Malaysia
Malaysia fines two money services firms for non-compliances
Malaysia fines two money services firms for non-compliances
Merchantrade and JAGS were penalized for non-compliance with the Money Services Business Act 2011.
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How embedded finance and AI are reshaping Malaysia’s finance sector
Value migration to non-bank players with a "focused" model is accelerating.
Instapay and Mastercard enable near-real time remittance to 6 Asian countries
It will enable 3 million migrant workers in Malaysia to remit funds in local currencies.
Malaysia’s leading banks’ value increases 25% YoY
The market was led by Maybank which increased its value by 52% to US$5.2b.
Malaysia’s central bank appoints new deputy governor for supervision and regulation
BNM also announced a new technical adviser and an assistant governor.
Alipay+ make up 80% of crossborder QR payments in DuitNow
Revenue from such payments are 6 times higher in 2024 than 2023.
CIMB launches 6-year roadmap to enhance operations
Forward30 aims to position CIMB for long-term growth.
Malaysian banks’ impaired loans rose in January
Loan loss coverage ratio dipped to 128.6% from 129% previously.
CIMB’s net profit up 10.7% to $1.71b in 2024
They’ve proposed a second interim dividend of 20 sen per share.
Alliance Bank’s net profit up 7.9% to $123.9m in 9M FY2025
Overall loans rose 14.2%, with commercial loans growing fastest.
Maybank’s net profit up 7.9% to $2.27b in FY2024
Full-year dividend is 61 sen per share.
EWA fintech Payd raises $400,000 in seed extension round
Its Malaysian partners include McDonald’s, Starbucks, and Banyan Tree.
Malaysia’s private non-financial sector loans up 5.2% in Dec 2024
Business loan growth moderated although SME loan growth was “sustained.”
Malaysia fines AmBank for investment transaction breaches
AmBank failed to obtain approval for the transactions, the BNM said.
RHB kiosks replace debit cards on the spot
The machines have handled 70% of the Malaysian lender’s card replacements.
Maybank Islamic to transform digital banking services
It has partnered with audax to deliver digital banking solutions built on AWS.
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