Author: Fintech News Malaysia

Bank Muamalat will launch a new Islamic credit card with profit rates starting from 14% per year and no annual fee. The Awwal Credit Card-i will apply profit on a non-compounding basis and carry no hidden charges. Customers who settle their full outstanding balance before the payment deadline will not incur any profit charges. The card will also include free takaful protection for outstanding balances at no additional cost. Bank Muamalat President and Chief Executive Officer Datuk Khairul Kamarudin said, “The Awwal Credit Card-i was developed based on the principle that credit facilities should be a tool to strengthen financial…

Maybank has put its name on Menara Merdeka 118 as the building becomes the group’s new headquarters. Its registered address is now Level 70, Menara Merdeka Maybank, Presint Merdeka 118, 50118 Kuala Lumpur. The bank has also renamed its former headquarters on Jalan Tun Perak from Menara Maybank to Menara Tun Perak. Both changes took effect on 28 July 2026. Maybank’s Kuala Lumpur Main Branch will continue operating from Menara Tun Perak until further notice. Existing accounts and banking services at the branch will not be affected. Featured image: Edited by Fintech News Malaysia, based on image by…

Bank Negara Malaysia (BNM) has set out three priorities for its upcoming Financial Sector Blueprint 2027–2030. BNM Governor Dato’ Sri Abdul Rasheed Ghaffour outlined the priorities during his keynote address at Sasana Symposium 2026. The blueprint will focus on finance for a more resilient society, finance for a more prosperous society and a future-proof Malaysian financial system. Dato’ Sri Abdul Rasheed also stressed the need to sustain reforms as Malaysia navigates an increasingly uncertain global environment. “Resilience is not about preserving things exactly as they are. It is about continually renewing our ability to adapt and seize new opportunities as…

More than 3,000 businesses are expected to benefit from a RM1.3 billion guarantee facility established by OCBC Malaysia and Credit Guarantee Corporation (CGC). The allocation raises the total guarantee coverage under their partnership to RM5.5 billion, The Sun reported. OCBC Malaysia and CGC had previously supported more than 10,000 SMEs through RM4.2 billion in CGC-backed Islamic and conventional financing. The new facility will be available to existing and prospective OCBC Malaysia customers, with a particular focus on Bumiputera businesses. It also includes a scheme for targeted segments under Bank Negara Malaysia’s SME Stabilisation Relief Facility. OCBC Malaysia CEO Tan Chor…

RHB cardholders can now receive discounts on selected Batik Air economy and business class fares. Eligible RHB Credit Card/-i and Debit Card/-i holders can get 15% off Economy Class Value and Flexi fares, as well as Business Class Value fares. A 25% discount applies to Business Class Flexi fares. The promotion is valid for bookings made until 24 July 2027, subject to the applicable terms and conditions. Jeffrey Ng Eow Oo, Managing Director of Group Community Banking at RHB Bank, said “Travel remains an important priority for many Malaysians, whether for business, leisure or family commitments. Through this collaboration, we…

Bank Rakyat and Paysys by NTT DATA have launched an Android payment soundbox for Malaysian SMEs. The device combines digital payment acceptance, real-time voice notifications and digital receipts in a single terminal. Powered by the Kozen N2 Android EMV device, it supports Visa, Mastercard, MyDebit, e-wallet and contactless payments. Merchants receive an instant voice notification after each successful transaction, providing immediate payment confirmation. The device is designed to help MSMEs manage digital payments more easily while improving transaction visibility and operational efficiency. Ahmad Shahril Mohd Shariff, Group Chief Executive Officer of Bank Rakyat, said, “Through our collaboration with Paysys, we…

CTOS Digital has agreed to sell a 10% stake in Juris Technologies to its initial and majority shareholder Natsoft for RM50 million. The CTOS stake sale will reduce its holding in the software developer from 49% to 39%, with Juris remaining an associate after completion. CTOS acquired its 49% interest for RM205.8 million in March 2022. The sale price is based on an agreed RM500 million valuation for Juris, equivalent to 17 times earnings based on its audited 2025 accounts. Juris recorded nearly RM30 million in profit after tax and net assets of RM69.6 million that year. The stake being…

Maybank users in Malaysia are the first in the country to make QR payments through Samsung Wallet. Eligible Galaxy users can launch Maybank’s MAE Scan & Pay from the digital wallet before completing transactions through the banking app. The service supports QR payments in Malaysia, Singapore, Thailand, Indonesia and Cambodia. The feature began rolling out on 21 July 2026 and is available on eligible Samsung Galaxy smartphones with the latest wallet and software updates. Charles Kim, President of Samsung Malaysia Electronics, said,  “Our partnership with Maybank represents a significant step forward in expanding the Samsung Wallet ecosystem in Malaysia. By…

MBSB Bank is widening access to general takaful with three products from Zurich General Takaful Malaysia. The bancatakaful partnership will offer Shariah-compliant protection for homeowners, individuals, families and businesses through MBSB Bank’s branch network and customer ecosystem. The initial offering includes Zurich Homeowner Premier Takaful, which protects residential properties and household contents against unexpected events. Zurich MBSB GPA Takaful allows businesses and organisations to provide employees with financial protection in the event of accidental death, disablement or injury. Personal Sentinel V3 Plus Takaful offers financial support to individuals and families following unforeseen accidents. Rafe Haneef, Group Chief Executive Officer of…

Maybank and the Credit Guarantee and Investment Facility (CGIF) have agreed to widen funding options for issuers across ASEAN+3, The Edge reported. The MoU covers new financing solutions and capital market instruments, including digital bonds, Islamic finance, sustainable finance and transition finance. The two organisations will also explore funding for energy transition projects, the digital economy and digital infrastructure. Other areas include capacity building and helping issuers access more diverse sources of capital. CGIF is a trust fund of the Asian Development Bank that supports local currency bond issuance through credit guarantees. The agreement builds on previous bond and sukuk…

MBSB has sold its 100 percent stake in MIDF Amanah Asset Management (MAAM) to Tortoise Works. The financial terms of the deal were not disclosed. The sale was completed through its wholly owned subsidiary Malaysian Industrial Development Finance Berhad (MIDF) on 23 July 2026. The group said the divestment supports its strategy to focus on its core businesses and is not expected to have a material financial impact. The Securities Commission Malaysia approved the transaction on 9 July 2026. “Sharpening our focus on core banking means being deliberate about what sits outside it. MAAM has built a respected name over…

CGC Digital and Credit Bureau Malaysia are exploring new credit risk tools to help Malaysian MSMEs prepare for financing. The companies signed a MoU to combine CGC Digital’s digital reach with Credit Bureau Malaysia’s credit information and risk analytics capabilities. The partnership will examine the development of credit risk models and analytical solutions that could provide a clearer view of MSME needs and support financing decisions. Both organisations also plan to run education and outreach initiatives to help business owners understand their credit position and the support available to them. “Many MSMEs struggle not just to access financing, but to…

The Securities Commission Malaysia (SC) and the Securities and Futures Commission of Hong Kong (SFC) have signed a MoU to establish a mutual recognition framework for funds and a simplified dual IPO framework. The agreement aims to broaden investment opportunities, expand access to capital, and deepen cross-border market participation between both jurisdictions. Expanding cross-border fund access Under the MoU, the mutual recognition of funds scheme now covers futures-based ETFs, leveraged and inverse ETFs, commodity ETFs, and listed REITs. Eligible ETFs and listed REITs approved in either market may be offered to investors in the other jurisdiction. They can do so…

Fiuu can now process JCB card transactions directly in Malaysia, Singapore and the Philippines. The company has secured a JCB direct acquiring licence as a regional acquirer, allowing it to connect directly with JCB and reduce its reliance on intermediaries. The arrangement gives Fiuu greater control over transaction processing, settlements and merchant support across online and physical payment channels. Fiuu reported processing US$13 billion in total payment volume during the 2025 financial year. “This milestone reflects the next phase of Fiuu’s regional acquiring growth. Businesses expanding across Southeast Asia need payment partners that can combine local market understanding, direct scheme…

Malaysia has launched a new funding scheme to help manufacturers pay for automation and digital upgrades. The Ministry of Investment, Trade and Industry and the Securities Commission Malaysia introduced the Smart Manufacturing scheme. It falls under the New Industrial Master Plan 2030 Strategic Co-Investment Fund, or NIMP CoSIF. Under the scheme, the government will contribute RM2 for every RM1 raised from private investors. The 2:1 funding ratio will remain in place until 2030. Eligible SMEs and mid-tier companies can use the scheme to invest in areas such as artificial intelligence, robotics, data analytics and smart production systems. MITI and the…

Penang has set its sights on a 100% cashless transaction rate after recording 99.40% under the national Cashless Boleh 5.0 campaign. The performance earned the state the national Outstanding Digital Payment Usage Performance Award, Bernama reported. It marked Penang’s second consecutive win following a 95% rate in the previous edition. All 24 state departments and agencies are taking part in efforts to expand the use of cashless payment methods among the public. H’ng Mooi Lye, chairman of the State Local Government and Town and Country Planning Committee, said the government is collecting user feedback to assess existing services and identify…

Malaysia is set to replace its nearly three-decade-old computer crime law after the Dewan Negara approved the Cybercrimes Bill 2026. The bill will repeal the Computer Crimes Act 1997 and introduce a broader framework for tackling online offences, Free Malaysia Today reported. Deputy Rural and Regional Development Minister Rubiah Wang explained that the bill applies when technologies such as artificial intelligence are used to commit crimes. She cited sexual exploitation, election interference and fraud as examples. Lawful reporting, academic work and freedom of expression would not be targeted under the proposed law. Senators also proposed tougher penalties for large online…

CIMB has enabled Apple Pay for customers with eligible Credit Cards/-i in Malaysia. Customers can add supported cards to Apple Wallet and use them to pay in stores, online and in apps through an iPhone, Apple Watch, iPad or Mac. Cards can be added through the CIMB OCTO app or directly through Apple Wallet. Payments require Face ID, Touch ID or a device passcode. Cardholders will continue to receive the existing benefits and rewards tied to their CIMB Credit Cards/-i. Most CIMB Credit Cards/-i support Apple Pay, except the CIMB PETRONAS Visa Infinite-i and CIMB PETRONAS Visa Platinum-i. CIMB is…

HLB Private Bank will give eligible private banking clients in Malaysia direct access to global private equity and private credit funds. The bank plans to launch the Global Private Equity Fund-of-Funds II and the Private Markets Evergreen Income Fund. The funds will offer exposure to global fund managers, infrastructure credit, private infrastructure, intellectual property royalties and other private market assets. HLB Private Bank unveiled the offerings at its Private Markets Summit 2026 in Malaysia. It cited projections that global private market net asset value could reach US$25 trillion by 2030. Jeffrey Yap, Managing Director and Regional Head of Wealth Management…

CIMB Private Wealth is now available to affluent individuals and business clients across ASEAN. The segment combines investment, financing, protection and advisory services, including conventional and Shariah-compliant solutions. Customers will receive support from senior relationship managers and certified investment advisers, alongside portfolio reviews, asset allocation guidance and market insights from CIMB’s Chief Investment Office. Digital wealth advisory is also available through the MyWealth service on CIMB’s OCTO app. Business clients can draw on the group’s commercial and wholesale banking capabilities while managing their personal investments and cross-border activities. Other benefits include regional private wealth privileges and the CIMB Private Wealth…