Tag "Bank Negara Malaysia (BNM)"

Top 5 Stories That Shaped Malaysia’s Fintech Scene in 2022

2022 was set to be a transformative year for the fintech space in Malaysia. The long-awaited reveal of the five awardees for the first digital banking licences in the country finally took place to kick the year off, and it

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5 Interesting New Details in BNM’s New Digital Insurance & Takaful Draft Framework

On Friday, Bank Negara Malaysia (BNM) issued its exposure draft for digital insurance and takaful operators (DITO) for written feedback following the issuance of the Discussion Paper in January this year. As part of the licensing application process, BNM will

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Tune Protect Gets Conditional Approval to Join BNM’s Regulatory Sandbox

Tune Protect Ventures, a wholly owned subsidiary of Tune Protect Group, has received conditional approval from Bank Negara Malaysia (BNM) to participate in its Financial Technology Regulatory Sandbox. The approval allows Tune Protect to test a digital life insurance business

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Malaysia Sets up National Scam Response Center to Coordinate Rapid Responses

The Malaysian government has set up a National Scam Response Center (NSRC) to streamline coordination between agencies for rapid response towards online financial scams. The command center is a joint effort between the National Anti-Financial Crime Center (NFCC), Polis Diraja

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PolicyStreet Appoints Former Carousell Head Tang Siew Wai as Chief Digital Officer

Insurtech platform PolicyStreet has appointed former Carousell Malaysia country head Tang Siew Wai as its new Chief Digital Officer to spearhead the company’s growth strategy. Prior to joining PolicyStreet, Siew Wai established Carousell’s local office in Malaysia and helped make

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BNM, SC Sets up New Council to Position Malaysia as a Global Islamic Financial Center

Bank Negara Malaysia (BNM) and the Securities Commission Malaysia (SC) announced the establishment of the Malaysia International Islamic Financial Centre (MIFC) Leadership Council. The council serves as a platform to provide industry stewardship in enhancing Malaysia’s proposition as a global

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Ethis’ Co-founder Umar Munshi Receives Emerging Leader Prize

Bank Negara Malaysia (BNM) and the Securities Commission Malaysia (SC) awarded Umar Abdullah Mahmud Munshi, the Co-founder and Group Managing Director of Ethis Group with the Emerging Leader Prize in conjunction with The Royal Award for Islamic Finance 2022. The

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Tan Sri Dr. Mohd Daud Bakar Receives Royal Award for Islamic Finance 2022

The Royal Award for Islamic Finance 2022 was bestowed to Tan Sri Dr. Mohd Daud Bakar by the Yang di-Pertuan Agong at an award presentation ceremony held in Kuala Lumpur today. Established in 2010, The Royal Award a biennial award

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BNM: Banks Will Enforce Additional Measures to Combat Rising Financial Scams

There will be five additional measures that will be undertaken by the banking industry to combat financial scams, says Governor of Bank Negara Malaysia (BNM), Tan Sri Nor Shamsiah Mohd Yunus. The Governor announced this at a virtual exhibition by

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BNM Approves UOB’s Acquisition of Citi’s Consumer Banking Business in Malaysia

UOB Malaysia and Citi Malaysia have received regulatory approval from Bank Negara Malaysia (BNM) for UOB’s acquisition of Citi’s consumer banking business in the country. Following the approval, both sides will apply for a vesting order from the High Court

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