Bank Negara Malaysia (BNM) has revised its policy document on Product Transparency and Disclosure, setting new standards for how financial service providers (FSPs) must present product information to you. The changes were outlined at a BNM media workshop on 21 May 2026.

The revised policy covers the entire product life cycle and applies to both traditional and digital channels.

Product Disclosure Sheets Must Now Fit Two Pages

The Product Disclosure Sheet (PDS), which summarises key features, fees, risks, and terms before you sign up for a financial product, is getting a significant update.

All PDS documents must now fit within two A4 pages, use a readable font size, and be written in plain, active language. FSPs are also required to follow a standardised template, so you can compare the same type of product across different providers in a consistent format.

For more complex products, FSPs are expected to take additional steps to ensure you’ve understood the key terms before entering into a contract, including follow-up calls after a sale in some cases.

New Requirements for Digital Channels and Marketing Data

BNM has also introduced digital disclosure requirements, which mean FSPs must ensure product information on apps and websites is properly formatted for the device you’re using, that support is available when you need it through a hotline, live chat, or similar, and that key information is clearly visible. These requirements extend to non-direct platforms where financial products are sold, including e-commerce marketplaces.

Regarding marketing, FSPs are now required to obtain your prior written consent before sharing your information with group entities or third parties for marketing purposes. That consent must be specific, voluntary, explicit, and revocable.

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Christina Chandra

Christina writes about personal finance with an eye for making the complicated feel straightforward. She is drawn to the everyday money decisions people face and genuinely enjoys finding the clearest way to explain them. Between articles, she is probably napping, on a hiking trail, or terrorising her sister’s cats.

About THE AUTHOR

Christina Chandra

Christina Chandra

Christina writes about personal finance with an eye for making the complicated feel straightforward. She is drawn to the everyday money decisions people face and genuinely enjoys finding the clearest way to explain them. Between articles, she is probably napping, on a hiking trail, or terrorising her sister's cats.

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