Bank Negara to engage with banks regarding recovery plan submissions

KUALA LUMPUR: The police have arrested the co-founder of a local airline, who has a 'Datuk' title, along with his wife and son.

KUALA LUMPUR: Bank Negara Malaysia will engage with banks in the coming months regarding the first batch of submissions of their recovery plans, deputy governor Datuk Jessica Chew Cheng Lian said.

"This, in turn, aims to reduce the likelihood of a financial institution having to enter into resolution,” she said in her opening address at the National Resolution Symposium 2023 here today "A well-executed recovery plan should significantly decrease the chances of a financial institution needing resolution,” she said.

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