This Code of Practice is specific to persons/parties holding licenses in the banking sector and financial institutions in Malaysia, namely all banking and financial institutions licensed under the Financial Services Act 2013, the Islamic Financial Services Act 2013 and the Institutions Act Development Finance 2002, and was developed by the Association of Banks in Malaysia (ABM) which has been appointed as the Data User Forum for the banking sector and financial institutions, with the involvement and assistance of the Malaysian Investment Banking Association (MIBA), the Association of Islamic Banking Institutions Malaysia (AIBIM) and the Association of Financial Institutions and
Development Malaysia (ADFIM).

Banking and Financial Institutions holding licenses under the Labuan Financial Services and Securities Act 2010 and the Labuan Islamic Financial Services and Securities Act 2010, as applicable, are not considered Data Users for the purposes of this Code of Practice and therefore do not need to comply. However, they may choose to comply with this Code of Practice voluntarily, but the penalties in this Code do not apply to them.