Tag "Bank Negara Malaysia"
Malaysian BNPL Firms May Be Subject to RM2 Million Minimum Requirement
The Consumer Credit Oversight Board (CCOB) is seeking public feedback on the proposed regulatory framework for credit businesses in Malaysia. The proposals outlined in this second public consultation paper (CP2) will provide further details on the implementation of the Consumer
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Malaysia and Singapore’s QR Code Payments Linkage Has Gone Live
The cross-border QR code payment linkage between Singapore and Malaysia has gone live, enabling customers of participating financial institutions to make payments by scanning NETS QR and DuitNow QR codes. This will support in-person payments through the scanning of physical
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Here’s a Snapshot of the Newly Released BNM Annual Report for 2022
Bank Negara Malaysia (BNM) released its Annual Report 2022 yesterday to detail its key initiatives in fulfilling its mandates to promote monetary and financial stability conducive to the sustainable growth of the Malaysian economy. Here are five key highlights from
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Touch ‘n Go Implements Security Features Laid Out by BNM Ahead of Deadline
Touch ‘n Go eWallet has successfully implemented all five mandatory safety and security measures imposed by the Bank Negara Malaysia to combat scams, four months before the June 2023 deadline. The first of the five key measures are the migration
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5 Key Budget 2023 Highlights Impacting Fintech in Malaysia
The revised Budget 2023, with a theme of ‘Developing Malaysia Madani’ was officially presented last week by Prime Minister Datuk Seri Anwar Ibrahim. The comprehensive budget spanned a wide range of determinations for Malaysia in 2023, with an allocation of
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Tune Protect Gets Approval for BNM Sandbox
Tune Protect Group announced that its wholly owned subsidiary Tune Protect Ventures (Tune Protect Life) has received Bank Negara Malaysia’s (BNM) approval to participate in the Financial Technology Regulatory Sandbox. Tune Protect Life will provide simple and affordable pure life
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TNG to Implement Bank Grade Security Measure Imposed by BNM
Touch ‘n Go eWallet announced that it has come forward to be the first startup and non-bank provider that has committed to voluntarily incorporate the five key measures which have been recently imposed on banks by Bank Negara Malaysia to
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BNM Adds Forex Broker OctaFX to Its Consumer Alert List
Bank Negara Malaysia (BNM) has tacked on OctaFX, an online currency trading brokerage, to its Financial Consumer Alert list as of yesterday. The central bank warned consumers that OctaFX is not authorised nor approved under the relevant laws and regulations
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BNM Collaborates With SSM to Regulate AML/CFT and TFS
Bank Negara Malaysia (BNM) will be collaborating with the Companies Commission of Malaysia (SSM) to strengthen collaboration in the regulation and supervision of anti-money laundering, countering financing of terrorism (AML/CFT) and targeted financial sanctions (TFS). Both entities signed a Terms
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Bank Negara Malaysia Announces Much Anticipated Digital Banking Licenses
After a month of delay, Bank Negara Malaysia (BNM) finally announced the list of successful applicants. The framework which was first issued on 30th December 2020, was hotly contested and attracted 29 parties to bid for the licenses. The central
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