The Idiot Banking Guide

Reuters had reported on 30 Oct 2019 that CIMB and RHB had initiated mass closure of Iranian-linked accounts maintained at their banks which had ignited a furore.  In another report by The Star , carrying news from The Straits Times on the same day, had highlighted the same action had also impacted several other nationalities, namely Algerians, Iraqis, Nigerians, Syrians, Ukrainians and Yemenis. While no reasons were given, Reuters had pointed that this action could be linked to a notification from Bank Negara on the statement from Financial Action Task Force (FATF).  July this year, FATF had reminded their members to enhance their due diligence process on Iranians.  Straits Times had reached the same conclusion, except they had included US State Sponsors of Terrorism list .   FATF (some of us call them as Fat F) is the global watchdog on anti-money laundering.  In fact, nearly every iteration of anti-money laundering laws in every country is a derivative from FATF recommendati

Kewujudan komputer riba adalah suatu penambahbaikan kepada produktiviti di pejabat.  Anda boleh membawa komputer anda ke mana sahaja untuk mesyuarat dan tidak perlu risau akan terlepas emel dan perkara lain.  Komputer riba biasanya adalah ringan dan tidak sekekok untuk dibawa seperti PC biasa, dan oleh itu, peranti itu perlu dikunci dengan kabel berkunci.  Dengan kombinasi yang hanya diketahui penggunanya, sepatutnya kunci berkabel ini mencukupi untuk mengelakkan kehilangan aset ini. Tetapi adakah mencukupi dengan sekadar menguncikan peranti itu dengan kunci berkabel?  Itu yang anda fikirkan. Dari masa ke masa, anda perlu membawa komputer riba anda meninggalkan meja kerja.  Anda membuka kunci berkabel tersebut dengan kombinasi anda, dan anda meninggalkan meja anda. Adakah anda terlepas melakukan sesuatu yang penting?  Ya. Anda tidak mematikan kombinasi kepada kunci berkabel komputer riba anda. Tidak apa kalau rakan-rakan sekerja di pejabat semuanya boleh dipercayai.  Tetapi

Bank.  Tempat yang baik bagi orang kaya dan untuk seseorang menjadi kaya.  Itulah apa yang mereka kata.  Jadi apa itu bank dan bagaimana bank beroperasi?  Pada asasnya, terdapat pelbagai jenis bank di Malaysia.  Setiap satu memberi khidmat kepada kelompok berbeza dalam masyarakat kita dan setiap satu memiliki rangka perniagaan dan tumpuan berbeza.  Mari kita lihat bank-bank ini dari segi tadbir urus perundangan bagi bank-bank ini.  Bank Perdagangan  Bank perdagangan adalah bank yang paling biasa dijumpai di Malaysia.  Bank-bank ini memberi khidmat kepada segenap pelanggan, dari pelanggan runcit individu sehinggalah perbadanan korporat antarabangsa.  Rangkaian produk yang ditawarkan bank-bank ini merangkumi produk perbankan deposit asas sehinggalah deposit berstruktur yang kompleks.  Dari segi perkhidmatan, mereka menyediakan perkhidmatan kiriman wang sama ada tempatan mahupun ke negara lain.  Bank perdagangan ditadbir urus selia di bawah Akta Perkhidmatan Kewangan 20

Laptops are a great improvement to business productivity. You get to bring your workstation around for meeting and need not to worry you miss out emails and other matters. Laptops are generally lightweight and not as cumbersome as normal PC, it is very important to secure the devices with laptop locks. But is locking the device with cable lock sufficient? With a combination only known to the user, it should be sufficiently safe to prevent loss of asset.  Or so you think.  From time to time, you will be taking your laptop with you away from your desk. You unlock the cable lock using your own combination, and then you leave your desk with your laptop.  Did you miss doing something important? Yes.  You did not neutralise the combination to your laptop lock.  Fine if people in your office are trustworthy. But as a saying goes, you can only be betrayed by those you trust.  Don't take chance. Neutralise your combination as soon as you unlock your device. Make it a habit. I

Banks.  A place where it is good to be rich and it is good for someone who wants to be rich.  So that's what they tell people.   So what is a bank and how does a bank work?  Can anyone just declare that they want to open a bank? 

Well, technically this is the first post for this blog.  I do have several other blogs which I maintained for non-banking related matters.  But this will be my first attempt to blog about banking.  Before I go any further, a brief background of myself.  I'm a banker with more than 12 years of experience, ranging from internal audit, risk management and compliance, specifically, regulatory compliance and AML compliance.   These 12 years, I had to learn many things by myself with little or few references for me to learn about this field.  I noticed there's a dearth of explanation in laymen's term on many of the things that we apply in our work on daily basis that newbies have trouble to get up to speed at work.   As the industry is heavily regulated with different regulatory stakeholders locally and internationally, many newbies make do with little knowledge they have.  If they're lucky, they get a good supervisor that would guide them on why certain things m