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October 20, 2020

Alibaba Cloud User Guide - Financial Regulations & Guidelines in Malaysia

Malaysia's financial sector is in the midst of rapid transformation, powered by cloud computing technologies. The Bank Negara Malaysia (BNM) issued guidelines on Outsourcing in late 2019 and guidelines on Risk Management in Technology (RMiT) in June 2020. The BNM expects financial institutions to demonstrate the risk management practices and internal controls according to the requirements set in the guidelines. One of the key focuses is to address the exposure risks while using cloud computing technologies.

Alibaba Cloud is committed to facilitating financial institutions to meet the requirements of BNM’s guidelines while partnering with customers to make the transformation journey from on-premise infrastructure to cloud infrastructure as smooth as possible. In this article, Alibaba Cloud clarifies its responsibilities and controls in key areas that financial institutions focus on to help customers to clear the roadblocks on their cloud journey.