Roblox has appointed Malaysian entrepreneur and Fave co-founder Joel Neoh as managing director for Southeast Asia and Oceania, Marketing-Interactive reported. Neoh joined the gaming platform in October 2026 and will lead its regional strategy, working with local teams and partners to adapt Roblox’s global business priorities to individual markets. His responsibilities include supporting local developers and creators, helping studios grow commercially and strengthening relationships with players, parents and business partners. Building Roblox’s regional creator ecosystem Neoh told Marketing-Interactive that his immediate priority is to “listen, learn and build relationships” with creators, developers, policymakers, educators, brands and industry partners. He returned…
Author: Fintech News Malaysia
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CIMB Islamic has contributed approximately RM700,000 to help nearly 2,000 underprivileged students prepare for their SPM examinations. The bank partnered with Yayasan Pendidikan Pelajar Melayu (YPPM) to run Program Pusat Tuisyen MADANI across 50 schools in Peninsular Malaysia. The programme ran from March to October 2026, offering twice-monthly tuition in Bahasa Melayu, Sejarah and Mathematics. Around 150 teachers participated, while funding also covered learning materials, meals and improvements to learning facilities. CIMB Islamic reported higher overall pass rates in students’ SPM trial examinations. The number of students achieving Grade A in the three subjects doubled, while fewer received lower grades.…
The Securities Commission Malaysia (SC) has visited Zetrix AI’s headquarters in Petaling Jaya in connection with an investigation involving the company. The Edge Malaysia reported the visit on 28 October, citing sources familiar with the matter. Zetrix AI, formerly known as MyEG Services Bhd, collects payments for Malaysian government agencies and operates the Zetrix blockchain platform. In February, the company secured US$40 million from the International Finance Corporation to expand its digital identity and blockchain infrastructure. JPJ suspension and police investigation Zetrix AI has faced several setbacks since late August. In early October, the government suspended the company’s status as…
Bank Negara Malaysia (BNM) has fined AmBank (M) Berhad and AmBank Islamic Berhad RM276,000 each for failing to submit cash threshold reports (CTRs) on time. BNM said the breaches resulted from technology implementation lapses caused by inadequate oversight of system changes. The central bank imposed the penalties on 10 September 2026, and both banks paid them on 22 September. BNM also announced a RM113,100 penalty against TML Remittance Center Sdn. Bhd. for failing to conduct customer due diligence (CDD). AmBank identified breaches through internal review Reporting institutions in Malaysia must submit CTRs to BNM within five working days of a…
He sold UnionPay to Fifth Avenue jewellers with a crystal logo. Now Jia Hang is betting stablecoins will make payment equal settlement. Jia Hang is Executive Chairman of DCS Group, the Singapore company that started life as Diners Club Singapore in 1973. He has spent more than two decades in payments, starting at the People’s Bank of China in Shenzhen, where he wrote the rules for auditing banks’ computer systems. He went on to build UnionPay’s business across the Americas and helped shape Ant Group’s international strategy, including its partner wallets in Southeast Asia. In this episode of Fintech Fireside…
Malaysia has barred a Penang petrol station from selling subsidised fuel and withheld over RM270,000 in payments following suspected misuse of BUDI MADANI. The Ministry of Finance (MOF) took action after receiving complaints from recipients who discovered their MyKad details had been used without their knowledge to purchase subsidised petrol. All complainants have lodged police reports. MOF reviewed the station’s transaction records and found more than 1,000 transactions processed using a manual bypass method. These transactions involved over 100,000 litres of petrol, with government subsidies exceeding RM270,000. The station in Nibong Tebal is prohibited from selling subsidised RON95 petrol and…
Malaysia is moving to sue Zetrix AI and its subsidiary MyEG over RM314 million in government revenue collected through Road Transport Department (JPJ) services. Transport Minister Anthony Loke confirmed that the government was pursuing civil action against both companies, Bernama reported. JPJ suspended their collection services on 5 October after they failed to transfer revenue collected between 19 May and 30 September. Loke previously disclosed that authorities had issued 35 reminders and held several discussions with the companies over the unpaid collections. Zetrix AI subsequently proposed a settlement to resolve the arrears and restore its services, subject to government approval.…
Maybank customers can now use their MAE app for QR payments in China, Hong Kong, South Korea, the Philippines and Laos. The expansion follows Maybank’s integration with Alipay+ and forms part of PayNet’s broader cross-border DuitNow QR expansion, announced earlier today. Maybank’s Scan & Pay service was already available in Singapore, Thailand and Indonesia, bringing its total reach to eight overseas markets. Customers can pay at participating merchants without downloading another app or registering for an Alipay+ account. They can also view the amount in both the local currency and Malaysian ringgit before confirming payment. Maybank reported an almost 80…
Malaysians travelling to China, Hong Kong, South Korea, the Philippines and Laos can now pay at participating merchants using DuitNow QR. Payments Network Malaysia (PayNet) has launched the service through Alipay+, Ant International’s unified wallet gateway. Maybank, CIMB and Hong Leong Bank are the first three banks to support the service, with Bank Islam expected to join soon. Customers can scan a merchant’s QR code displaying the Alipay+ logo using the DuitNow QR function in their banking app. They can then review and confirm the payment without downloading another app or creating an Alipay+ account. The launch builds on an…
Maybank Islamic and Credit Guarantee Corporation Malaysia (CGC) want to help smaller suppliers get paid faster through a new supply chain financing scheme. The scheme is Malaysia’s first supply chain financing guarantee scheme anchored by mid-tier companies, a role traditionally held by large corporations. It allows suppliers, mainly micro, small and medium enterprises (MSMEs), to receive early payments against approved invoices. Maybank Islamic will provide Shariah-compliant financing, while CGC will offer guarantee support to eligible mid-tier companies through its BizJamin-i Mid-Tier Companies scheme. Guarantee fees apply only when the facility is used, while financing requests and disbursements are handled digitally.…
Bank Negara Malaysia (BNM) wants the Islamic finance industry to move beyond pilot projects and bring innovations such as tokenised sukuk into wider use. Assistant Governor Mohamad Ali Iqbal made the call at the Islamic Financial Market Committee (IFMC) Roundtable 2026 on 19 October. He highlighted Malaysia’s first tokenised sukuk and a pilot involving the settlement of tokenised sukuk using tokenised deposits. The country has also introduced the world’s first blue sukuk to finance domestic water infrastructure projects. BNM also recently launched SSDS+, a platform for issuing, recording and safeguarding tokenised bonds and sukuk. Mohamad Ali urged the industry to…
Malaysia’s STR and SARA aid should offer temporary relief rather than become a long-term financial lifeline, economists say. The government should focus on raising household incomes and improving living standards, according to economists interviewed by Bernama. Their comments come as Malaysia increases its combined STR and SARA allocation to RM16 billion under Budget 2027, up from RM15 billion in 2026. Bank Muamalat chief economist Mohd Afzanizam Abdul Rashid said education, healthcare and skills training could help families improve their economic circumstances. He cautioned that excessive reliance on aid could weaken efforts to improve social mobility and potentially deepen inequality. Mohd…
The digital platforms banks use to trade currencies and manage short-term funding will operate under updated rules from Bank Negara Malaysia (BNM). The revised Framework for Electronic Trading Platforms takes effect on 1 November 2026 and covers Malaysia’s wholesale money and foreign exchange markets. BNM Requires Separate Approvals for Each Platform Operators must obtain BNM’s written approval for each trading platform they offer. Approvals cannot be transferred to affiliated companies and are generally valid for five years, unless BNM specifies otherwise. Renewal applications must be submitted at least 90 days before expiry. Applicants must provide business, financial and technology details…
Moomoo Malaysia has opened its fourth physical store in the country at Queensbay Mall in Penang. The outlet is the brokerage’s first in Northern Malaysia. It gives local investors a place to explore Moomoo’s investing tools, learn about financial markets and receive in-person guidance. The store sits on the ground floor of the mall (Lot 132-135) and opened on 23 October. It takes Moomoo’s physical footprint beyond the Klang Valley, where the company launched its first experience store. Moomoo previewed the Penang location at MooFest 2026 earlier this month, when it said its app had passed three million downloads in…
Persons with disabilities in Malaysia can now explore insurance and takaful options through Bank Negara Malaysia’s (BNM) new MyCoverageOKU platform. The microsite brings together information on relevant products, allowing persons with disabilities (PWDs), their families and caregivers to review available coverage and contact providers. Developed through a collaboration between BNM, the Financial Education Network (FEN) and the insurance and takaful industry, MyCoverageOKU serves as a central reference point for users. Eligibility and benefits remain subject to each product’s terms and conditions. BNM Governor Dato’ Sri Abdul Rasheed Ghaffour launched the initiative at the Selangor Financial Literacy Carnival 2026 in Shah…
The conventional expectation is that uncertainty drives a flight to familiarity. The Malaysia SME Business Outlook 2026, a study commissioned by Airwallex, suggests otherwise: more Malaysian SMEs say uncertainty is pushing them towards digital and fintech platforms than back towards traditional banking. When asked how the economic environment is shaping their approach to cash flow, payments and savings, 42% of respondents said it was moving them more aggressively towards digital and fintech platforms. Just 33% said it was moving them towards traditional banking services, and 17% reported no impact on strategy at all. The research drew on over 400 SME…
Maybank customers can now buy TravelPro Insurance and Takaful through the MAE app and Maybank2u website. The new plans cover medical emergencies, accidents and travel disruptions, adding to the bank’s existing TripCare360 offerings. The products are underwritten by Etiqa General Insurance and Etiqa General Takaful respectively. TravelPro offers cashless hospitalisation at participating overseas hospitals, with reimbursement of up to RM1.5 million for outpatient treatment and follow-up care after returning home. Customers can also claim for lost, stolen or damaged baggage, as well as baggage delays of six hours or more. Coverage extends to travel documents and personal money. The plans…
SoftBank founder Masayoshi Son has identified locations in Malaysia for a proposed US$50 billion investment in AI, emerging technologies and data centres, according to Prime Minister Datuk Seri Anwar Ibrahim. Anwar described the proposal as potentially one of the region’s largest investments, as reported by Bloomberg. Speaking in Melaka on Saturday (24 October), Anwar said Son had identified Kuching in Sarawak and locations in Peninsular Malaysia during a videoconference the previous week. “In what areas? AI, new technology and data centres,” Anwar said. The investment would expand SoftBank’s presence in Southeast Asia, where countries are attracting growing interest in AI…
Hong Leong Investment Bank (HLIB) has named Datuk Muhamad Umar Swift as its next group Managing Director and CEO. Umar Swift, a former CEO of Bursa Malaysia, will take over on 1 January 2027 from Lee Jim Leng, who is retiring after more than 17 years with the group. HLIB’s parent company, Hong Leong Capital Berhad (HLCB), announced the change and said the appointment is part of the bank’s succession plan. Lee has served as HLIB’s group managing director and CEO since 2009. According to HLCB, the bank strengthened its position in capital markets, brokerage and advisory services during her…
Innov8tif’s eKYC platform can now use MyDigital ID to verify customer identities, helping Malaysian businesses tackle identity fraud. This adds national identity validation to the company’s existing document authentication and facial biometric checks during remote onboarding. The solution aims to help businesses detect threats such as AI-generated deepfakes, synthetic identities, virtual camera injection attacks and presentation spoofing. The EMAS eKYC platform covers all MyKad holders aged 12 and above, including those using the New Generation MyKad. Customers can complete the process without installing the MyDigital ID mobile app. Banks, fintechs, insurers and telecommunications providers can use the service to strengthen…