Malaysia

Malaysia’s economic rise makes its banking industry stable and supportive of growth.

It will comprise of four business units namely, Trustee Services and Products, Custody, Corporate Agency, and Fund Accounting.

RHB Capital Bhd and OSK Holdings Bhd have secured Bank Negara Malaysia's approval to commence negotiations for a possible merger between RHB Banking Group and OSK Investment Bank Bhd.

The Financial Mediation Bureau is handling some 3,000 cases at the moment with the increasing number of disputes in online transactions.

Affin Investment Bank disbursed business zakat totalling RM2.58 million, reports Bernama News.

Bank Muamalat has launched the Islamic Dual Currency Investment, to be initially offered in the Malaysian Ringgit, Euro and US Dollars to wholesale customers, reports Bernama News.

Through the Aprimo Relationship Manager, the bank will be able to efficiently provide customers with the right financial product or service.

Citibank Bhd expects to attract 100,000 new cardholders over the next three years with its newly-enhanced Giant-Citibank Credit Card.

The government targets further enhancing stakeholders' confidence and enhance the integrity of the Islamic financial industry.

Analysts believe Malaysia’s central bank’s approval will come if it will be supportive of consolidation of the banking sector.

Malaysia will continue its efforts to strengthen its position as an international Islamic financial centre and contribute towards the internationalisation of Islamic finance.

The Maybank group announced the appointment of Michael Foong Seong Yew as its chief strategy and transformation officer.

The ex-managing director of Accenture PLC’s management is tasked to oversee the group’s corporate development office.

The tie-up’s Enhancer Direct scheme to assist viable SMEs that are unable to secure financing due to insufficient collateral.

Maybank expects its community financial services revenue to grow to RM12 billion in 2015, from the current RM6 billion.

Once completed, the merger will overtake CIMB Securities which is currently leading with a market share of 10.5%.