V Systems Malaysia announced that it was engaged by Khazanah Nasional for Malaysia’s first tokenised sukuk pilot programme. The pilot involved a RM100 million issuance under Khazanah’s Sukuk Danum Programme, an Islamic medium-term notes programme of up to RM20 billion. The issuance was carried out in collaboration with the Securities Commission Malaysia and uses distributed ledger technology to create a digital record of the underlying sukuk. V Systems supported the initiative by helping design the frameworks, workflows and control processes for the programme. Aeris Chain to Support Domestic Tokenisation Initiatives The company added that the programme was built on Aeris…

Banks across Asia Pacific are navigating a period of rapid change in the payment ecosystem. Mobile wallets, digital commerce, and real-time payments have become part of everyday financial activity. The shift toward alternative payment methods is accelerating, with Accenture estimating that up to US$13 trillion in transaction value could move away from traditional banking channels by 2030. At the same time, cards continue to play a critical role in powering online transactions, digital wallets, and international payments.  For many financial institutions in the region, however, innovation is constrained by legacy infrastructure. Core systems that were originally designed decades ago remain…

DuitNow QR transaction volumes more than doubled in 2025 to three billion transactions, as QR payments became a preferred option for consumers and merchants in Malaysia. Bank Negara Malaysia (BNM) Governor Dato’ Sri Abdul Rasheed Ghaffour said the growth of QR payments reflects a wider shift towards faster and more seamless digital payments, with e-money usage in Malaysia outpacing the growth trajectory of payment cards in 2025 by 10%. QR payments have gained traction due to their convenience, cost effectiveness and ease of use, while Malaysians now make more than one digital payment a day on average, compared with about…

Visa has launched Agentic Ready in Malaysia with Alliance Bank, CIMB and Maybank to help card issuers prepare for AI-initiated payments. The programme is part of Visa’s wider Asia Pacific rollout focused on agentic commerce, where AI agents may initiate and complete transactions on behalf of consumers. In its first phase, Visa Agentic Ready will focus on issuer readiness. Banks will be able to test agent-initiated transactions in a controlled, production-grade environment as part of the readiness phase. The programme uses Visa’s existing network capabilities, including tokenisation, identity, risk management and payment controls, to examine how these transactions could be…

OceanBase will open a new global support center in Kuala Lumpur, Malaysia as part of its international expansion, alongside its international headquarters in Singapore. The Malaysia center will provide services including solution architecture and technical support, with the aim of supporting global customers and strengthening business continuity. The move follows OceanBase’s GO GLOBAL GO Program, launched in October 2025 to expand its products, services, sales and marketing operations internationally. OceanBase now serves more than 4,000 customers globally, including more than 100 fintech customers and over 400 financial institutions. Its fintech clients include e-wallets such as TNG Digital in Malaysia and…

What does it take to launch a full digital bank in under a year and have it outperform 70 physical branches? Bank Muamalat’s Atlas did exactly that. Built in just 9 months, it onboarded 61% new-to-bank customers in its first six months and delivers the same customer acquisition power as 70 physical branches from a single app. Vincent Fong sits down with Hazrizal Hasan, Head of Digital Banking at Bank Muamalat Malaysia, and Chirag Amla, Principal Solutions Architect for APAC at Mambu, to unpack how they pulled it off and what comes next for Islamic banking. In this episode: How…

Bank Muamalat has launched ATLAS, a Shariah-compliant digital banking platform that lets customers open and manage savings accounts without visiting a branch. The platform includes a Shariah-compliant savings solution and a Savings Pouch feature offering a profit rate of up to 2.25 percent per annum. ATLAS also offers lifestyle features for Muslim users, including prayer times, daily supplications, Al-Quran access, kiblat direction and mosque locators. Bank Muamalat plans to add aqiqah and qurban services in future updates. The launch follows Bank Muamalat’s earlier digital overhaul, which included a multi-year partnership with Google Cloud and plans to integrate its systems with…

Bank Negara Malaysia (BNM) fines Zurich Malaysia’s insurance and takaful units a combined RM1.56 million for sanctions screening failures. Zurich General Insurance Malaysia Berhad (ZGIMB) was fined RM1.04 million, while Zurich General Takaful Malaysia Berhad (ZGTMB) received a RM520,000 penalty. BNM imposed both penalties on 19 January 2026, with both entities settling their fines on 26 January. Outdated database at the root of the breach As reporting institutions, both Zurich entities are required to screen existing, potential and new customers against the Domestic List and the United Nations Security Council Resolutions (UNSCR) List as part of their customer due diligence…

Takaful Malaysia Am has partnered Handshakes to strengthen data-driven compliance and risk monitoring in Malaysia’s takaful sector. The companies signed a memorandum of understanding to integrate corporate intelligence, Ultimate Beneficial Ownership (UBO) governance and risk insights into Takaful Malaysia Am’s onboarding, due diligence and ongoing monitoring processes. The partnership comes as Bank Negara Malaysia tightens scrutiny of AML compliance across Malaysia’s takaful and financial sector, covering anti-money laundering, counter-terrorism financing, counter-proliferation financing and targeted financial sanctions requirements. The integration is expected to provide clearer visibility into ownership structures and help identify risk exposure earlier across the customer lifecycle. Handshakes will…

PayNet is extending MyDebit into mobile wallets with support from IDEMIA Secure Transactions’ tokenisation platform. The rollout gives participating banks a way to offer tokenised MyDebit card payments through digital wallets. Eleven banks are offering the capability to their cardholders. AmBank customers are the first to add their MyDebit cards to a major mobile wallet for contactless and in-app payments, with other banks expected to follow. The IDEMIA Secure Transactions platform replaces sensitive card details with a unique digital token, allowing transactions to be processed without exposing actual card information. It supports mobile NFC, in-app and online payments. PayNet’s MyDebit…

Bank Negara Malaysia (BNM) has introduced a RM5 billion facility to support SMEs and microenterprises affected by the West Asia conflict. The facility is aimed at helping businesses manage operational disruptions, cash flow pressures and short-term financial obligations. Under the SME Stabilisation Relief Facility (SME SRF), eligible businesses can obtain financing of up to RM750,000 for up to five years at a maximum rate of 3.75% per annum, inclusive of the guarantee fee. The financing will be supported by guarantees of up to 80% from Credit Guarantee Corporation Malaysia (CGC) or Syarikat Jaminan Pembiayaan Perniagaan (SJPP), particularly for SMEs without…

Maybank and CIMB played key roles in the first tokenised sukuk issuance in Malaysia, a RM100 million pilot by Khazanah Nasional Berhad in collaboration with the Securities Commission Malaysia (SC). The one-year issuance forms part of Khazanah’s Sukuk Danum Programme, an Islamic medium-term notes programme of up to RM20 billion based on the Shariah principle of Wakalah bi al-Istithmar. Maybank acted as Joint Lead Manager, Custodian and Primary Subscriber for the tokenised sukuk, while CIMB served as Sole Principal Adviser, Sole Lead Arranger and Sole Facility Agent. CIMB also supported the end-to-end issuance process, including the operational, technical and governance workflows…

Khazanah Nasional Berhad and the Securities Commission Malaysia (SC) have priced the country’s first tokenised sukuk, a RM100 million issuance that runs on distributed ledger technology. The tokenised sukuk creates a cryptographically secure digital record, or “digital twin”, of the underlying Islamic bond, allowing it to be issued and transferred as a token on a shared ledger. The deal forms the inaugural tranche of Khazanah’s Sukuk Danum Programme, an Islamic Medium-Term Notes (IMTN) programme of up to RM20 billion in nominal value. The tranche carries a one-year tenure and is structured under the Shariah principle of Wakalah bi al-Istithmar, in…

Global payment platform SUNRATE has secured a Bank Negara Malaysia (BNM) license, receiving Class B approval under the Money Services Business Act 2011. The regulatory milestone permits the company to offer regulated money remittance services to businesses. It facilitates cross-border payment operations for local enterprises expanding internationally, as well as global firms entering the Malaysian market. The move deepens SUNRATE’s existing presence in the country. The company previously established a Kuala Lumpur office to support customer experience, product development, and regional business growth. Demand for regulated financial infrastructure in Malaysia is rising as digital trade and cross-border commerce continue to…

TNG Digital, the operator of TNG eWallet, has wrapped up its first FINHACK hackathon, where more than 300 participants built AI-led solutions for fintech challenges such as fraud, security and financial inclusion. Held from 25 to 26 April 2026 at Grand Summit, Connexion, Bangsar South, the 36-hour event brought together students, developers, designers and aspiring entrepreneurs from across Malaysia. The TNG Digital FINHACK hackathon focused on problem statements covering artificial intelligence, digital payments, financial access and secure digital finance. Financial inclusion made up 35.5 percent of submissions, followed by security and fraud at 33.9 percent, and innovation at 30.6 percent.…

Ryt Bank and Ranhill SAJ have introduced a cashback campaign for Johor customers paying water bills through selected channels, as reported by the New Straits Times. Customers must activate a Ryt Bank account and pay at least RM10.50 to qualify. Cashback is capped at RM6 over two months. Eligible payments include Ryt Bank’s Snap & Pay JomPAY feature, which captures bill details from an uploaded image, as well as Ryt Card transactions and payments at Ranhill SAJ counters. Ranhill SAJ Interim CEO Mohd Hedzir Hanafi linked the tie-up to Johor’s digitalisation efforts, while Ryt Bank Interim CEO Wilson Soon positioned…

PayNet processed 8.44 billion digital payment transactions in 2025 as cashless payments gained further ground across Malaysia. The total reflects wider use of digital payments across retail spending, transport, peer-to-peer transfers and small businesses, with adoption rising among banks, non-bank players, merchants and consumers. Praveen Rajan, Chief Executive Officer of PayNet, said, “The continued growth in digital payments reflects a broader shift in how Malaysians move and manage money in their daily lives. Digital payments are becoming the preferred payment method across consumers, businesses and public services, enabled by continued innovation and collaboration across banks, non-banks participants, merchants and the…

Ryt Bank has rolled out PayLater on its card, giving users another way to manage everyday spending across more payment channels. The update extends the feature beyond DuitNow QR to card payments, allowing users to use PayLater for online purchases, in-store transactions and QR payments. The service now works across DuitNow QR and Visa payment networks. Ryt Bank said the update gives customers a single PayLater option across more payment scenarios, rather than limiting use to selected merchants or platforms. Eligible users can access up to RM1,499 in instant credit through Ryt PayLater. Users can avoid interest charges if they…

Fiuu has rolled out Tap to Pay on iPhone in Malaysia, allowing its merchants to accept contactless payments with only an iPhone and its Virtual Terminal app. The service lets merchants accept contactless credit and debit cards, Apple Pay and other digital wallets without needing a separate payment terminal. Customers can complete a payment by holding their card or device near the merchant’s iPhone, with the transaction processed through NFC technology. The Malaysia launch follows Fiuu’s rollout of Tap to Pay on iPhone in Singapore in December 2025. “The future of commerce is not about choosing between online and offline payments,…

HitPay has launched Tap to Pay on iPhone in Malaysia, allowing merchants to accept contactless payments using an iPhone and the HitPay iOS app. The feature supports contactless credit and debit cards, Apple Pay and other digital wallets. Customers can pay by holding their card or device near the merchant’s iPhone, with transactions completed through NFC technology. The launch follows HitPay’s rollout of Tap to Pay on iPhone in Singapore in December 2025. The service is aimed at smaller businesses looking to accept in-person payments without dedicated hardware or monthly terminal rentals. Merchants can receive instant, full upfront payments, which…