Author: Fintech News Malaysia

Bursa Malaysia Securities has fined KAF Investment Bank RM300,000 and issued a public reprimand over due diligence and disclosure lapses tied to an ACE Market listing submission. The action relates to KAF Investment Bank Berhad’s role as sponsor for an applicant seeking admission to the ACE Market. The exchange said the bank breached multiple ACE Market Listing Requirements by failing to make all reasonable due diligence enquiries and consider relevant matters involving non-compliances tied to the certificate of completion and compliance of the applicant’s two core manufacturing plants. It also found that the pre-admission consultation pack and draft prospectus submitted…

Banks in Malaysia will begin overhauling hire purchase financing from June 2026, as the industry moves to clearer loan pricing and fairer early settlement terms. The changes come under the Hire-Purchase (Amendment) Act 2026, which takes effect on 1 June 2026. In a joint statement, the Association of Banks in Malaysia, the Association of Islamic Banking and Financial Institutions Malaysia, and the Association of Development Finance Institutions Malaysia said the new framework will abolish the Rule of 78 method for early settlement and remove flat-rate pricing for fixed-rate hire purchase financing. Hire purchase financing will instead shift to a reducing…

The Malaysia Co-Investment Fund (MyCIF) has launched two new funding measures for MSMEs, targeting businesses linked to the ageing economy and deals led by venture capital and private equity firms. The measures include a Silver Economy Scheme covering care-tech, specialised healthcare and senior living, as well as a profit-sharing incentive to attract VC and PE-led deals to equity crowdfunding platforms. Under the incentive, MyCIF will share 50 percent of profits with VC and PE lead investors that deliver exits, giving crowd investors access to those deals. Gobi Partners and OSK Ventures International have expressed interest in bringing such deals to…

Bursa Malaysia has moved a step closer to digital currency ETF listings after launching a public consultation on proposed rule changes. The amendments would facilitate the listing and trading of these products on the local bourse. The move follows the Securities Commission Malaysia’s revised Guidelines on Exchange-Traded Funds, issued on 2 March 2026, which now permit digital currency ETFs under an enhanced regulatory framework. Digital currency ETFs are designed to give investors regulated and transparent exposure to digital currencies through an established capital market product. The proposed changes cover the Main Market Listing Requirements and Bursa Malaysia Securities’ directives, with…

Malaysia is weighing a plan to let EPF members use Account 2 savings to buy basic medical and health insurance or takaful products. Bernama reported that the proposal is being studied by the Ministry of Finance (MOF) through a written parliamentary reply. Under the proposal, any withdrawal would be voluntary and limited to savings meant for health and protection needs. MOF said Account 1, or Akaun Persaraan, would not be affected, framing the move as a way to widen access to protection without cutting into core retirement savings. The issue was raised by Senator Datuk Rosni Sohar, who asked about…

Homeowners installing rooftop solar through Verdant Solar will receive built-in protection under a new partnership with Tune Protect Malaysia. The offering combines Verdant Solar’s residential solar installation services with insurance from Tune Protect Malaysia under a single package. The companies said it is Malaysia’s first integrated residential solar and protection model. The package covers accidental loss or damage from events such as storms and fire, as well as lost electricity savings caused by downtime linked to insured damage. The companies said this is meant to reduce concerns over system damage, disruption and financial risk, while removing the need for homeowners…

The Securities Commission Malaysia and the Companies Commission of Malaysia have signed a two-year data-sharing deal to widen capital market access for MSMEs and mid-tier companies. The move will support capital market funding initiatives and strengthen supervisory functions. It is part of the Capital Market Masterplan 2026-2030 and aligns with the SC’s five-year roadmap to improve market access for MSMEs and mid-tier companies. Under the collaboration, the SC will use SSM’s corporate data to identify unlisted companies with strong growth potential and financing needs. It will then connect them with fundraising avenues such as Bursa Malaysia’s Main, ACE and LEAP…

Hong Leong Islamic Bank has rebranded as HLB Islamic as it seeks to grow its Shariah-compliant banking business and strengthen its role within the wider Hong Leong Financial Group ecosystem. Alongside the rebrand, the bank introduced Hayat @ HLB Islamic, a new proposition built around wealth stewardship. It is designed to support different stages of a customer’s financial journey rather than treat financial services as separate products and transactions. Hayat is built around a Shariah-guided wealth lifecycle approach covering wealth creation and accumulation, protection, purification and distribution. Kevin Lam, Group Managing Director & CEO of Hong Leong Bank, said, “By…

The Consumer Credit Commission (SKP) has named former Bank Negara Malaysia Assistant Governor Abu Hassan Alshari Yahaya its first Executive Chairman. The appointment follows the enforcement of the Consumer Credit Act 2025 on 1 March 2026 and marks the start of the commission’s operations as the body overseeing consumer credit providers in Malaysia. Abu Hassan previously led the Consumer Credit Oversight Board Task Force, which was set up in July 2021 to work with relevant ministries and agencies on drafting the Consumer Credit Bill. During his time at BNM, he led several functions including finance, currency management, strategic communications and…

Google will update its financial services verification process to introduce new requirements for certain financial services advertisers in Malaysia from 14 April 2026. The categories that may be subject to verification include banking, credit cards, credit and loans, investment, brokerages and day trading, bonds, commodities and futures trading, and insurance. Advertisers may initiate verification themselves, but those in financial services categories that are in scope for verification in Malaysia will be required to complete the process if requested by Google. The company said affected advertisers will be notified by email or through in-account alerts. Those that do not successfully complete…

Correction: An earlier version of this article, based on the original press materials provided, stated that Maybank was part of the collaboration. We have since received clarification that the pilot involved CIMB and RHB only. Mastercard has completed its first authenticated agentic transaction pilot in Malaysia with CIMB and RHB. The pilot tested how AI agents can carry out payments in a controlled environment with consumer consent, authentication and security safeguards in place. In the first use case, an AI agent booked a ride from Kuala Lumpur International Airport to KL Sentral through mobility provider hoppa. The transaction was facilitated by…

Malaysia aims to grow its capital market to as much as RM6.3 trillion by 2030 under a new five-year masterplan launched by the Securities Commission Malaysia. The plan is intended to help the market outpace national GDP growth through new listings, stronger capital mobilisation and other market development measures. Prime Minister and Finance Minister Dato’ Seri Anwar Ibrahim launched the Capital Market Masterplan 2026-2030. The plan is aligned with the MADANI Economy, the 13th Malaysia Plan, the New Industrial Master Plan 2030 and the National Energy Transition Roadmap. It also forms part of a broader 20-year vision for Malaysia’s capital…

AmMetLife Insurance announced that it has appointed Wan Saifulrizal Wan Ismail as its new CEO. He succeeds Rangam Bir, who has left the company to pursue other opportunities. Wan has nearly 30 years of experience in the insurance and takaful sectors. His career includes roles as a regulator, actuary and senior leader across insurance and takaful organisations. Wan has also served as Chairman of the Malaysian Takaful Association. Elena Butarova, MetLife’s Regional Head for Bangladesh, Malaysia, Nepal and Vietnam, said, “Wan brings a strong combination of actuarial insights, deep industry experience, and commercial leadership to AmMetLife, at a time when protection…

Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) has partnered with CIMB Islamic to introduce a RM500,000 reward pool aimed at improving loan repayment among Malaysian youth. The initiative forms part of the “Setel PTPTN dengan CIMB” campaign, which runs from 1 January to 31 December 2026. It links PTPTN loan repayments to CIMB Islamic’s Shariah-compliant Daily Unrestricted Investment Account-i, known as DURIAN-i, to encourage borrowers to build consistent repayment habits while starting to save. Borrowers who repay their PTPTN loans through the DURIAN-i account can accumulate points through eligible transactions and increase their chances of receiving rewards. Participants may also stand…

CIMB Bank Malaysia has denied claims circulating online that a dataset containing about 1.2 million customer records had been leaked. In a post on X, the bank said the claims were false and confirmed that there had been no data leak. CIMB added that its security teams had verified that all systems were secure. The statement followed an alert from cybersecurity monitoring platform VECERT, which alleged that a threat actor known as “datasource” had reported a breach involving CIMB Bank customer data. According to the post, the dataset allegedly contained about 1.2 million records, including names, bank account numbers, card…

Grab Malaysia will apply a single interest charge of 1.25% a month to all new PayLater instalment plans created from 9 March, according to a report by The Star. The updated rate will apply to newly set up instalment plans across 4, 8 and 12-month repayment options. Users with existing plans will not be affected and will continue under the rates that applied when the plans were created. Before this update, PayLater interest charges varied depending on the instalment length, merchant category and whether the transaction was made online or in-store. In some cases, four-month instalment plans were offered without…

Malaysia’s National Scam Response Centre (NSRC) is now operating 24 hours a day as authorities step up efforts to respond more quickly to online financial scams. The expanded operations were announced during the centre’s launch at Menara 2 of the Malaysian Communications and Multimedia Commission (MCMC) in Cyberjaya. According to a report by The Star, Home Minister Datuk Seri Saifuddin Nasution Ismail said faster reporting is crucial, urging victims to contact the NSRC through the 997 hotline so banks can intervene and stop suspicious transfers. Last year, the centre handled 146,167 complaint calls and authorities froze 138,915 accounts linked to…

Razorpay Curlec has integrated Apple Pay into its payment gateway, enabling Malaysian merchants to accept one-tap payments. The integration allows businesses to accept both local and international Apple Pay transactions across iPhone, iPad, Mac and Apple Watch. Payments can be completed using Face ID or Touch ID, removing the need for customers to manually enter card details during checkout. The service supports Visa and Mastercard cards stored in Apple Wallet and allows merchants connected to the Razorpay Curlec gateway to accept Apple Pay payments from customers worldwide. Kevin Lee, Country Head and CEO of Razorpay Curlec, said, “Within just a…

The Securities Commission Malaysia has appointed Kamal Azira Hassan and Adnan Zaylani Mohamad Zahid as Board Members for a two year term starting 15 February 2026. Appointed by the Minister of Finance, the SC Board oversees the commission’s governance and its regulatory and development mandates. Kamal Azira brings more than 25 years of experience in public and administrative law, government litigation and regulatory advisory. He has served in the Attorney General’s Chambers, the Prime Minister’s Department, State Legal Advisor Offices, statutory bodies and federal ministries, where he led litigation and specialised legal units. Adnan Zaylani is Deputy Governor of Bank…

Malaysia’s financial regulators are seeking industry feedback on a proposed taxonomy aimed at strengthening sustainable finance standards. Bank Negara Malaysia and the Securities Commission Malaysia are jointly developing the Malaysia Taxonomy for Sustainable Finance. It builds on earlier principle based frameworks, including the Climate Change and Principle-based Taxonomy and the Sustainable and Responsible Investments Taxonomy. Since 2021, Malaysia’s sustainable finance landscape has progressed, supported by clearer policies and stronger institutional readiness. As market participants advance their climate transition plans, regulators said there is growing demand for more detailed and science based screening criteria. Alignment with other sustainable finance taxonomies is…