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Open a Financial Company in Malaysia

Open a Financial Company in Malaysia

If you want to operate in the financial sector of Malaysia, it is good to find out what the conditions for obtaining the required license are. In this case, we refer to the process of applying for a financial license in Malaysia, with the relevant authorities. We invite you to discover in this article information about this type of license, one of the important conditions for opening a financial company in Malaysia. Moreover, our specialists in company formation in Malaysia are at your disposal with specialized advice and support in this endeavor.

Who issues financial licenses in Malaysia?

The Central Bank of Malaysia (CBM) and Securities Commission Malaysia (SC) are the authorities that issue financial licenses in this country. There are also other regulatory bodies and those that issue varied approvals in order to register a financial company in Malaysia.

For whom does the Central Bank of Malaysia issue financial licenses?

The Central Bank of Malaysia issues financial licenses for:

  • banks,
  • insurance companies,
  • payment system providers,
  • brokers,
  • financial advisors.

If you want to set up a company in Malaysia and obtain a license, we advise you to contact our local firm. Our company formation agents in Malaysia can offer you support and guidance in this endeavor, starting with the registration of the desired business structure.

For whom does the Securities Commission Malaysia issue financial licenses?

The Securities Commission in Malaysia is in charge of capital market intermediaries. Thus, the institution issues financial licenses in Malaysia for:

  • investment advisors/companies,
  • financial planners dealing with private retirement schemes, securities, etc.
  • corporate finance advisors.

Opening a financial company in Malaysia inevitably involves obtaining a license in the first place. Among the conditions that must be respected is the implementation of the Anti-Money Laundering Law, and Anti-Terrorism Financing and Proceed of Unlawful Activities policies. We recommend that you talk to us if you want to learn more about setting up a business in Malaysia and operating in the financial sector.

Types of banking institutions in Malaysia  

The banking industry in Malaysia is comprised of several types of banks. Those who are interested in opening a company in Malaysia can choose from the following types of banks

•    commercial banks;
•    Islamic banks;
•    investment banks
•    other types of institutions, providing related services. 

About the financial sector in Malaysia

Here is some information about the financial sector in Malaysia that might help you when starting a business in this field:

  • In 2024, the first digital banks in Malaysia were launched, licensed by the Central Bank of Malaysia.
  • The domestic e-payment sector experienced an important increase, of over 20% in 2024, compared to 2023.
  • Also in 2024, regulatory developments aimed at the fintech sector in Malaysia were implemented, for better transparency and efficiency.
  • More than 280 fintech companies were active in the Malaysian fintech sector in 2024.

In addition to support for getting a financial license in Malaysia, our agents can also help you with other issues. For example, you can opt for our CPA in Malaysia and discover all the accounting services we offer to business owners. Do not hesitate to contact us for more information about company incorporation in Malaysia.