AMMB Holdings, which is 24% owned by Australian bank ANZ, has reportedly agreed to pay MYR 53.7m ($12.69m) over two of its subsidiary's non-compliance with certain regulations; the units involved were AmBank and AmBank Islamic. Upon the announcement, AmBank Group said it took its compliance responsibility seriously and had agreed with Bank Negara’s four years programme of work towards achieving market best practises, which will see it invest MYR 25m ($5.92m) in systems, infrastructure, and training annually for four-year.
AMMB Holdings, which is 24% owned by Australian bank ANZ, has reportedly agreed to pay MYR 53.7m ($12.69m) over two of its subsidiary's non-compliance with certain regulations; the units involved were AmBank and AmBank Islamic. Upon the announcement, AmBank Group said it took its compliance responsibility seriously and had agreed with Bank Negara’s four-year programme of work towards achieving market best practises, which will see it invest MYR 25m ($5.92m) in systems, infrastructure, and training annually for four years.