Tag "Bank Negara Malaysia (BNM)"

How Will BNM’s Digital Insurance License (DITO) Address Protection Gaps in Malaysia

In recent years, the insurance landscape in Malaysia has undergone a transformation driven by digital innovation, of which the introduction of Bank Negara Malaysia’s digital insurer and takaful operators (DITO) framework is expected to be a game changer. The emergence

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JC3’s ESG Jumpstart Portal Launched to Promote Sustainability Among SMEs

The JC3’s SME Focus Group (SFG) has launched a new portal, ESG Jumpstart, to help small- and medium-sized enterprises (SMEs) adopt ESG practices. ESG Jumpstart is a one-stop information portal that provides SMEs with a simple and practical reference guide,

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BNM Sets Ambitious Climate Financing Goal by 2026, RM200 Billion Pledged to ESG

Bank Negara Malaysia (BNM) expects at least half of new financing by banks to be aligned with climate supporting or transitioning activities by 2026 as part of the Financial Sector Blueprint. This announcement was made by BNM Governor Datuk Abdul

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7 Key Budget 2024 Highlights Impacting Fintech in Malaysia

The Malaysia Budget 2024, tabled by Prime Minister Datuk Seri Anwar Ibrahim, outlines the country’s largest-ever financial blueprint, amounting to RM393.8 billion. Titled “Ekonomi MADANI: Memperkasa Rakyat,” this budget promises to prioritise and serve the ‘rakyat’ (people) with policies that

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BNM Targets First Half of 2024 to Finalise DITO Framework

Bank Negara Malaysia (BNM) has concluded its consultation on the Exposure Draft concerning the Licensing and Regulatory Framework for Digital Insurers and Takaful Operators (DITO Framework) initiated in November 2022. The draft proposes a framework to support the introduction of

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TNG Digital Fined RM600,000 for Onboarding Sanctioned Individuals

Bank Negara Malaysia (BNM) announced that it has imposed a RM600,000 penalty on TNG Digital, the owner and operator of Touch ‘n Go eWallet, for failing to screen its customers against sanctions lists. The penalties were issued as BNM found

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Adnan Zaylani Ushered in as BNM’s New Deputy Governor

Bank Negara Malaysia (BNM) announced the official appointment of Adnan Zaylani bin Mohamad Zahid as Deputy Governor for a three-year term effective 1 September 2023. The appointment was approved by the Minister of Finance. In his new role, Adnan will

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BNM Lays Out Second Financial Inclusion Framework for the Next 4 Years

The Bank Negara Malaysia (BNM) has developed its second Financial Inclusion Framework (2023–2026) to address several remaining barriers and challenges.   The four-year strategic roadmap features a shift in the focus from accessibility and usage to achieving broader development outcomes

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How Does Malaysia’s Islamic Finance Space Compare to Indonesia?

The global financial landscape has witnessed a paradigm shift over the past few decades, with Islamic finance emerging as a key player in the industry.  The Islamic banking system parallels conventional banking, functioning as an intermediary institution that aggregates surplus

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Where Does Malaysia’s Digital Payment Ecosystem Go From Here?

The rapid adoption of digital payments has revolutionized how we make transactions, offering benefits such as speed, affordability, and seamless experiences. This shift towards digital payments is not limited to domestic markets but has extended to cross-border transactions, with the

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