysia. The bank offers good salary packages, rewards and bonuses to its workers in addition to complete job security and satisfaction. The bank also provides academic scholarship facility to talented students of the country as part of its corporate social response (CSR) activity and the aspirants can visit the bank at the address mentioned on its website to apply for the same.

Bank Negara Malaysia Head Office:
Jalan Dato' Onn
P.O. Box 10922
50929 Kuala Lumpur
Telephone: 603-2698-8044
Fax Number: 603-2691-2990
Customer Service: 1-300-88-5465
SMS: 15888 BNM TANYA (your enquiry/complaint)


Bank Negara Malaysia