SC, Bank Negara Malaysia and Bursa Malaysia introduce e-share Payment
17 September 2010   |   Kuala Lumpur
The Securities Commission Malaysia (SC), Bank Negara Malaysia and Bursa Malaysia today introduced the Electronic Share Payment facility for share transactions in a further move to promote the use of e-payments in the stock market.

Together with the e-Dividend initiative launched in April this year, the e-Share payment initiative marks another effort towards enhancing efficiency in the payment and settlement systems within the capital market. The two initiatives were announced in the 2010 Budget.

With e-Share payment, share sales proceeds can now be paid by the stockbroker directly into the investors’ bank accounts. Investors enjoy faster access to funds as the monies are made available in their bank account on the same day.

For share purchases, investors can initiate payments to their stockbrokers via electronic channels or they may choose to save time and enjoy the convenience of auto-debit by authorising their banker to debit their designated bank account directly.

The e-Share payment facility does away with the need to deposit and collect cheques, and eliminates issues of misplaced, lost or expired cheques. Investors can subscribe to the e-Share payment facility with their respective brokers. The service is provided by all the stockbrokers at no charge.

The e-Share payment initiative is jointly undertaken by the SC, Bank Negara Malaysia, Bursa Malaysia, the Association of Stockbroking Companies Malaysia, the Asssociation of Banks Malaysia and Malaysian Electronic Payment System. 

Further information on e-Share payment is available here.

SECURITIES COMMISSION MALAYSIA


SC AFFILIATES
RELATED SITES
about the SC
The Securities Commission Malaysia (SC) was established on 1 March 1993 under the Securities Commission Act 1993 (SCA). We are a self-funded statutory body entrusted with the responsibility to regulate and develop the Malaysian capital market.

General Line: +603-6204 8000
General Email: [email protected]
© Copyright Securities Commission Malaysia.  Contact Us   |    Disclaimer   |   The site is best viewed using Microsoft Edge and Google Chrome with minimum resolution of 1280x1024
Ooops!
Generic Popup