It is a requirement for a Licensee or an approved Money Services Business Agent to be a MAMSB Member
A licensee or an approved money services business agent applying for membership must submit the form as prescribed by the Council and accompanied with the payment of entrance fee and annual subscription fee for eligibility to membership of MAMSB. Details of the documents required are listed below for reference.
MAMSB is an association for licensed corporate entities in the Money Services Business industry. Each corporate entity seeking to apply for membership is required to nominate a ‘Corporate Representative’ to be the authorised Member Representative to MAMSB in accordance with its Articles of Association.
The corporate representatives that will be the Member Representatives is registered by MAMSB based on a Directors’ Resolution from the company certified by the Company Secretary. Only the Chief Executive Officer or Director of the company may be appointed as the Member Representative of the company with MAMSB.
Each Member company must formalize any change of Member Representative via a Directors’ Resolution from the company certified by the Company Secretary and submitted to MAMSB before the change of Member Representative can be effected.
1) Application by licensee to be a member
Documents to be submitted:
- Member applicant to download and Complete Membership Application Form > Membership Application Form Link
- Cheque for entrance fee and annual subscription made payable to: “Persatuan Perniagaan Perkhidmatan Wang Malaysia”
- Board Resolution on appointment of Member representative (Sample Resolution is attached [link to Sample]);
- Form 49: List of Directors (certified copy);
- Form 9: Certificate of Incorporation (certified copy);
- Form 13: Change of Company Name, if applicable (certified copy);
- Copy of MSB licence;
- Copy of IC or passport of Member representative (CEO or Director).
Download Application Form – Membership Application Form
2) Application by approved money services business agent to be an associate
The new process for submission of associate member application is provided below:
- Agent to download and complete the Associate Member Application Form > Associate Member Application Form Link
- Upload the completed Member Application Form using the following link > Associate Member Application Submission Link
- The online form will require the following documents to be uploaded
- The completed and duly signed Associate Membership Application Form
- Copy of company representative MyKad or Passport
- Copy of the certificate of agent appointment by the principal
- Payment receipt for RM350 (RM100 entrance fee, RM100 annual fee & RM150 yearly administrative fee) Please Pay into Maybank Account No. 514066520546 under “Persatuan Perniagaan Perkhidmatan Wang Malaysia”.
- Applications received by 3pm, will be processed on the same day and for those received after 3pm will be processed the next working day.
- A confirmation mail will be sent when we receive the application latest the next working day.
- If any application is incomplete, an email will be sent to the applicant the next working day advising the action required.
- Once approved, an email confirmation will be sent to the applicant along with a copy of Associate Membership Approval Letter, Membership Certificate and Official payment receipt.
- The turnaround time from the Association receiving the completed online application (before 3pm) till email confirmation of approval is sent out to the applicant is expected to take 7 working days. If there are any unavoidable delays, the applicant will be notified.
- The following documents will be couriered to the approved associate member:
- Associate Membership Approval Letter
- Membership Certificate
- One set of Associate membership sticker, standard notice and feedback channel notice
- Official payment receipt