PKMC registration: FMAM membership, enrolment and exam booking

Who needs to register for PKMC?

Bank Negara Malaysia's Code of Conduct for Malaysia Wholesale Financial Markets requires dealers and brokers to be licensed members of ACI-Financial Markets Association of Malaysia (FMAM) before they deal or broke in the wholesale financial markets. Financial institutions must make sure FMAM's professional requirements are met before appointing anyone as a dealer or broker.

AICB describes PKMC as a professional requirement set by ACI-FMAM for dealers and brokers in licensed financial institutions and money broking firms. FMAM members must pass all four modules before they are licensed to take part in the interbank foreign exchange and money market. The certificate is designed for FMAM's Provisional, Provisional Broker and Affiliate members.

Step 1: Get FMAM (PPKM) membership

You must have a valid FMAM (PPKM) membership to apply, and you must stay an active FMAM member throughout the programme. You do not need to be an AICB member. AICB only verifies your FMAM membership when you apply, so contact ACI-FMAM about joining.

Your PKMC clock starts when you become an FMAM member, not when you enrol in a module, so plan your study before or soon after you join.

Step 2: Apply for PKMC on the AICB Member Portal

• Apply through the AICB Member Portal with your academic and professional certificates, your IC or passport and your CV.
• Certificates must be certified true copies, for example by your employer's HR official or line manager, a university official, a Commissioner for Oaths or a notary public.
• If documents are missing, you have 30 days to provide them, or the application is cancelled.
• AICB verifies your FMAM membership, so review of FMAM programme applications can take up to 15 business days.

Step 3: Enrol in a module and pay the fee

Once approved, you must enrol in a module within 30 days or the approval is cancelled. Fees are paid when you enrol in each module, and the chargeable fee is based on the date of registration.

• Module fee: RM1,000 per module, for each of Modules I to IV.
• Exam resit: RM850 per module.
• All fees are subject to SST and are non-refundable and non-transferable.
• AICB lists each PKMC module as HRD Corp claimable through HRD Corp's On-the-Job Training (OJT) scheme and refers employers to HRD Corp for details.

Step 4: Book your PKMC exam

• Applications and exam registrations are open all year. Exams run in monthly windows, for example 1-30 November 2026 and 1-31 December 2026.
• Choose an online-proctored exam in a private, closed room, or a Pearson VUE test centre.
• AICB may withdraw your exam if you do not book within the examination month.
• Results are released within 7 days and appear on the AICB Member Portal.
• AICB recommends a three-month study period before the exam, so time your booking around your study plan.

Rescheduling, deferment and resits

• You can reschedule a booking up to three times per module registration through the Member Portal. Test centre bookings must be changed at least 48 hours before the exam; online-proctored bookings can be changed any time before the exam starts.
• If you miss the exam without rescheduling in time, you are marked absent.
• You can apply to defer for reasons such as illness, bereavement or natural disasters, from 48 hours before to 72 hours after the booked exam. Work commitments are not accepted.
• There is no limit on resits within your time limit. AICB suggests allowing a month to revise before a resit.

The two-year PKMC time limit

You must pass all four modules within two years of admission as an FMAM member. If you don't, FMAM terminates your membership and any module passes are nullified. You also lose access to the online learning materials once your time limit expires.

You can apply to extend the time limit only on grounds such as long-term or severe medical conditions, natural disasters with a prolonged impact, or other circumstances beyond your control.

What happens after you pass all four modules?

You receive the Malaysian Financial Markets Certificate, with a Distinction award for candidates who meet AICB's conditions, including at least 85% in each module at the first sitting. You must be an active FMAM member to receive the certificate.

A Provisional member is then upgraded to an Ordinary or International member of ACI-FMAM and admitted as an Associate member of AICB. Authorised dealers employed in a dealing room can use the Certified Financial Markets Practitioner (CMP) designation, and those with at least 10 years of dealing experience can use Certified Senior Financial Markets Practitioner (CSMP), subject to AICB's conditions.

PKMC preparation with Ogos Learning

Ogos Learning is a Malaysian finance training provider for banks, fund management companies and capital market intermediaries, covering SIDC CPE courses, PKMC exam preparation and HRD Corp claimable programmes. Founder and principal trainer Jin Yoong Chong, CFA, is an HRD Corp accredited trainer who has run accredited CPE courses for capital market licence holders since 2010. He has served as President of the CFA Society Malaysia and authored the PKMC Module 2, 3 and 4 textbooks with AICB.