Author: Fintech News Malaysia

Malaysian entrepreneur Arsyan Ismail has sold the domain AI.com for US$70 million, approximately RM276 million, in a transaction paid entirely in cryptocurrency. The sale represents the highest disclosed price for a domain name to date, surpassing the US$49.7 million paid for CarInsurance.com in 2010. Kris Marszalek, the CEO of Crypto.com, acquired the domain in April 2025 through broker Larry Fischer. Marszalek plans to launch a consumer artificial intelligence platform under the AI.com brand, which is expected to debut during a Super Bowl LX commercial this weekend. The new site will feature personal AI agents designed to help users perform tasks…

Bank Negara Malaysia (BNM) has received approximately 30 to 35 applications regarding stablecoin and digital asset innovations. BNM Governor Datuk Seri Abdul Rasheed Ghaffour stated that several projects, including ringgit-based stablecoin initiatives, are currently undergoing testing within regulatory sandbox arrangements. These tests occur under BNM’s Digital Asset Innovation Hub, a platform providing industry players with the regulatory flexibility needed to trial financial solutions. Speaking at the Forum Ekonomi Malaysia 2026, Abdul Rasheed emphasised that stablecoins and digital assets will likely remain permanent fixtures of the financial ecosystem. “In terms of stablecoins, of course, this is something that we see movements…

Bank Islam Malaysia Berhad has announced the appointment of YM Raja Datin Paduka Teh Maimunah Raja Abdul Aziz as its new Group Chief Executive Officer, effective 1 April 2026. She replaces Dato’ Mohd Muazzam Mohamed, who retired in December 2025 after a decade with the Group. Raja Teh Maimunah brings 30 years of experience in the financial sector to the role. She previously left her role as the founding CEO of AEON Bank (M) Bhd, where she oversaw the launch of the first Islamic digital bank in Malaysia. Raja Teh Maimunah previously held high-level positions at several major financial institutions,…

Malaysia is developing a new insurance scheme to provide social security protection for citizens working in Singapore. Human Resources Minister Datuk Seri R. Ramanan stated that the initiative aims to cover approximately 400,000 Malaysians who commute daily from Johor. The scheme specifically addresses the lack of coverage during the period when workers travel between their workplace and home. “Workers should not be victimised simply because they are working in Singapore,” Ramanan noted. He emphasised that Malaysian citizens deserve consistent standards of safety and care, regardless of where they work. This project has been a primary focus for the minister since…

microLEAP is increasing awareness of SARANA, a scheme designed to support local contractors and SMEs. SARANA assists businesses executing Federal Government projects awarded through the e-Perolehan system by providing essential working capital. In 2025, microLEAP disbursed RM295 million across 341 Investment Notes, representing a year-on-year growth of over 135%. The platform has now financed a total of RM545 million since its inception while maintaining a default rate of 0.30%. These figures suggest a maturing reception for P2P financing within the Malaysian market. SARANA addresses structural gaps where contractors often face cash flow challenges during mobilisation and procurement. Unlike traditional banking…

Tenaga Nasional Berhad (TNB) reported losses of nearly RM30 million during 2025 due to electricity theft linked to illegal Bitcoin mining in Melaka. The State Deputy Exco for Science, Technology, Innovation and Digital Communications, Datuk Mohd Noor Helmy Abdul Halem, confirmed that the total loss of RM29.63 million represents a substantial increase from 2024. Recorded losses reached RM10.46 million in 2024, showing that the figure climbed by RM19.17 million within a year. The frequency of these illegal activities has grown significantly. Authorities detected 85 cases in 2025, which is a sharp rise from the 30 cases reported in 2024. Datuk…

Agrobank has emerged as the latest Malaysian bank hit by online fraud with losses topping RM200 million. The case was disclosed in a parliamentary reply by Home Minister Saifuddin Nasution Ismail, The Edge reported. Saifuddin said the fraud, detected in November last year, resulted in losses of RM203.8 million. Police arrested 47 individuals in connection with the case, with three charged under Section 424C(1) of the Penal Code for offences involving mule accounts. Investigations into the remaining suspects are ongoing. He said the police are finalising investigation papers with assistance from CyberSecurity Malaysia and Bank Negara Malaysia, adding that no…

Lim Guan Eng questioned SME Bank’s capacity to manage Chinese MSME loans and called for Bank Simpanan Nasional (BSN) to take over the programme in a statement on Facebook. The DAP Bagan MP said SME Bank lacks the scale and branch reach needed to effectively serve Malaysia’s 1.1 million MSMEs, particularly those outside major urban centres. He added that businesses in states such as Perlis and Kelantan, as well as Sabah and Sarawak, could face difficulties accessing financing under the current setup. Lim noted that SME Bank’s website lists 27 branches nationwide, but only 17 are distinct physical locations, including…

Payments Network Malaysia Sdn Bhd (PayNet) has announced that Praveen Rajan officially assumed the role of Chief Executive Officer on 1 February 2026. This appointment follows a planned leadership transition first announced in September 2025. Rajan joined the national payments provider as CEO-Designate in December 2025, working alongside his predecessor to ensure an orderly handover. He brings over 20 years of experience from the telecommunications and digital sectors, having most recently served as the Chief Consumer Business Officer at CelcomDigi Berhad. His background includes significant work in digital transformation, regulated markets, and operational resilience. Under the new leadership, PayNet’s strategic…

AEON Bank confirmed that Raja Teh Maimunah will step down as CEO on 31 March 2026 after overseeing its launch as Malaysia’s first digital Islamic bank. Raja Teh joined the bank three years ago and led its establishment as a digital lender. During her tenure, AEON Bank completed the build of its cloud-native core banking infrastructure and secured regulatory approvals for its public launch. Raja Teh said, “It has been a profound honour and a once-in-a-lifetime privilege to lead AEON Bank from its very beginning. We have made history together by establishing the nation’s first digital Islamic bank. I am…

Gaming isn’t just a hobby; it’s a global infrastructure challenge. In this episode Vincent Fong (Chief Editor, Fintech News Network) explores the intersection of gaming and fintech with Livia Ang (Global Business Director, NetEase Games) and Juan Pablo Ortega (CEO & Co-Founder, Yuno). We discuss how NetEase Games, the powerhouse behind global hits like Marvel Rivals, Eggy Party, and LifeAfter navigates the complexities of international expansion where “standard” payment stacks are no longer enough. Key Discussion Points: The Fragmentation Crisis: Managing 450+ providers through a single API. The D2C Economic Trap: Why saving 30% on app store fees is a…

Bank Negara Malaysia (BNM) has appointed Dato’ Zabariah Mohd Yusof to its Shariah Advisory Council for a two-year term starting 1 February 2026. She is a former Federal Court judge. With the appointment, the council now has nine members with experience in Shariah, Islamic finance, accounting, audit and law. The council is chaired by Dato’ Prof. Dr. Ashraf Md Hashim, with Prof. Dr. Engku Rabiah Adawiah Engku Ali as Deputy Chair. Other members include Burhanuddin Lukman, Sahibus Samahah Dato’ Setia Dr. Haji Anhar Haji Opir, Dr. Marjan Muhammad, Dr. Ahmad Basri Ibrahim, Prof. Dr. Amir Shaharuddin and Dr. Abdul Rahim…

Suzaini Mukhtar has taken on the CEO role at KAF Digital Bank after announcing the move on LinkedIn. He had been serving as Acting CEO since December 2025, following Rafiza Ghazali’s decision to step down. Rafiza officially concluded her employment with the bank on 31 January 2026 and has since joined Fasset as Managing Director for Consumer Banking. She had led KAF Digital Bank since June 2022 and played a key role in steering the lender through its regulatory approval and market entry phases. The bank opened to the Malaysian public in August 2025 after receiving approval from Bank Negara…

You may be most familiar with their ATMs across international airports but Euronet is much more. They move US$ 200 Billion anually and provide connectivity for over 4 billion bank accounts around the world. In this episode, Fintech News Network Chief Editor Vincent Fong sits down with Himanshu, MD of APAC at Euronet, to uncover the massive infrastructure powering the region’s fintech revolution. From national payment switches to traditional and digital banks, Euronet provides the plumbing that enables seamless transfers both domestically and cross-border. We dive deep into Euronet’s US$249M acquisition of CoreCard the engine behind the Apple Card’s seamless…

NTT DATA has signed a multi-year agreement with Amazon Web Services (AWS) as enterprises accelerate cloud migration and AI deployment. The partnership combines NTT DATA’s cloud and AI capabilities with AWS infrastructure to modernise mission-critical workloads. It also supports the rollout of AI-driven and agentic solutions across regulated and high-growth sectors, including financial services, healthcare, life sciences, the public sector, manufacturing, retail and energy. Abhijit Dubey, President and CEO of NTT DATA, said, “Through our strategic collaboration agreement with AWS, we are helping clients move beyond experimentation to scale AI impactfully and responsibly. This collaboration underscores our commitment to deliver…

Bank Negara Malaysia (BNM) has issued financial penalties against four entities for failing to meet anti-money laundering and counter-financing of terrorism regulations. The sanctions amount to a combined total of RM1,074,625. MBSB Bank Berhad received the largest penalty, with a fine of RM560,000 for failing to submit a suspicious transaction report on unusually large cash withdrawals that met its internal red flag criteria. BNM said the lapse was due to inadequate staff awareness of STR requirements. Small Medium Enterprise Development Bank Malaysia Berhad (SME Bank) was penalised RM460,000 for not promptly submitting STRs on suspicious activities involving several customers, which…

Kenanga Investment Bank is adding insurance and takaful products to its advisory and digital platforms through a new collaboration with Zurich Malaysia. Under the partnership, Zurich Malaysia will distribute general insurance and takaful, as well as life insurance and family takaful products across Kenanga Group’s advisory-led and digital channels. Junior Cho said, “This partnership builds upon the longstanding relationship with Kenanga Group, reflecting our mutual focus on delivering more relevant and accessible protection solutions. Through this partnership, Zurich Malaysia is able to extend its commitment to Care For What Matters by supporting clients at every life stage with more connected…

Malaysian payment gateway Paydibs has announced a strategic partnership with global payment service provider AltPayNet to improve financial connectivity between Malaysia and the Philippines. The collaboration aims to facilitate seamless cross-border transactions, initially focusing on enabling Filipinos residing in Malaysia to pay their Social Security System (SSS) contributions directly through local channels. Under this agreement, AltPayNet will leverage Paydibs’ locally licensed payment infrastructure to route transactions securely. This integration forms a framework that expands access to financial services for the region. It allows overseas Filipinos to pay their social security obligations, akin to Malaysia’s EPF, using compliant and local payment…

AEON Bank has appointed Yew Jin Kang as Chief Technology Officer (CTO) as it continues to build out its core banking and digital platforms. Yew Jin joins the Islamic digital bank after serving as CTO at PLUS Malaysia, where he oversaw the technology systems supporting the country’s largest expressway operator. He previously held senior technology and leadership roles at organisations including Star Media Group, Hong Leong Bank, OCBC Bank, AmBank, IBM, MetLife and Accenture. In a LinkedIn post announcing his appointment, Yew Jin said he was returning to the banking sector after almost a decade. He was involved in early…

Razorpay Curlec has partnered with PayPal to help Malaysian SMEs accept international payments through a single platform, as more local businesses look to expand overseas. The integration allows merchants using Razorpay Curlec to accept cross-border payments via PayPal alongside local payment options already available on the platform. Since its beta launch in 2025, the integration has processed tens of thousands in gross merchandise value, reflecting early uptake among merchants seeking simpler cross-border payment options. The rollout comes as trade agreements are expected to support Malaysian businesses expanding into Western markets. This includes the United Kingdom’s entry into the Comprehensive and…