Author: Fintech News Malaysia

Bank Negara Malaysia (BNM) has warned that scammers are impersonating the central bank through fake websites and malicious apps. The schemes aim to steal personal and banking information, BNM said in a post on its X account, cautioning that a website can look official without being genuine. BNM urges the public to stay alert and check any suspicious information at bnm.gov.my/verify. The verification page collects impersonation attempts that BNM has flagged. These include deepfake advertisements featuring the Governor, emails and letters claiming to come from the central bank, and messages from people posing as its senior officers. BNM states on…

The Securities Commission Malaysia (SC) has added TrueFin, also listed as TrueFin Digital Ltd, to its onvestor alert list. The addition took effect on 5 November 2026. The SC identified the entity as operating a digital asset exchange (DAX) without registration. The regulator’s list of registered digital asset exchange operators in Malaysia includes HATA Digital, Luno Malaysia, MX Global, SINEGY DAX and Kinetic DAX. The investor alert list identifies unauthorised websites, investment products, companies and individuals that investors should be aware of before making investment decisions. The SC said the list is not exhaustive and is updated periodically. Investors can…

TikTok has quietly launched a standalone TikTok Shop app in four Southeast Asian markets, Singapore, Malaysia, Thailand and the Philippines, TechCrunch reported. Social media consultant Matt Navarra first spotted the release. The app, available on iOS and Android, lets users shop through live streams and short videos, get personalised product recommendations, check out in the app, and track orders. Its store listing also promises free shipping offers, first-order benefits and deals that are only available in the app. Those exclusive deals give shoppers a reason to buy through the new app rather than the main TikTok app. TikTok did not…

Microsoft is expanding its cloud infrastructure in Malaysia with a second region in Johor Bahru. The upcoming Southeast Asia 3 (SEA3) region will complement Malaysia West in Greater Kuala Lumpur, which opened in May 2025. Microsoft expects SEA3 to eventually become its largest cloud region in Southeast Asia, adding capacity for cloud and artificial intelligence (AI) workloads. The two regions will give businesses more options to distribute workloads, strengthen disaster recovery and maintain services during disruptions. This could benefit banks and financial institutions that depend on critical systems around the clock. More Cloud Options for Malaysian Businesses Malaysia West currently…

Malaysians earning at least RM24,000 a year can now apply for RHB Bank’s Sinar Credit Card-i. The Shariah-compliant credit card offers a fixed retail transaction profit rate of 14 percent per annum. It also has no annual fees for principal and supplementary cards or compounding profit charges. Applicants must be aged between 21 and 65, with credit limits capped at RM20,000 or twice their monthly income, whichever is lower. The card comes with Smart Move Balance Transfer, which allows cardholders to transfer outstanding balances from eligible credit or charge cards. Cardholders can also use CashXcess to access cash. Eligible purchases…

TNG eWallet users can now book rides in 47 countries and pay in ringgit without downloading local ride-hailing apps. Launched in partnership with Alipay+, the service covers more than 12,000 cities and connects users to local ride-hailing providers. These include DiDi Travel and AMap in China, Kakao T in South Korea and GO in Japan. Other supported providers include Bolt in the European Union and Lyft in the United States and Canada. Users can pay using their existing TNG eWallet balance, with fare estimates displayed before booking confirmation. Trip details and transaction records are also available within the app. The…

Skyro has launched its first credit product in Malaysia, offering cash loans through its mobile app. First-time borrowers can apply for up to RM1,000, subject to approval, with a four-month repayment tenure. The company plans to gradually increase borrowing limits, with a longer-term goal of offering loans of up to RM10,000. Skyro announced in September 2026 that it had secured approval from the Ministry of Housing and Local Government (KPKT) to provide online moneylending services in Malaysia. Malaysia is Skyro’s second Southeast Asian market after the Philippines. Skyro operates in Malaysia through AT Series Capital Sdn Bhd, a moneylender licensed…

SME Bank aims to train 100 B40 Malaysians for jobs paying between RM1,800 and RM6,000 a month under its latest skills programme. The bank has launched Zero to Hero 3.0 with GIATMARA and Zurich General Takaful Malaysia under Bank Negara Malaysia’s (BNM) iTEKAD Employment initiative. Participants will receive industry-recognised training in welding and metal fabrication, financial education and job placement support. The salary range reflects expected earnings rather than guaranteed outcomes. Samad Majid Zain, CEO of SME Bank, said, “The first cohort supported 30 participants in 2022, followed by 60 participants in 2024. All 90 participants secured employment, achieving a…

Google plans to invest US$15 billion in Malaysia between 2027 and 2028 to expand its data centre infrastructure. Its computing capacity in Selangor will also support the company’s upcoming Malaysian cloud region for enterprise customers. The investment builds on Google’s US$2 billion commitment in 2024 for its first Malaysian data centre and cloud region. Google’s first data centre campus at Elmina Business Park in Selangor is now operational, with additional campuses planned in Selangor and Negeri Sembilan. Google Cloud expansion to support enterprise customers Google said its cloud capabilities help organisations deliver secure, high-performance, low-latency services and develop custom AI…

Hong Leong Bank (HLB) is strengthening its in-house technology capabilities through talent development, AI adoption and cloud modernisation. The bank has followed its “Digital At The Core” strategy for more than a decade, focusing on building internal engineering expertise and maintaining ownership of its technology platforms. A key part of this approach is its Group Technology Graduate Trainee Programme, which gives graduates practical experience across different technology functions. Graduate trainees move into permanent roles The 12-month programme consists of four rotations designed to develop technical expertise and operational skills. All 10 trainees in the graduating cohort have taken permanent roles…

Amazon Web Services (AWS) wants to bring AI into the daily work of Malaysia’s civil service. Its new Semarak AI Malaysia programme aims to give up to 445,000 government officers access to AI tools. The initiative also targets businesses and students, building on AWS’ RM29.2 billion investment commitment in Malaysia. Government officers will gain access to Amazon Quick through the National Digital Department’s (JDN) AI-as-a-Service platform to analyse data, review policies and support daily tasks. GovTech Malaysia is also launching GovHub using AWS’s AI development tool Kiro. The pilot will involve 500 developers in 2026, with plans to reach 4,000…

Malaysia’s use of e-Invoice data has contributed to taxpayers declaring RM1.68 billion in taxes payable for previous years. More than 97,000 taxpayers voluntarily filed returns for previous years, according to the Inland Revenue Board of Malaysia (HASiL). The tax authority attributed the improvement in voluntary compliance partly to its use of e-Invoice data. More than 269,900 taxpayers had submitted 2.14 billion e-Invoices as of 2 November 2026. The figures were disclosed in a statement issued by HASiL in conjunction with its Innovation and Integrity Day 2026, which was officiated by Prime Minister Anwar Ibrahim. Gross direct tax collections also increased…

Bank Negara Malaysia (BNM) plans to explore using its regulatory sandbox to help Islamic banks test new Shariah-compliant financial products. The proposal forms part of a strategy paper that aims to broaden the use of Shariah contracts and make it easier for Islamic banks to develop new products. BNM said the sandbox could help banks identify legal, prudential and operational barriers while assessing the commercial viability and customer value of new products. The central bank sees opportunities for partnership-based, investment-based and asset-based financing to support business expansion and project financing. These structures could also help micro, small and medium enterprises…

HSBC Malaysia has upgraded its mobile foreign exchange (FX) service, giving customers more ways to track exchange rates and convert currencies. The enhanced FX on Mobile service includes an FX Watchlist for monitoring selected currencies and an FX Chart showing historical exchange rate movements. Customers can also set target rates and receive notifications through FX Rate Alerts. The service allows customers to convert currencies around the clock using live exchange rates through the HSBC Malaysia Mobile Banking App. HSBC Premier customers can also transfer money to more than 50 countries and territories without transfer fees through Global Money Transfers’ “Send…

MyEG is challenging RM353.13 million in additional income tax assessments, including penalties, issued by the Inland Revenue Board (IRB) for 2021 to 2023. Zetrix AI Berhad disclosed in a Bursa Malaysia filing that its wholly-owned subsidiary MyEG received a letter from the IRB on 28 October. The amount comprises RM333.11 million related to transfer pricing and RM20.02 million in deemed interest, including penalties. The letter also informed MyEG that the Malaysian government had filed a civil suit against the company over the matter. MyEG has appealed the assessments to the Special Commissioners of Income Tax while seeking an amicable resolution…

CIMB Bank has expanded DuitNow QR payments through its CIMB OCTO app to five additional destinations: China, Hong Kong SAR, South Korea, the Philippines and Laos. Customers can now pay at participating Alipay+ merchants in these markets without downloading another payment app or creating a separate Alipay+ account. The expansion adds to OCTO’s existing cross-border QR payment coverage in Singapore, Indonesia and Thailand, bringing its total coverage to nine markets, including Malaysia. Enabled through Payments Network Malaysia’s (PayNet) outbound DuitNow QR connectivity with Alipay+, the service allows users to scan participating merchants’ QR codes displaying the Alipay+ logo, then review…

Malaysia’s Juristech is making a push into Thailand’s non-bank lending market through a new agreement with TBN Corporation. The two companies have signed an exclusive MOU to offer end-to-end lending systems. TBN is targeting around 1,000 potential customers among Thailand’s more than 3,600 non-bank operators. The systems cover loan applications, know-your-customer (KYC) checks, credit assessments, loan approvals, collateral management, debt collection and legal processes. TBN plans to offer both customised solutions and ready-to-use packages to lenders, including hire-purchase and personal loan providers. Juristech has more than 23 years of experience, with its technology used by 160 financial institutions across nine…

Equinix has appointed Effendi Azmi Hashim as Managing Director for Malaysia, effective immediately. He joins from Kyndryl, where he led the Malaysia and Indonesia business, as Equinix advances more than US$700 million in investment commitments in the country. Based in Kuala Lumpur, Effendi will oversee the company’s Malaysian strategy, customer growth and operations. He succeeds Cheam Tat Inn, who will retire from full-time operational leadership. His appointment comes as Equinix seeks to meet growing demand for data centre capacity supporting cloud services, AI workloads and other data-intensive applications in Malaysia. Effendi brings 25 years of technology leadership experience Effendi has…

Binance is in talks with Malaysian regulators about a potential licensed return to the country, more than five years after authorities ordered the cryptocurrency exchange to cease local operations. The company has spent the past 10 months engaging the Securities Commission Malaysia (SC) and Bank Negara Malaysia (BNM) on a possible licensed business model, Bloomberg reported. A Binance spokesperson confirmed the discussions on 31 October, saying they focused on the viability and structure of a licensed business in Malaysia. The exchange did not disclose the type of license it is seeking. Malaysian authorities continue to block access to its website…

Hong Leong Bank (HLB) is giving Malaysian travellers more ways to pay overseas by adding Alipay+ to its existing QR payment network. PayNet recently expanded DuitNow QR payments to China, Hong Kong, South Korea, the Philippines and Laos. HLB joins Maybank and CIMB as the first banks to support the service. Customers can make instant payments directly from their ringgit bank accounts through the HLB Connect app without downloading another app or topping up a separate e-wallet. Depending on the merchant and payment network, they can scan a merchant’s QR code or present their HLB QR Pay code for scanning.…