News

It grants merchants pre-authorization to automatically deduct funds.

It is made out of recycled plastic bottles recovered from coastal areas.

Profitability will remain under pressure due to stiff competition and high costs.

Reforms will include better cost transparency from BNPL, mobile wallets.

The MOU will facilitate the use of local currencies in retail payments in the two countries.

Expect some minor asset-quality deterioration, however.

Their assets make up 1.3% of the system as of H1 2023.

CIMB Islamic also named Deutsche Bank as its foreign custody services support.

This is part of the two countries’ agreement to promote bilateral transactions in local currency.

The wealthtech industry is expected to skyrocket its ‘onshore’ PFA of around $81t (SG$108.27t/HK$632.82t) by 2027, driven by Singapore and Hong Kong markets.

The bank is expected to receive support from its parent SC in case of times of need

Institutions are expected to achieve full compliance within 6 months.

Lee is currently head of group wealth management and community financial services.

Generative AI and the expansion of fintech brands into the insurance sector are predicted to propel the industry’s advancement to new heights.

They can receive up to RM50,000 in financing.

It will add $56b and $54b in new value to corporate and retail banking, respectively.