“A developed nation upholds its language” – BNM Governor Reminds Financial Institutions to Prioritise Bahasa Melayu

Governor of Bank Negara Malaysia (BNM), Dato’ Sri Abdul Rasheed Ghaffour, recently pledged the Central Bank’s continuous commitment to upholding Bahasa Melayu, especially in ensuring that Malaysians receive the best and most inclusive financial services without language barriers.

Furthermore, he reiterated that BNM requires financial institutions in the country to prioritise the national language when disclosing product information to financial consumers and to use easily understandable language.

Dato’ sri abdul rasheed ghaffour

Financial institutions in Malaysia should prioritise Bahasa Melayu

Speaking at the final round of the BNM Governor’s Cup Public Speaking Competition (PPG) 2025 in Kuala Lumpur on Wednesday (26 November), Abdul Rasheed added that as a regulator, the Central Bank has emphasised the importance of Bahasa Melayu in financial services through the Product Transparency and Disclosure Guidelines.

An excerpt of the guidelines

The guidelines aim to help Malaysians assess product suitability and make sound financial choices, as well as provide every Malaysian with the opportunity to interact with financial institutions more closely and effectively.

Besides that, the BNM Governor revealed that the Central Bank has worked closely with Dewan Bahasa dan Pustaka (DBP) and other strategic partners to implement various initiatives to uphold Bahasa Melayu.

These initiatives include the Sistem Penarafan Bintang or Star Rating System programme, launched in 2016, which conducts language audits on financial institutions and the BNM Governor’s Cup PPG.

A developed nation holds fast to its language and culture

The BNM Governor also stressed that a nation’s excellence does not rely solely on economic factors, as a developed nation can be defined as one that holds fast to its identity, namely its language and culture, without being eroded by modernisation.

“A developed nation defines progress and success in its own way and according to its own customs. I want to emphasise the importance of holding fast to our national language, Bahasa Melayu, which faithfully serves as the vehicle for the thought, culture, and heritage of our nation.”

So, what do you think of Abdul Rasheed’s statement? Share your thoughts with us in the comments.

Also read: DBP: Govt Agencies That Use ‘Rojak’ or Foreign Language are Akin to Degrading Bahasa Melayu’s Dignity