{"id":5019,"date":"2016-06-10T07:54:12","date_gmt":"2016-06-10T07:54:12","guid":{"rendered":"http:\/\/progresomicrofinanzas.org\/en\/?p=5019"},"modified":"2017-11-20T15:38:53","modified_gmt":"2017-11-20T15:38:53","slug":"updated-standards-for-financial-institutions","status":"publish","type":"post","link":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/","title":{"rendered":"Updated standards for financial institutions"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-right\"><a href=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/wp-json\/wp\/v2\/posts\/5019?print=pdf\" class=\"pdfprnt-button pdfprnt-button-pdf\" target=\"_blank\"><img decoding=\"async\" src=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/wp-content\/plugins\/pdf-print\/images\/pdf.png\" alt=\"image_pdf\" title=\"View PDF\" \/><\/a><a href=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/wp-json\/wp\/v2\/posts\/5019?print=print\" class=\"pdfprnt-button pdfprnt-button-print\" target=\"_blank\"><img decoding=\"async\" src=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/wp-content\/plugins\/pdf-print\/images\/print.png\" alt=\"image_print\" title=\"Print Content\" \/><\/a><\/div><p><span style=\"font-weight: 400;\">In March, the Malaysian Central Bank (<\/span><a href=\"http:\/\/www.bnm.gov.my\/\"><span style=\"font-weight: 400;\">Bank Negara Malaysia<\/span><\/a><span style=\"font-weight: 400;\">) published two papers for public consultation: one on corporate governance and the other on shareholder suitability. Both are applicable to licensed financial institutions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The <\/span><i><span style=\"font-weight: 400;\">Consultation Paper on Corporate Governance<\/span><\/i><span style=\"font-weight: 400;\"> is intended to help institutions adopt sound corporate governance practices in line with long-term value creation and a corporate culture based on ethical, prudent and professional behaviour at all levels of the organisation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Thus, institutions must adopt the minimum standards presented in the paper and operate effectively, in accordance with their size, the nature of their business, the complexity of their activities, their structure and their systemic importance.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The paper includes the following blocks, analysed here in schematic form:<\/span><\/p>\n<p><b><b>1. Board of Directors<\/b><\/b><\/p>\n<p><em>Responsibilities<\/em><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The board must have a charter regulating its roles, responsibilities and business requiring its approval.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">It will be responsible for promoting the institution\u2019s sustainable growth, taking into account the short and the long-term outlook in its decision-making.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">In general, its duties will be: to approve the risk-appetite framework and strategy plan; supervise the appointment, performance, remuneration and succession planning of the institution\u2019s CEO; supervise the activity of the institution and the different control mechanisms; promote a robust corporate governance culture, and ethical, prudent professional behaviour; supervise and approve financial plans; promote suitable communications between the institution and the regulator regarding matters that could affect the institution\u2019s reputation.<\/span><\/li>\n<\/ul>\n<p><em>Meetings<\/em><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The chairman of the board will be responsible for its correct performance.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Board members must devote sufficient time to the fulfillment of their duties and attend at least 75% of the board meetings.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The minimum quorum for meetings is half the board members.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Meetings must be minuted, clearly reflecting the resolutions adopted and policies approved, as well as any dissenting voice.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Board members may receive input from external advisors on specific matters.<\/span><\/li>\n<\/ul>\n<p><em>Appointment and severance of directors<\/em><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The institution must establish a procedure for the appointment, re-election and severance of directors.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Incompatibilities. Directors may not:<\/span>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Be actively involved in politics;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Have commitments that could hinder them from carrying out their duties in an effective manner;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Be or have been members of the external financial audit firm appointed to audit the institution\u2019s financial statements until at least two years after: (i) having left the firm, or (ii) the firm having provided such audit services.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The board must establish and regularly review the succession plans for directors, to promote the renewal of this governance body and cover vacancies.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The institution must request authorisation from the Malaysian Central Bank for the appointment of its directors. It must also request its approval to appoint, re-elect or dismiss independent directors.<\/span><\/li>\n<\/ul>\n<p><em>Composition<\/em><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The board will be of sufficient size to promote the active participation of its members. It must specify the criteria and skills necessary to be a director and review these regularly.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The chairman of the board may not be executive or have held the position of CEO in the institution during the preceding 5 years.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The board must comprise of one executive director, at most, and a majority of independent directors. \u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Except under exceptional circumstances, the maximum term of office for independent directors will be nine years.<\/span><\/li>\n<\/ul>\n<p><em>Support committees<\/em><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The board must constitute the following support committees: appointments, remuneration; risks; audit.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The appointments and the remuneration committees may be constituted jointly.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Each committee must comprise a minimum of 3 directors, with a majority of independent directors. Its chair must be an independent director.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">With the exception of the appointments committee, support committees may not have any executive members.<\/span><\/li>\n<\/ul>\n<p><em>Assessment and training<\/em><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The activity of the board and its committees, and of their individual members, must \u00a0be assessed every year.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The board must dedicate the resources required for the directors to receive periodic training sessions.<\/span><\/li>\n<\/ul>\n<p><em>Conflicts of interest<\/em><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The board must establish a written policy to manage potential conflicts of interest with respect to directors. This must include: circumstances that could generate a conflict of interest; procedures to report on these; persons or bodies responsible for managing them; and the consequences of any breach of this policy.<\/span><\/li>\n<\/ul>\n<p><b><b>2. Senior management<\/b><\/b><\/p>\n<p><em>Appointment and incompatibilities<\/em><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The appointment of the CEO will require approval from the Central Bank of Malaysia.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The CEO may not be a member of the senior management or any significant shareholder in the institution.<\/span><\/li>\n<\/ul>\n<p><em>Succession plan<\/em><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The institution will formulate a clear, transparent succession plan for all members of the senior management, and should review it every year.<\/span><\/li>\n<\/ul>\n<p><em>Annual assessment<\/em><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The performance of each member of the senior management will be assessed every year.<\/span><\/li>\n<\/ul>\n<p><b><b>3. Transparency<\/b><\/b><\/p>\n<p><em>Information on corporate governance<\/em><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The institution must report on its corporate governance practices and procedures, as described in Appendix 4.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The information will be published in a simple, clear and disciplined manner:<\/span>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">It will be given to the directors before the General Meeting is held;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">It will be published on the Institution\u2019s website;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Listed companies will publish it in their mandatory annual reports.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The paper contains a chapter on institutions\u2019 responsibility to provide effective supervision of their subsidiaries.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition, there will be a transition period for institutions to implement the standards contained in the paper, most specifically with respect to the number and classification of the directors on their boards.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Finally, it incorporates the following appendices:<\/span><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Appendix 1: Responsibilities of the board support committees<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Appendix 2: List of guidelines and circulars replaced by the paper<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Appendix 3: Procedure for appointment of directors and senior managers<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Appendix 4: Publication of information on corporate governance<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Meanwhile, the <\/span><i><span style=\"font-weight: 400;\">Consultation Paper on Shareholders Suitability,<\/span><\/i><span style=\"font-weight: 400;\"> which substitutes an earlier version published in October 2014 is also applicable to licenced financial institutions. It establishes requirements with which shareholders of these institutions must comply:<\/span><\/p>\n<ol>\n<li><b>Maintain honesty, integrity and reputation.<\/b><span style=\"font-weight: 400;\"> Shareholders may not act in any manner that prejudices or could prejudice their repute or that of the institution.<\/span><\/li>\n<li><b>Exercise of influence.<\/b>\n<ul>\n<li><span style=\"font-weight: 400;\">Shareholders must act in line with standards of good governance in exercising their rights.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Significant shareholders in the institution may not exercise their position of influence in such a manner that it could prejudice the institution\u2019s security and solvency.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>Financial security. <\/b><span style=\"font-weight: 400;\">Shareholders must have adequate control of their financial risks and maintain a sound financial position, such that this can serve as an additional source of funding in the event of the institution requiring further capital.<\/span><\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In March, the Malaysian Central Bank (Bank Negara Malaysia) published two papers for public consultation: one on corporate governance and the other on shareholder suitability. Both are applicable to licensed financial institutions. The Consultation Paper on Corporate Governance is intended to help institutions adopt sound corporate governance practices in line with long-term value creation and [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":4926,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"tags":[424,417,1177,1183,414,1148,1182,1179,421,1185,1181,1180,1175,447,890,1184,1178,423,867,422,411],"class_list":["post-5019","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-assessment","tag-board-of-directors","tag-central-bank","tag-corporate-culture","tag-corporate-governance","tag-ethics","tag-financial-security","tag-honesty","tag-independence","tag-induction","tag-influence","tag-integrity","tag-long-term","tag-malaysia","tag-reputation","tag-responsibility","tag-shareholder","tag-succession","tag-suitability","tag-training","tag-transparency","numero-7-en","seccion-published-and-draft-legislation-corporate-governance","pais-malaysia"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Updated standards for financial institutions<\/title>\n<meta name=\"description\" content=\"The Malaysian Central Bank publishes public consultation papers on corporate governance and shareholder suitability in financial institutions\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Updated standards for financial institutions\" \/>\n<meta property=\"og:description\" content=\"The Malaysian Central Bank publishes public consultation papers on corporate governance and shareholder suitability in financial institutions\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/\" \/>\n<meta property=\"og:site_name\" content=\"Progreso\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/fundacionmicrofinanzasbbva\" \/>\n<meta property=\"article:published_time\" content=\"2016-06-10T07:54:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-11-20T15:38:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/progresomicrofinanzas.org\/revistaprogreso\/wp-content\/uploads\/2016\/06\/malasia.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"925\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"karessa Ramos\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@FMBBVA\" \/>\n<meta name=\"twitter:site\" content=\"@FMBBVA\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"karessa Ramos\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/\"},\"author\":{\"name\":\"karessa Ramos\",\"@id\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/#\/schema\/person\/4a3fe64f7988998aa5e22913c8147baf\"},\"headline\":\"Updated standards for financial institutions\",\"datePublished\":\"2016-06-10T07:54:12+00:00\",\"dateModified\":\"2017-11-20T15:38:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/\"},\"wordCount\":1043,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/wp-content\/uploads\/2016\/06\/malasia.jpg\",\"keywords\":[\"assessment\",\"board of directors\",\"central bank\",\"corporate culture\",\"corporate governance\",\"ethics\",\"financial security\",\"honesty\",\"independence\",\"induction\",\"influence\",\"integrity\",\"long term\",\"Malaysia\",\"reputation\",\"responsibility\",\"shareholder\",\"succession\",\"suitability\",\"training\",\"transparency\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/\",\"url\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/\",\"name\":\"Updated standards for financial institutions\",\"isPartOf\":{\"@id\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/wp-content\/uploads\/2016\/06\/malasia.jpg\",\"datePublished\":\"2016-06-10T07:54:12+00:00\",\"dateModified\":\"2017-11-20T15:38:53+00:00\",\"description\":\"The Malaysian Central Bank publishes public consultation papers on corporate governance and shareholder suitability in financial institutions\",\"breadcrumb\":{\"@id\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/#primaryimage\",\"url\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/wp-content\/uploads\/2016\/06\/malasia.jpg\",\"contentUrl\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/wp-content\/uploads\/2016\/06\/malasia.jpg\",\"width\":925,\"height\":800},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Portada\",\"item\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Updated standards for financial institutions\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/#website\",\"url\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/\",\"name\":\"Revista Progreso\",\"description\":\"Legal news update\",\"publisher\":{\"@id\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/#organization\"},\"alternateName\":\"Revista Progreso\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/#organization\",\"name\":\"Revista Progreso\",\"alternateName\":\"Revista Progreso\",\"url\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/wp-content\/uploads\/2023\/09\/Logo-FMBBVA-AZUL.png\",\"contentUrl\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/wp-content\/uploads\/2023\/09\/Logo-FMBBVA-AZUL.png\",\"width\":6173,\"height\":1001,\"caption\":\"Revista Progreso\"},\"image\":{\"@id\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/fundacionmicrofinanzasbbva\",\"https:\/\/x.com\/FMBBVA\",\"https:\/\/www.linkedin.com\/company\/fundacin-microfinanzas-bbva\/\",\"https:\/\/www.instagram.com\/somosfmbbva\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/#\/schema\/person\/4a3fe64f7988998aa5e22913c8147baf\",\"name\":\"karessa Ramos\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/a2388109b4325a6fb9c892c3212e430cdc0835c8fc1c1a41f4cc2a3b175b81c5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/a2388109b4325a6fb9c892c3212e430cdc0835c8fc1c1a41f4cc2a3b175b81c5?s=96&d=mm&r=g\",\"caption\":\"karessa Ramos\"},\"url\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/author\/karessa\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Updated standards for financial institutions","description":"The Malaysian Central Bank publishes public consultation papers on corporate governance and shareholder suitability in financial institutions","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/","og_locale":"en_US","og_type":"article","og_title":"Updated standards for financial institutions","og_description":"The Malaysian Central Bank publishes public consultation papers on corporate governance and shareholder suitability in financial institutions","og_url":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/","og_site_name":"Progreso","article_publisher":"https:\/\/www.facebook.com\/fundacionmicrofinanzasbbva","article_published_time":"2016-06-10T07:54:12+00:00","article_modified_time":"2017-11-20T15:38:53+00:00","og_image":[{"width":925,"height":800,"url":"https:\/\/progresomicrofinanzas.org\/revistaprogreso\/wp-content\/uploads\/2016\/06\/malasia.jpg","type":"image\/jpeg"}],"author":"karessa Ramos","twitter_card":"summary_large_image","twitter_creator":"@FMBBVA","twitter_site":"@FMBBVA","twitter_misc":{"Written by":"karessa Ramos","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/#article","isPartOf":{"@id":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/"},"author":{"name":"karessa Ramos","@id":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/#\/schema\/person\/4a3fe64f7988998aa5e22913c8147baf"},"headline":"Updated standards for financial institutions","datePublished":"2016-06-10T07:54:12+00:00","dateModified":"2017-11-20T15:38:53+00:00","mainEntityOfPage":{"@id":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/"},"wordCount":1043,"commentCount":0,"publisher":{"@id":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/#organization"},"image":{"@id":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/#primaryimage"},"thumbnailUrl":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/wp-content\/uploads\/2016\/06\/malasia.jpg","keywords":["assessment","board of directors","central bank","corporate culture","corporate governance","ethics","financial security","honesty","independence","induction","influence","integrity","long term","Malaysia","reputation","responsibility","shareholder","succession","suitability","training","transparency"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/","url":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/","name":"Updated standards for financial institutions","isPartOf":{"@id":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/#primaryimage"},"image":{"@id":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/#primaryimage"},"thumbnailUrl":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/wp-content\/uploads\/2016\/06\/malasia.jpg","datePublished":"2016-06-10T07:54:12+00:00","dateModified":"2017-11-20T15:38:53+00:00","description":"The Malaysian Central Bank publishes public consultation papers on corporate governance and shareholder suitability in financial institutions","breadcrumb":{"@id":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/#primaryimage","url":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/wp-content\/uploads\/2016\/06\/malasia.jpg","contentUrl":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/wp-content\/uploads\/2016\/06\/malasia.jpg","width":925,"height":800},{"@type":"BreadcrumbList","@id":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-standards-for-financial-institutions\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Portada","item":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/"},{"@type":"ListItem","position":2,"name":"Updated standards for financial institutions"}]},{"@type":"WebSite","@id":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/#website","url":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/","name":"Revista Progreso","description":"Legal news update","publisher":{"@id":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/#organization"},"alternateName":"Revista Progreso","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/#organization","name":"Revista Progreso","alternateName":"Revista Progreso","url":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/#\/schema\/logo\/image\/","url":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/wp-content\/uploads\/2023\/09\/Logo-FMBBVA-AZUL.png","contentUrl":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/wp-content\/uploads\/2023\/09\/Logo-FMBBVA-AZUL.png","width":6173,"height":1001,"caption":"Revista Progreso"},"image":{"@id":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/fundacionmicrofinanzasbbva","https:\/\/x.com\/FMBBVA","https:\/\/www.linkedin.com\/company\/fundacin-microfinanzas-bbva\/","https:\/\/www.instagram.com\/somosfmbbva\/"]},{"@type":"Person","@id":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/#\/schema\/person\/4a3fe64f7988998aa5e22913c8147baf","name":"karessa Ramos","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a2388109b4325a6fb9c892c3212e430cdc0835c8fc1c1a41f4cc2a3b175b81c5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a2388109b4325a6fb9c892c3212e430cdc0835c8fc1c1a41f4cc2a3b175b81c5?s=96&d=mm&r=g","caption":"karessa Ramos"},"url":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/author\/karessa\/"}]}},"_links":{"self":[{"href":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/wp-json\/wp\/v2\/posts\/5019","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/wp-json\/wp\/v2\/comments?post=5019"}],"version-history":[{"count":0,"href":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/wp-json\/wp\/v2\/posts\/5019\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/wp-json\/wp\/v2\/media\/4926"}],"wp:attachment":[{"href":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/wp-json\/wp\/v2\/media?parent=5019"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/wp-json\/wp\/v2\/tags?post=5019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}