Circular No 028/2016 
Dated 3 Feb 2016

To Members of the Malaysian Bar

Reminder | Guidelines for Interbank E-Payment in Respect of Redemption or Disbursement of Financing Facilities

We refer to Circular No 154/2014 dated 17 July 2014, entitled “Guidelines for Interbank E-Payment in Respect of Redemption or Disbursement of Financing Facilities”, in which we highlighted that Bank Negara Malaysia had directed all financial institutions to cease issuing cheques for interbank payments.

In 2014, the Bar Council and The Association of Banks in Malaysia worked together and agreed on a set of guidelines to immediately address the process flow for redemption or disbursement of financing facilities.  The guidelines, which were contained in Circular No 154/2014, took effect on 14 July 2014.

The Association of Banks in Malaysia recently brought to our attention that some Members of the Bar are allegedly not aware of these guidelines.  

Members are requested to take note of the guidelines, a copy of which is attached for your reference.

Should you have any enquiries, please contact Chuah Ying Ying, Executive Officer, by telephone at 03-2050 2106 or by email at yingying@malaysianbar.org.my.

Thank you.

Low Beng Choo 
Chairperson 
Conveyancing Practice Committee