Bank Negara Malaysia issues Policy Document on Registration Procedures and Requirements on Professionalism of Adjusters
22 October 2025
On 29 August 2025, Bank Negara Malaysia (“BNM”) issued the Policy Document on Registration Procedures and Requirements on Professionalism of Adjusters (“Policy Document”), which took effect immediately superseding its previous iteration issued on 1 June 2023.
The Policy Document aims to enhance the professionalism of registered adjusters in managing their business and dealing with customers. It is applicable to registered adjusters, shareholders of registered adjusters, and persons intending to carry on adjusting business.
The Policy Document sets out the following:
- Registration requirements for a person intending to carry on adjusting business; and
- Requirements with which a registered adjuster must always comply, including those relating to fees payable, fit and proper criteria, effective governance and oversight, and business conduct.