Author: Fintech News Malaysia

French hardware wallet maker Ledger is investigating reported crypto thefts linked to Malaysian reseller CryptoBilis, with an independent researcher estimating suspected losses at over US$86 million. According to The Block, on-chain investigator Specter estimated the losses after tracing funds sent to suspected theft addresses across Bitcoin, Ethereum and Tron. Ledger has yet to confirm the amount stolen or the total number of affected customers. The French company manufactures hardware wallets that store the private keys needed to access cryptocurrencies offline. CryptoBilis, headquartered in Petaling Jaya, Selangor, is listed as an authorised Ledger reseller in Malaysia, Indonesia and the Philippines. Ledger…

Maybank Islamic has opened applications for its Nadi Mastercard Credit Card-i, offering a fixed 14 percent annual profit rate and no annual fee. The card comes amid a broader push in Malaysia to introduce basic credit cards with annual financing rates capped at 14 percent, compared with the existing industry ceiling of 18 percent. First announced in July 2026, the Shariah-compliant card became available for applications in October. The fixed rate also applies to cash advances, while profit charges are calculated only on the outstanding principal without compounding. Cardholders can apply for a one-time conversion of eligible outstanding balances from…

Malaysia plans to position Penang as its national technology finance centre under Budget 2027. Prime Minister and Finance Minister Anwar Ibrahim announced the move during his budget speech. As part of the initiative, Khazanah Nasional and InvestPenang will establish a RM100 million Strategic Investment Fund to support semiconductor and advanced manufacturing companies in their early stages of growth. The announcement places Penang’s technology sector at the centre of the government’s plans to expand financing support for high-tech industries. The government has not provided further details on the fund’s launch date, eligibility requirements or investment structure. Featured image: Edited…

Bank Negara Malaysia (BNM) is adding RM5 billion to its SME relief financing facility under Budget 2027. The top-up doubles the SME Stabilisation Relief Facility (SME SRF) to RM10 billion and sits within a wider set of BNM Budget 2027 measures covering SME financing, credit cards and medical insurance. The central bank expects the extra allocation to give around 9,000 more SMEs, including microenterprises, access to affordable working capital. It said the funds will help businesses manage temporary cash-flow pressures arising from the economic impact of the ongoing Middle East conflict. BNM said RM3.8 billion in financing under the original…

Malaysia will raise the bankruptcy threshold from RM100,000 to RM150,000 starting in 2027. Prime Minister and Finance Minister Anwar Ibrahim announced the change during the tabling of Budget 2027 on 9 October. The higher threshold will increase the minimum debt amount required for creditors to initiate bankruptcy proceedings against an individual. However, the change does not cancel existing debts or prevent creditors from pursuing other debt recovery measures. More Malaysians to Qualify for Bankruptcy Discharge The government will also expand its Second Chance Policy to help more people obtain a discharge from bankruptcy. The expanded policy will extend support to…

Malaysia will launch the MediAsas health insurance plan in January 2027. Prime Minister and Finance Minister Anwar Ibrahim announced the plan as he tabled Budget 2027 on 9 October. He said the plan will come at an affordable price. However, the speech did not disclose premium rates. Under MediAsas, hospital payments will follow the type of diagnosis and treatment a patient receives. The Prime Minister said the aim is to bring costs under better control and make them easier to predict. Employees Provident Fund (EPF) members under the age of 55 can also choose to pay their MediAsas premiums through…

The Malaysian government and Grab will jointly fund a RM160 million package covering income support, insurance and social security contributions for gig workers. Prime Minister and Finance Minister Anwar Ibrahim announced the initiative during the tabling of Budget 2027 on 9 October. Starting in 2027, the package will provide higher minimum income rates for e-hailing drivers and p-hailing delivery workers, along with assistance for vehicle maintenance, insurance and contributions to PERKESO. The government expects monthly net income for e-hailing drivers at the median level to increase by up to RM227, while p-hailing delivery workers could see increases of up to…

Malaysia will raise total loan facilities and financing guarantees to RM57 billion in 2027, up from RM50 billion this year. Prime Minister and Finance Minister Anwar Ibrahim announced the increase when he tabled Budget 2027 in the Dewan Rakyat on 9 October 2026. The Budget 2027 SME financing measures come with a separate increase in microfinancing to RM6.6 billion, channelled through Amanah Ikhtiar Malaysia (AIM), TEKUN Nasional and Bank Simpanan Nasional (BSN). Anwar said micro, small, and medium enterprises (MSMEs) make up almost all businesses in Malaysia. They contribute about 40% of the economy and employ around 8 million people,…

The National Scam Response Centre (NSRC) will develop an AI application that allows the public to check suspicious phone numbers, bank accounts and links before making financial transactions. Prime Minister and Finance Minister Anwar Ibrahim announced the initiative while tabling Budget 2027 in the Dewan Rakyat on 9 October. The application forms part of efforts to detect scammers and cybercriminals earlier. However, the budget speech did not specify a funding allocation, launch date or technical details for the application. Anwar also said the Malaysian Communications and Multimedia Commission (MCMC) has blocked more than 5.7 billion scam-related calls and SMS messages.…

Malaysia has allocated RM270 million under Budget 2027 to attract private investment through P2P financing and equity crowdfunding (ECF) platforms. Prime Minister and Finance Minister Anwar Ibrahim announced the allocation while tabling the budget in the Dewan Rakyat on 9 October. The funding aims to support SMEs, mid-tier companies and social enterprises. However, the budget speech did not specify how the funds would be distributed or which agency would oversee the allocation. The government also announced tax measures to support alternative financing platforms. Loan agreements executed through P2P financing platforms will be subject to a fixed stamp duty of RM10…

Alliance Bank, Maybank and CIMB have started offering basic credit cards with financing rates capped at 14% a year, Prime Minister Anwar Ibrahim said when he tabled Budget 2027 in the Dewan Rakyat on 9 October. Anwar, who is also Finance Minister, thanked the three banks for offering the cards. They are part of a push for cheaper credit that the Ministry of Finance (MOF) first announced in July with Bank Negara Malaysia (BNM) and the banking industry. 14% Instead of 18% Under the MOF framework, basic credit cards charge no more than 14% a year on outstanding balances, compared…

Malaysia plans to open a new avenue for retail investors to buy government sukuk through a blockchain-based initiative. Prime Minister and Finance Minister Anwar Ibrahim announced the tokenised retail savings sukuk initiative during the tabling of Budget 2027 on 9 October. Under the proposed scheme, investors will be able to choose whether their funds support education, healthcare or social protection for low-income groups. The announcement follows earlier efforts to introduce tokenisation into Malaysia’s sukuk market. In April, Khazanah Nasional priced a RM100 million tokenised sukuk in collaboration with the Securities Commission Malaysia, in a pilot involving institutional investors. The transaction…

The Securities Commission Malaysia (SC) returned RM1.98 million to 239 investors in 2025 through enforcement action against capital market offences. The SC has allocated a further RM8.6 million for restitution involving 933 investors, Second Finance Minister Datuk Seri Amir Hamzah Azizan told the Dewan Rakyat on 8 October, as reported by Bernama. Amir Hamzah said the figures reflect the regulator’s efforts to protect investors and maintain the integrity of Malaysia’s capital market. SC enforcement record for 2025 The SC secured nine criminal convictions in 2025, with courts imposing fines totalling RM13.1 million. Civil enforcement actions resulted in court orders for…

Bank Simpanan Nasional (BSN) has named Dato’ Sri Dr. Zukri Samat as its new Chairman, effective 12 October 2026. Zukri brings experience in banking, Islamic banking, asset management and public institutions. He most recently served as Chairman of Perbadanan Insurans Deposit Malaysia (PIDM), Malaysia’s deposit insurance agency, from November 2023 to October 2025. His previous roles include Group Managing Director and Chief Executive Officer of Lembaga Tabung Haji and Managing Director of Bank Islam Malaysia Berhad. He was also Managing Director of Pengurusan Danaharta Nasional Berhad, where he was involved in financial restructuring and recovery efforts during the Asian Financial…

Malaysians can now access more than 16,000 Coursera courses for free through the government’s Rakyat Digital initiative. The Global Learning Pass provides three months of access to courses covering artificial intelligence (AI), data science, cloud computing, business and other professional skills. The programme is led by the Ministry of Digital through MyDIGITAL Corporation and has been available since 16 September. A total of 100,000 licences will be distributed in four phases, with 25,000 allocated to each cohort. Malaysian citizens must register through the Rakyat Digital portal using MyDigital ID to qualify for the free Coursera courses. Learners must activate their…

SoftBank Group, Grab and Petroleum Sarawak Berhad (PETROS) have signed a framework agreement to explore the development of an AI and digital infrastructure platform in Sarawak. The three parties will collaborate on a roadmap for the platform’s phased development, with PETROS contributing expertise in energy supply solutions and supporting infrastructure. Beyond the proposed platform, the collaboration will explore opportunities across the broader AI value chain, including AI computing and services, advanced technologies, robotics, and local workforce and community development. What each partner brings SoftBank will contribute its global technology and AI ecosystem, drawing on its expertise in AI infrastructure, advanced…

Zetrix AI has confirmed that it owes Malaysia’s Road Transport Department (JPJ) RM314 million in collections that were not remitted from May to September 2026. The company disclosed that discussions with JPJ on a proposed solution framework are ongoing. It cannot yet determine when the issue will be resolved. Zetrix AI is the listed parent company formerly known as MY E.G. Services Berhad, which changed its name in 2025. JPJ suspended the group’s collection services from 5 October, affecting services such as road tax and driving licence renewals as well as summons payments. Transport Minister Anthony Loke had attributed the…

Tune Protect, through its reinsurance arm Tune Protect Re, is expanding its embedded travel insurance partnership with online booking platform Airpaz to Indonesia, Thailand and the Philippines. Following a rollout in Malaysia last year, the expansion forms part of the group’s broader strategy to strengthen its presence in Southeast Asia’s digital travel sector. Customers can purchase travel insurance while booking flights on the Airpaz website or mobile application. Policies are issued instantly, with digital access to coverage details and claims support channels. Tune Protect Re is supporting the regional expansion through local insurance partnerships. These include Oona Insurance Indonesia, Krungthai…

OCBC has partnered with Ant International to launch a tokenised deposit solution for corporate treasury management and liquidity transfers between Singapore and Malaysia. The service allows the fintech company to move Singapore and US dollar liquidity across borders outside traditional banking hours. Tokenised deposits function as digital representations of commercial bank deposits on a distributed ledger. Using blockchain technology, these transfers create an immutable audit trail that reduces manual reconciliation and improves operational efficiency for corporate treasurers. The solution is powered by Ant International’s WhaleRTP platform, which connects blockchain assets from various financial institutions. This setup allows the company to…

ShopeePay has expanded its digital insurance offerings in Malaysia through a new partnership with Zurich Life Insurance Malaysia. The e-wallet provider has launched the Zurich Savings & Protection Plan, a two-year endowment product. It combines life protection with guaranteed cash payouts and principal protection. The plan currently requires a minimum single premium of RM500. ShopeePay and Zurich plan to lower the entry amount to RM100. Policyholders receive guaranteed cash payouts every six months. The plan also provides life and disability protection equivalent to 105% of the premium paid. Users will also receive 100% of their principal at the end of…