In 2014, Bank Negara Malaysia and the Securities Commission launched the Financial Services Professional Board (FSPB), an industry-led initiative, with the aim of promoting a strong culture of professionalism in the financial services industry (FSI) through the development and advocacy of professional and ethical standards that are applicable across the industry, including banking, capital markets, insurance and Islamic finance.
On 6 January 2016, the FSPB launched the Code of Ethics (CoE) for the FSI, which sets out five (5) core ethical principles: Competency, Integrity, Fairness, Confidentiality and Objectivity, to which organisations and individuals across the FSI should adhere to and on which they can rely on for guidance.
The FSPB’s CoE was developed through a Working Group comprising leaders in the industry as well as subject matter experts and in consultation with industry participants. It complements a formal system of regulation and contributes towards public oversight of the FSI through a publicly available, voluntary, principles-based CoE developed “by the industry, for the industry, in the public interest”.
MIBA and its Members are committed to supporting the Code, not only within the respective institutions but also the financial services sector as a whole.
For more information, please visit the FSPB’s website.