Tag "Bank Negara Malaysia"
BNM Orders CIMB and Maybank to Explain Recent Service Disruptions
Bank Negara Malaysia (BNM) has ordered CIMB and Maybank to deliver a comprehensive account of the root causes behind the recent service outages, which disrupted banking operations and inconvenienced customers. The regulatory body is taking a strict stance on ensuring
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Here Are 5 Key Takeaways from BNM’s 2023 Annual Report Released Today
Bank Negara Malaysia (BNM) had unveiled its Annual Report 2023 today, offering insights into the major advancements and regulatory measures undertaken within the financial sector over the past year. The AR 2023 details BNM’s key initiatives in fulfilling its mandates
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BNM and World Bank Unveil Two Nature-Focused Financial Initiatives at COP28
Bank Negara Malaysia (BNM) and the World Bank have announced two significant initiatives at the COP28 in Dubai to guide the financial sector towards supporting nature-positive outcomes. This announcement follows the guidelines set out in the 2022 report ‘An Exploration
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Instant P2P Fund Transfers Now Enabled Between Singapore and Malaysia
The Monetary Authority of Singapore (MAS) and Bank Negara Malaysia (BNM) have unveiled a new real-time payment linkage connecting Singapore’s PayNow and Malaysia’s DuitNow. This facilitates instant person-to-person (P2P) cross-border fund transfers, allowing users to transfer funds between the two
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BNM’s Symposium Participants Experience Making Live Cross Border QR Payments
The Malaysian central bank has kicked off its first BNM Sasana Symposium 2023 (SS2023) today at Sasana Kijang which featured an experiential showcase of the country’s cross-border QR payment linkages with Indonesia, Singapore, and Thailand. Participants of the Bank Negara
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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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