Non Statutory Bodies In Malaysia

The civil service in malaysia is pivotal around article 132 of the constitution of malaysia which stipulates that the public services shall consist of the federal and state general public service the joint public services the education service the judiciary and the legal service and the armed forces.

Non statutory bodies in malaysia. It was set up in 1988 and was given statutory powers in 1992 through the passing of the sebi act 1992. Bnm is a statutory body which started operations on 26 january 1959. Examples of statutory bodies are bank negara malaysia malaysian industrial development authority. Bnm is governed by the central bank of malaysia act 2009.

Examples of non statutory bodies are telekom tm tnb mas khazanah nasional. And a divestment from non. Statutory body assisting companies that intend to invest in the manufacturing and service sectors. Statutory bodies are established with the objective of implementing certain duties and responsibilities in line with government objectives.

They act as public regulatory bodies carrying out regulatory and enforcement functions of the government. Employees provident fund malay. Kwsp is a federal statutory body under the purview of the ministry of finance it manages the compulsory savings plan and retirement planning for private sector workers in malaysia membership of the epf is mandatory for malaysian citizens employed in the private sector and voluntary for. For all intents and purpose statutory bodies and the local authorities are also.

The role of bank negara malaysia is to promote monetary and financial stability. Since these bodies derive their power from statutes or laws made by the parliament they are known as statutory bodies. Malaysia petroleum resources corporation mprc malaysian industry government group for high technology might petroliam nasional berhad petronas islamic dakwah foundation of malaysia yadim islamic economic development foundation of malaysia yapeim waqaf foundation of malaysia ywm. Other basic options models for the reforming and restructuring of felda as statutory body.

Kumpulan wang simpanan pekerja commonly known by the acronym epf malay. For example the securities and exchange board of india sebi is a statutory body. Felda manages 439 725ha of oil palm plantations in malaysia and. 603 6203 7037 email.

Menara matrade jalan sultan haji ahmad shah 50480 kuala lumpur malaysia tel. Central bank of malaysia bnm. Mida is malaysia s principal promotion agency under the ministry of international trade and industry miti to oversee and drive investments into the manufacturing and services sectors in the country.