XMM-Newton observations of the bright Seyfert 1.9 galaxy MCG-5-23-16 have revealed a broad FeK \alpha emission line which is nearly symmetric in contrast to the broad and red-shifted asymmetric FeK \alpha line sometimes observed from Seyfert 1 galaxies . The FeK \alpha line has two distinct components – a narrow unresolved component with equivalent width of \sim 40 { ~ { } eV } and a broad component with full width at half maximum of \sim 40000 { ~ { } km s } ^ { -1 } and equivalent width of \sim 120 { ~ { } eV } . An absorption feature at \sim 7.1 { ~ { } keV } has also been observed . The energies of the emission and absorption features are consistent with those arising from neutral iron . The broad component is consistent with an FeK \alpha emission line expected from a relativistic accretion disk around a Schwarzschild or a Kerr black hole . Alternatively , most of the flux in the broad component could also be modeled as reflection emission which mimics emission line like feature due to the presence of iron K-shell edge at \sim 7.1 { ~ { } keV } , however , the reflection fraction , R \sim 3 , is much higher than that inferred from the BeppoSAX observations ( R \sim 0.5 ) . The disk inclination angle of \sim 47 \deg , inferred from the disk-line fits , and the absorption column ( N _ { H } \sim 10 ^ { 22 } { ~ { } cm ^ { -2 } } ) , inferred from the low-energy spectral curvature due to photoelectric absorption , suggest that our line of sight passes through the outer edge of a putative torus and are consistent with those expected for a Seyfert 1.9 galaxy falling within the unification scheme . The strength of the narrow iron K \alpha emission and the optical depth of the iron K absorption edge suggest their origin in the putative torus with N _ { H } \sim 10 ^ { 24 } { ~ { } cm ^ { -2 } } in the inner regions and N _ { H } \sim 10 ^ { 22 } { ~ { } cm ^ { -2 } } in the outer edges . The strength of the broad component of FeK \alpha varied by a factor of \sim 2 between the two XMM-Newton observations taken \sim 6 { ~ { } months } apart , while the narrow component of FeK \alpha and the continuum flux did not appear to vary appreciably . There is evidence for a weakening in the strength of the broad iron K \alpha emission with the flattening of the observed continuum . This can perhaps be explained if the shape of the continuum is coupled with the ionization stage of the reflector .