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BNM warns money services businesses not to focus too much on price competition

Mimi Sabreena 5:17:00 PM Informasi

KUALA LUMPUR (Nov 30): Bank Negara Malaysia warned money services business (MSB) entities against excessive focus on price competition as such emphasis inherently increases the risk profile of such companies.

Bank Negara Assistant Governor Jessica Chew Cheng Lian said excessive focus on price competition can lead to loss of focus on competitive positioning for the long term, compromise service quality standards, and heighten compliance risks.

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