Membership

1. Our Members

> 1.1 List of Members

List of Principal
Licensees

Type of Business
by Classes

Licensees providing Digital MSB Channels

Licensees providing B2B Remittance Service

List of Approved MSB Agents (Associates)

> 1.2 Members Strength

Total Number of Members

276

Total Number of Associate Members

300

0
Class A

Money Changing & Remittance

0
Class B

Remittance

0
Class C

Money Changing

0
Class C & D

Money Changing & Wholesale Currency

0
Class A & D

Money Changing, Remittance & Wholesale Currency

> 1.3 Customer Touchpoints

MAMSB Members’ Touchpoints By State

Hover to see touchpoints

TOTAL TOUCHPOINTS = 2450

2. Type of Membership

There are two (2) types of membership: Members and Associates

(a) Members

Every licensee under the MSBA is eligible to become a member of MAMSB. Members are further classified into five member classes: Member Class A, Member Class B, Member Class C, Member Class C & D and Member Class A & D, depending on the classes of licenses being issued to them under the MSBA. The purpose of classifying the members is mainly to facilitate the election of Member Class Council Members, respectively drawn from and representing each Member Classes in Malaysia. It also enables the Council to call for specific Member Class meeting to deliberate issues peculiar to that particular Member Class more efficiently and effective.

(b) Associates

Every approved money services business agent under the MSBA is eligible to become an associate of MAMSB. Associate are entitled to attend any general meeting of MAMSB, just like any members. The associates, however, do not have any voting right. Nevertheless, they will be able to enjoy such benefits as shall be determined by the Council from time to time.

It is a requirement for a Licensee or an approved Money Services Business Agent to be a MAMSB Member. Please refer to the link below;

> 2.1 Fees Payable

There are two types of fees payable by a member or an associate: Entrance Fee and Annual Subscription Fee.

Entrance Fee

(a) For Members

The applicable one-off entrance fee for a member is based on the minimum capital funds approved by Bank Negara Malaysia for the member’s license, as follows:

  • Small (minimum capital of RM300,000.00) : RM1,000.00
  • Medium (minimum capital of RM500,000.00) : RM2,000.00
  • Big (minimum capital of more than RM500,000.00) : RM5,000.00
(b) For Associates

The entrance fee for an associate is RM350.00

Entrance fees are inclusive of 1 set of Full Stickers consists of membership sticker (round sticker), standard notice and feedback channel notice.

Only entitled for maximum of 3 FOC membership stickers (round sticker) will be given if you have more than 3 outlets (including HQ). Additional membership stickers are chargeable at RM50 per piece.

The fees shall not be prorated and are not refundable.

Annual Subscription

(a) For Members

Annual subscription fee for members is RM500.00 and is payable on an annual basis within the first three (3) month of the year.

(b) For Associates

Annual subscription fee for associates is RM250.00 and is also payable on an annual basis within the first three (3) month of the year.

3. Application

It is a requirement for a Licensee or an approved Money Services Business Agent to be a MAMSB Member 

MAMSB is an association for licensed corporate entities in the Money Services Business industry in Malaysia.  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 take place.

> 3.1 New Application

  • Application by licensee to be a member
  • Application by approved money services business agent to be an associate

Documents to be submitted:

  1. Completed Membership Application Form > Download Form Here> Membership Application Form Link
  2. Cheque/Payment Receipt for entrance fee made payable to: “Persatuan Perniagaan Perkhidmatan Wang Malaysia”
  3. Board Resolution on appointment of Member representative (Resolution template as attached): Download Form Here.
  4. Form 49: List of Directors (certified copy);
  5. Form 9: Certificate of Incorporation (certified copy);
  6. Form 13: Change of Company Name, if applicable (certified copy);
  7. Copy of MSB licence;
  8. Copy of IC or passport of Member representative (CEO or Director).

A licensee or an approved money services business agent applying for membership must submit the completed Membership Application Form as prescribed by the Council and other required documents to MAMSB Membership department via email at bhavani@mamsb.org.my (Ms Bhavani Rajisperan, Membership Division).

Applications will be processed and send to MAMSB Membership Committee for approval process.

An email confirmation will be sent to the approved applicant along with a copy of Membership Approval Letter and scan copy of Membership Certificate.

The following documents will be couriered to the approved applicant’s correspondence address:

  1. Membership Approval Letter
  2. Membership Certificate
  3. One set of membership sticker, standard notice and feedback channel notice

Documents to be submitted:

  1. Completed Membership Application Form > Download Form Here.
  2. Cheque/Payment Receipt for entrance fee made payable to: “Persatuan Perniagaan Perkhidmatan Wang Malaysia”
  3. Copy of company representative MyKad or Passport
  4. Copy of the certificate of agent appointment by the principal

A licensee or an approved money services business agent applying for membership must submit the completed Membership Application Form as prescribed by the Council and other required documents to MAMSB Membership department via email at bhavani@mamsb.org.my (Ms Bhavani Rajisperan, Membership Division).

Applications will be processed and send to MAMSB Membership Committee for approval process.

An email confirmation will be sent to the approved applicant along with a copy of Membership Approval Letter and scan copy of Membership Certificate.

The following documents will be couriered to the approved applicant’s correspondence address:

  1. Membership Approval Letter
  2. Membership Certificate
  3. One set of membership sticker, standard notice and feedback channel notice

> 3.2 Annual Subscription

(1) Annual Subscription for Member and Associate

All renewals to be made via the member portal using the username login given by Ms Bhavani, Membership Department via email. Please follow the below step by step to login.

  1. Username: Type in the registered email address advise by Ms Bhavani
  2. Click ‘forget password’ and you will get new reset password notification via the email.
  3. Login to the portal using the new password which you received.
  4. Please change to a new password.
  5. Proceed to update all required company information and required supporting documents for the membership (this is just for 1 time update).
  6. Kindly ensure all tabs are filled up and click ‘NEXT’ after fill each tab to save the date.
  7. All mandatory columns must be filled up before proceeding to payment section.

Important Notes:

  • Please also take note that any changes to the company details, emails, member representatives, HOC and etc, all to be done via the member portal by yourself. You will be solely responsible for all information updated in the member portal.
  • All informations entered in the member portal must be accurate and updated on regular basis.
  • Renewal payments strictly to be made via the portal using SenangPay. Upload a copy of the SenangPay transaction receipt in the portal for record once the payment is made.

(1) Sticker Information for yearly renewal

Complimentary Membership Sticker (Round Sticker) entitlement for renewal:

  • 1x Membership Sticker for HQ
  • 2x Membership Stickers for other two (2) branches (if any)

Additional membership sticker for next branch is required to be purchased separately for RM50 per piece for per outlet. You may request this via the portal under additional stickers section before making the payment during the renewal.

Should you require standard notice and feedback channel notice stickers, it’s chargeable at RM10 per piece each. You may request this via the portal under additional stickers section before making the payment during the renewal.

Member Portal

Kindly be informed that 2022 renewal is now open. We happy to announce you that we have revived our member portal and it’s now live.

The username to login the portal is the company email address registered in MAMSB record. Please follow the below step by step for first time login.

  1. Username: Type in the email address
  2. Click ‘forget password’ and you will get new reset password notification via the email.
  3. Login to the portal using the new password which you received.
  4. Please change to a new password
  5. Proceed to update all required company information for the membership
Important Notes:
  • Please also take note that any changes to the company details, emails, member representatives, HOC and etc, all to be done via the member portal by yourself. You will be solely responsible for all information updated in the member portal.
  • All informations entered in the member portal must be accurate and updated on regular basis.
  • Kindly take note that the login details must be strictly confidential and MAMSB won’t be responsible if you share the password with anyone else.
  • Renewal payments are to be made via the portal using SenangPay.
Details of renewal as below:
Renewal fee
  • Member – RM500
  • Associate Member – RM250
 Membership Sticker (Round Sticker) entitlement for renewal:
  • 1x Membership Sticker for HQ
  • 2x Membership Stickers for other two (2) branches (if any)

Additional membership sticker for next branch is required to be purchased separately for RM50 per piece for per outlet.

Should you require standard notice and feedback channel notice stickers, it’s chargeable at RM10 per piece each. You may request this via the portal under additional stickers section before making the payment during the renewal.

Don’t hesitate to contact Ms. Bhavani from Membership Division via email bhavani@mamsb.org.my or 03-77225808 / 017-6586240 should you face any challenges to login.

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