INTEGRITY: It is crucial for investor confidence, says Bursa CEO
KUALA LUMPUR: MALAYSIA must go all out to safeguard bank-client confidentiality as it is the very essence of the country's financial integrity.
The country, in fact, risks losing investors' confidence if its banking laws are not upheld.
Bursa Malaysia chief executive officer Datuk Tajuddin Atan said without financial integrity, Malaysia's capital market would not be where it was today.
He said Malaysia had earned a lot of respect locally and internationally for its Islamic and conventional financial systems, and for its ability to safeguard every concern, especially clients' personal information, which could not be revealed freely.
"The information can only be revealed through proper channels such as by obtaining a court order, to the police or the Malaysian Anti-Corruption Commission.
"No clerk can go into my account and reveal its content to a third party. He has no authority to do so," he told the New Straits Times in a phone interview yesterday.
Tajuddin was commenting on Public Bank Bhd former credit department clerk Johari Mohamad, who had been charged with abetting Parti Keadilan Rakyat strategic director Mohd Rafizi Ramli in disclosing four confidential banking documents in relation to the National Feedlot Corporation (NFCorp) issue.
Both had been charged with breaching the Banking and Financial Institution Act (Bafia) 1989.
Tajuddin said Bafia was all about "amanah" (trust) and to breach it challenged the very fundamentals of the act.
He said a person could be exposed if he were to be involved in illegal activity but it would have to go through the proper procedure, so that the financial sector's integrity would not be compromised.
Meanwhile, former EON Bank chairman Datuk Gooi Hoe Soon said he was concerned about investor confidence in Malaysia should such a banking law be breached.
He said the banker-client confidentiality had to be protected at all costs.
2013 Bar Council subscription Click the link above to download Circular 090/2013 pertaining to the 2013 Bar Council subscription, including the payment guide and a set of Frequently-Asked-Questions.
2013 Hotel Corporate Rates Attending seminars? Going for a holiday? Click on the link above to check out the list of hotel corporate rates for Members of the Bar, which is updated regularly.
Starting a new Practice If you are thinking of setting up your own law practice, click on the link above to view Bar Council's information and checklists to help you prepare for your new endeavour.
Risk Management for Staff Workshop, Kuala Lumpur (20 June 2013) Organised by the Bar Council Professional Indemnity Insurance Committee, this workshop will be held at 9:00 am to 5:30 pm, at Raja Aziz Addruse Auditorium, Bar Council, on 20 June 2013 (Thursday). The workshop carries seven CPD points. Click on the link above for more details.
Kuala Lumpur Bar Seminar on Judicial Review 101 (20 June 2013) Organised by the Kuala Lumpur Bar Professional Development Committee, this session by Shanmuga Kanesalingam will be held at 3:00 pm, at Kuala Lumpur Bar Auditorium, 10th Floor, Wisma Kraftangan, on 20 June 2013 (Thursday). The seminar carries two CPD points. Click on the link above for more details.
Kuala Lumpur Bar Strategic Litigation Camp (21 to 23 June 2013) Organised by the Kuala Lumpur Bar Young Lawyers Committee and the Malaysian Centre for Constitutionalism and Human Rights, this event will be held at the Firefly Park Resort, Kuala Selangor, from 21 to 23 June 2013 (Friday to Sunday). Click on the link above for more details.
Kuala Lumpur Bar Luncheon: Feast with the Giants of the Bar (22 June 2013) Organised by the Kuala Lumpur Bar Pupils Welfare Committee and Young Lawyers Committee, this event will be held at 12:00 noon, at The Smokehouse Restaurant, Jalan Telawi 3, Bangsar, on 22 June 2013 (Saturday). Click on the link above for more details.
The Legacy Series | Gopal Sri Ram Lectures (June and July 2013) Organised by the Bar Council Professional Standards and Development Committee, these lectures by Datuk Seri Gopal Sri Ram will be held at 2:00 pm to 4:00 pm, at Raja Aziz Addruse Auditorium, Bar Council, on 24 June 2013 (Monday), and 9, 16 and 23 July 2013 (Tuesdays). The lectures carry two CPD points each. Click on the link above for more details.
Kuala Lumpur Bar Seminar on the Torrens System and Equitable Principles (2 July 2013) Organised by the Kuala Lumpur Bar Professional Development Committee, this session by SY Kok will be held at 3:00 pm, at Kuala Lumpur Bar Auditorium, Wisma Kraftangan, on 2 July 2013 (Tuesday). The seminar carries two CPD points. Click on the link above for more details.
Seminar on Medical Disability and the Assessment of Damages (6 and 7 July 2013) Co-organised by Malaysian Occupational Therapy Association, Malaysian Healthy Ageing Society and Perdana University, in collaboration with Bar Council, this seminar will be held at Berjaya Times Square, Kuala Lumpur, on 6 and 7 July 2013 (Saturday and Sunday). The seminar carries 10 CPD points. Click on the link above for more details.
News 
©The New Straits Times (Used by permission)
Subscribe to this comment's feed
Circular No 138/2013: Request for Feedback on Issues Pertaining to Stamp Duty and Real Property
