Malaysian government to develop new financial sector business continuity planning guidelines

The Malaysian Finance Ministry is to work with the International Association of Software Architects to develop new guidelines and benchmarks for business continuity planning in the financial services industry.

At a press conference this week Deputy Finance Minister Datuk Kong Cho Ha said that all financial institutions need to put in place a comprehensive system to ensure business continuity “even during events like riots, acts of terrorism, natural disasters and technical glitches”.

Kong said that the financial services industry in Malaysia currently remained insulated from the financial crisis that was taking place outside the region but that this “is an opportune time to review business continuity planning standards."

•Date:9th January 2009• Region: Asia Pacific •Type: Article •Topic: Financial sector
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