[OR] [BI] [E3] [CBS] [2] [DP] Payments and Funds Transfer Services

CBS-2 Payments and Funds Transfer Services

Introduction

Payments and funds transfer services form one of the most critical operational pillars of Bank Islam Malaysia Berhad. As a full-fledged Islamic financial institution operating in a highly interconnected digital ecosystem, the Bank facilitates high volumes of retail, corporate, and interbank transactions daily.

These services are not only essential to customer confidence and financial stability. Still, they are also tightly regulated and dependent on multiple internal systems, national payment infrastructures, and third-party service providers. Any disruption to these services may result in significant financial, reputational, operational, and regulatory consequences.

This chapter provides a structured breakdown of CBS-2: Payments and Funds Transfer Services into its detailed sub-critical business services (Sub-CBS). By decomposing the high-level service into granular, process-level components, the Bank can better understand operational interdependencies, identify vulnerabilities, and define recovery priorities. This level of detail is crucial for strengthening operational resilience in alignment with regulatory requirements and global best practices.

Purpose of the Chapter

The purpose of this chapter is to clearly map and document the underlying processes that collectively enable the delivery of Payments and Funds Transfer Services. By identifying each Sub-CBS, readers will gain clarity on how payment services function end-to-end—from initiation and authentication to clearing, settlement, reconciliation, and reporting. This structured visibility enables stakeholders to assess risk exposure, determine impact tolerances, prioritise recovery strategies, and strengthen governance over critical payment operations.

Table P1: Detailed Processes for CBS-2

Breaking down CBS-2 into its detailed Sub-CBS components transforms operational resilience from a conceptual objective into a practical management framework. By understanding how each process contributes to the continuity of payment services, the Bank is better positioned to anticipate disruptions, isolate failure points, and activate targeted response and recovery measures. This structured decomposition also supports clearer accountability across business, operations, compliance, and technology functions.

Ultimately, resilience in payments is not achieved solely through system redundancy or contingency planning, but through deep process understanding and proactive risk management. With this detailed Sub-CBS foundation, Bank Islam can confidently advance toward defining impact tolerances, mapping dependencies, conducting scenario testing, and strengthening its ability to maintain uninterrupted payment services—even in the face of severe but plausible disruptions.

Implementing Operational Resilience for Bank Islam: Aligning with BNM and Global Best Practices
eBook 3: Starting Your OR Implementation
CBS-2 Payments and Funds Transfer Services
CBS-2 DP	CBS-2 MD	CBS-2 MPR	CBS-2 ITo	CBS-2 SuPS	CBS-2 ST

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