Posts From Fintech News Malaysia

MIDF’s New Digital Investment Platform Allows Malaysians to Invest in US Stocks and ETFs

MIDF Amanah Investment Bank, a subsidiary of Malaysian Industrial Development Finance (MIDF), unveiled its online investment platform MIDF Invest which allows Malaysians to invest in stocks and ETFs listed on the New York Stock Exchange (NYSE) and Nasdaq. The MIDF

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ANGKASA Joins Digital Banking Bid With Boustead to Serve 7 Million Cooperative Members

Angkatan Koperasi Kebangsaan Malaysia Berhad’s (ANGKASA) subsdiary MyAngkasa Digital Services, Boustead Holdings Berhad, and another party that they described as ” one of the world’s largest independent insurance brokerage company ” to apply for an Islamic digital banking license from

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Presto’s Parent Firm PUC Bids for Digital Banking License with 2 State Governments

E-commerce platform PUC announced that it has formed a consortium with two unnamed state governments and a conglomerate to submit an application for a digital bank license to Bank Negara Malaysia (BNM). The consortium is led by PUC, making it

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BigPay Enters into Digital Banking Bid with MIDF and Ikhlas Capital

BigPay has officially submitted its application for a digital banking licence to Bank Negara Malaysia. BigPay’s consortium include Malaysian Industrial Development Finance Berhad (MIDF), Ikhlas Capital and a foreign conglomerate with fintech expertise. They said in a statement that each

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Split Emerges as First Malaysian Shariah-Compliant Buy Now, Pay Later Operator

Buy Now, Pay Later (BNPL) platform Split announced that its services has been reviewed and certified as a Shariah-compliant by the Masyref Advisory, a local advisory firm devoted to Islamic banking and finance. Split said that it is the first

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Axiata’s Digital Bank Consortium Inks Deal With Credit Guarantee Corp

Axiata Digital, through its subsidiary Aspirasi, will be collaborating with the Credit Guarantee Corporation Malaysia (CGC) for a potential digital bank guarantee. The Memorandum of Understanding (MoU) aims to accelerate financial inclusion for the underserved and unserved segments. Aspirasi provides

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Bank Negara Malaysia Lays Out Its Vision for Digital Banks As Deadline Looms

On 31st December 2020, Bank Negara Malaysia (BNM) unveiled its digital banking guidelines which almost immediately garnered interest from 40 parties. In this new guideline, the central bank will be issuing up to 5 digital bank licenses in 2022, with

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Innov8tif’s eKYC Solution Granted Patent to Verify Malaysian IC Microprints

The Intellectual Property Corporation of Malaysia (MyIPO) has granted Innov8tif Solutions a patent for its method of verifying the authenticity of a Malaysian identity document using a computer vision algorithm known as microprint detection technique. Microprint is a security feature

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E-Wallet Boost Launches Three More Insurance and Takaful Plans

Axiata Digital’s e-wallet Boost has introduced three new micro-insurance and takaful plans under ‘Boost Protect’ to further provide Malaysians with affordable and premium coverage. The addition of MozzieProtect, FamilyProtect and Critical Illness Care bring the total coverage plans to 13.

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BNM to Prioritise Pilot Projects for Digital Currencies in 2021-2022

Malaysia’s central bank will be running a proof-of-concept (PoC) project to gauge the merits of a central bank digital currency (CBDC) with an initial focus on wholesale CBDCs, Suhaimi Ali, Director of Financial Development and Innovation at Bank Negara Malaysia

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