Bank Negara Malaysia (BNM) has released a Discussion Paper on Asset Tokenisation in the Malaysian Financial Sector to gather industry feedback on how digital representations of real-world assets could transform financial services. The central bank defines tokenisation as the process of converting physical or traditional financial assets into digital tokens that can be issued, traded, and settled on programmable platforms. These tokens enable features such as atomic settlement, where transactions are completed instantly once conditions are met; composability, which allows seamless interaction between financial instruments; and programmability, which automates processes through smart contracts. BNM believes these features could deliver measurable…

Malaysia is gearing up for a stronger push against cybercrime with a wide range of new measures under the 2026 National Budget. Authorities are set to introduce a Cyber Crime Bill and commit RM32 million next year. The Malaysian government hopes that this measure could help to strengthen national security, modernise police capabilities, and build stronger defences against increasingly sophisticated scams. Rising scam cases and digital exploitation have pushed the government to act. Officials are signalling a more coordinated and technology-driven strategy to keep pace with fast-evolving online threats. A New Cyber Crime Bill and National Cybersecurity Hub At the…

Several media outlets have reported that Dubai-based fintech Fasset has obtained a banking license in Malaysia to operate the “World’s First Stablecoin-Based Digital Insurance Islamic Bank”. That claim, however, is inaccurate. Fasset’s approval was issued by the Labuan Financial Services Authority (Labuan FSA), which oversees the offshore jurisdiction of Labuan. It is a distinct regulatory regime from Malaysia’s onshore financial system under Bank Negara Malaysia. Fasset’s own press release, dated 7 October 2025, contributed to the confusion. The company claimed it had “secured approval from Malaysia to provide banking services” and described this as a licence that would allow it…

Malaysian borrowers know that we’ve been paying more than what we should have on our car loans. The system that determined interest payments was not only opaque, but it was structurally tilted to favour the hands of lenders. That imbalance has finally and thankfully been shifted. On 8 October 2025, the Dewan Rakyat passed the Malaysia Hire Purchase (Amendment) Bill 2025, marking the most significant overhaul of the Hire-Purchase Act 1967 in more than half a century. Rather than making minor adjustments, the legislation takes aim at the foundation of the old system. What replaces it is clearer, fairer and…

Bank Negara Malaysia has released an updated Policy Document on Personal Financing, setting out a new series of measures to promote more responsible borrowing and lending practices across the retail credit market. Published on 30 September 2025, the policy replaces the earlier document from December 2023 as well as the enhanced consumer safeguards letter issued in January 2025. The move underscores the regulator’s intent to keep pace with developments in the personal financing segment that could lead to unsustainable household debt. Among the most notable changes are clearer rules on loan tenure, a ban on outdated interest calculation methods, stronger…

The BUDI95 subsidy scheme is finally here, and Malaysians are getting ready to enjoy RON95 petrol at RM1.99 per litre. We’ve talked about what it is in our previous article regarding the step-by-step guide on using the subsidy with TnG E-Wallet. Now, for PETRONAS customers, the Setel app is one of the easiest ways to tap into the programme. It blends the usual benefits of cashless payments with the added bonus of skipping queues and tracking your monthly quota. Why Setel Works Well with BUDI95 What makes Setel appealing is how seamlessly it integrates with the pump. You can verify…

Payments used to be simple. You swiped, you paid, you walked away. Today, behind every transaction sits a silent army of algorithms making choices most of us never see. Kevin Lee, Country Head and CEO of Razorpay Curlec Malaysia, spends a lot of time thinking about those choices. Sitting at the crossroads of India’s highly advanced AI payments ecosystem and Malaysia’s more nascent but fast-evolving market, he has a front-row seat to how the region is being reshaped. From Kevin’s perspective, it isn’t whether AI will transform finance, but how to make sure trust doesn’t get lost in the process.…

If there is one thing that never fails to get Malaysians talking, it is the price of petrol.  The latest murmur is around Budi Madani RON95, or BUDI95, a targeted subsidy scheme that cuts the pump price of RON95 down to RM1.99 a litre, instead of the usual RM2.05. The savings are only half the story, though. The other half is about how easy it is to access. Hence, with an estimated 87% of the population using e-wallets by early 2025, it would be a no-brainer for TnG E-Wallet not to step in, trying to make the whole experience far…

Malaysian tolls. What a nightmare.   Just last week, I was on my way to an event, and I was caught in a 1-hour traffic jam, right after the infamous Sungai Besi toll.   And don’t get me started with tolls during school holidays. I don’t want to elaborate more on what happened yesterday at the Gombak toll. It just makes me want to puke reliving those “moments”.  If you have ever been stuck in a traffic jam, especially in the bustling city of Kuala Lumpur, you know the feeling.  Cars stretching as far as the eye can see, the…

It’s midnight at the time of writing, but I’m not burning the midnight oil by studying late. I came across a few X posts that kept me agitated this late at night. You see, I can’t sleep thinking about how personal details of millions of Malaysians could be available to anyone with a few clicks. Let me put it this way. If you had roughly around RM245 to spare, what would you do? I for sure would spend it on the latest Spider-Man 2 game on Steam. But did you know that the same amount of money could buy you…

Tunku Abdul Rahman once declared on the steps of Merdeka Stadium, ‘Merdeka!’ seven times. This upcoming Sunday, as Malaysia celebrates its 68th Independence Day, that same spirit of liberation is echoed in a very different arena. The liberation of finance from cash, paper, and legacy systems into the digital future. When Malaya gained independence in 1957, it was free politically, but financially, it was still tethered to the colonial world. The banking scene was dominated by foreign names such as Chartered Bank, Eastern Bank and Mercantile Bank, whose business was largely focused on financing tin exports and rubber plantations. For…

Forbes Asia has released its fifth annual 100 to Watch list, providing a window into the vibrant world of startups and small companies across the Asia-Pacific region.  This year’s compendium highlights a constantly evolving ecosystem with an increasing focus on AI and deep tech. The list reflects a positive uptick in venture capital funding in some countries, with India, Japan, and Singapore drawing more risk capital this year.  A total of 16 countries and territories are represented. India leads the pack with 18 companies, followed by Singapore and Japan with 14 each. The 100 companies featured have collectively drawn nearly…

“The future is already here, it’s just not evenly distributed.” The line from one of my favourite authors, William Gibson, has often been used to describe technology. And as of today, I feel like it is an apt description of Malaysia’s latest and freshest newcomer in the digital banking scene, who, finally, is preparing to go live next month. It has been a long road to get here. Once known as YTL-SEA Digital Bank, the project faced repeated delays, trailing behind GXBank, Boost Bank, AEON Bank and KAF Digital Bank in rolling out to the public. Earlier this year, it…

Kids these days are not like when we were little. At least for those of us who remember when a flip phone was a luxury. They are already tapping the screens of their phones, levelling up their money skills and securing the bag before they even master shoelaces. It is a glow-up in financial know-how that might leave older generations feeling a bit FOMO. For Malaysia’s youngest generation, piggy banks are becoming a relic of the past. Their wallets live on screens, payments happen in seconds, and some are exploring investments before they even finish school. These are the children…

For those who follow Malaysia’s economic trajectory, the ritual is a familiar one. Every five years, the government unveils a new national development plan, a sprawling document outlining the country’s ambitions for the half-decade to come. The Thirteenth Malaysia Plan (RMK13), setting the course for 2026-2030, is the latest chapter in this tradition. It’s a comprehensive blueprint covering everything from infrastructure to agriculture. But while the plan isn’t overtly framed as a fintech manifesto, its most critical, high-stakes components are the digital and financial reforms embedded deep within its pages. For the savvy observer, these elements are the real story.…

Every industry has its share of award shows, and fintech is no different. But every so often, one comes along that manages to feel grounded and relevant. It doesn’t chase headlines or reward the loudest voice in the room. Instead, it puts the spotlight on the people building quietly, often without the attention they deserve. That was the premise behind the Fintech Frontiers 50 Awards, held on 5 August 2025 at The Estate on Federal Hill in Kuala Lumpur. Timed to coincide with Malaysia’s MyFintech Week, the event drew founders, regulators, investors, and ecosystem builders from across the region. This…

Southeast Asia’s fintech sector has reached a crucial stage of maturity, and this year, it’s time to honour the people leading that progress. On 5 August 2025, many of the region’s most impactful fintech founders will gather at the Estate on Federal Hill, Kuala Lumpur, for the Fintech Frontiers 50 Awards. What is that, you ask? Well, it is going to be a night dedicated to celebrating the builders shaping the future of finance across ASEAN. More than just a ceremony to celebrate those helping to shape the future of fintech in this region, the event also sends a clear…

As of 1 July 2025, Malaysia’s broadened Service Tax (SST) framework has officially come into force, placing financial services under closer regulatory scrutiny. The policy shift, first introduced in Budget 2025, represents a fundamental recalibration in the way financial services are taxed. While the primary objective is to strengthen fiscal sustainability by expanding the tax base, policymakers have opted for a deliberate, layered approach to avoid disrupting essential banking services relied upon by the public. Do note that not every service is impacted, but those that are, could necessitate rethinking internal processes, pricing models, and customer-facing disclosures. What Falls Within…

Have you ever had a minor nuisance before? Like forgetting an umbrella. Something you hardly even noticed? That’s exactly how I’d like to feel about my next hospital bill. Just a small, manageable part of life. But the reality in Malaysia is different. Right now, medical inflation here in Malaysia is moving faster than most people can comfortably pay. Latest estimates put the rate at 15% this year, one of the steepest in the region. That means consultations, scans, and hospital stays all cost noticeably more every year. Medical and health insurance premiums follow suit. It’s easy to see why…

“I’m not a criminal. I didn’t lie, and I’m not involved in money laundering.” Those were the opening words of Michelle Law’s viral TikTok post regarding a money mule accusation linked to BigPay’s systems, which quickly sparked a nationwide conversation about the hidden costs of fintech automation, gaps in oversight, and the very real impact of system failures. At the heart of it is a seemingly trivial RM10.44 refund error by BigPay, which she says triggered a cascade of consequences. Michelle shared a screenshot of what she says is an email from BigPay, stating that her account had been flagged…