Money Services Business (MSB) refers to money exchange business, remittance business and wholesale currency business. Money Services Business License consists of 4 categories of licenses, namely class A, B, C, and D. Where, Class A license is used to conduct money changing business and remittance business only. Group B is referring for conducting remittance business only. Group C is applying to conduct money changing business only and group D is to conduct wholesale currency business only. All of these license categories are regulated by the Money Services Business Act 2011. It serves to bring about changes that empower the central bank to streamline the industry. A license is valid for 3 years. Except for such other short period as may be specified by the Bank in the license.

A money -changing business is a business that makes a currency exchange transaction at an exchange rate, or a business of buying or selling travelers checks on behalf of an issuer of travelers checks at an exchange rate; or any other business as prescribed by the Bank. The Money Changing Business is administered under the Money Services Business Act 2011 (Act 731) and is under the supervision of the Bank Negara Malaysia (BNM) Money Services Business Regulatory Department.
Doing a business without license is an offense under Section 4 (1) of Act 731 and will be fined under Section 4 (4) of Act 731.

LIST OF LICENSED MONEY CHANGERS IN MALAYSIA UNDER BANK NEGARA
https://www.bnm.gov.my/existing-regulatees

source : https://malayacorporate.com/article/elementor-4663/