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Malaysian consumers ready to adopt AI, automation in digital banking

Open Banking allows banks to share data with other organisations in order to offer new services to customers and new revenue streams for the banks.

Process, product innovations top two focus areas in Malaysian FSI - AIF study

About 90 per cent of leaders in the Malaysian FSI agree that innovation is important for the sustainability of their organisations, while around 48 per cent said their companies were quick to innovate to gain first-mover advantage.

CIMB holds first meeting between Guan Eng, fund managers

KUALA LUMPUR, June 8 (Bernama) -- CIMB Group Holdings Bhd yesterday hosted its inaugural meeting between Finance Minister Lim Guan Eng and top Malaysian fund managers.

Al Rajhi Bank eyes RM3.5 mln in Takaful contributions by year-end

We are seeing momentum coming through, with two insurance products launched in the market earlier this year and another one which management has signed off and obtained regulatory approval to launch.

RHB Insurance eyes RM5 mln in premiums in 12 months

KUALA LUMPUR, June 5 (Bernama) -- RHB Insurance Bhd, a general insurance provider for retail and corporate customers, is targeting premiums of RM5 million from 10,000 policy holders over the next 12 months by leveraging on the launch of its RHB Insurance Mobile App.

HSBC, ING Bank execute first blockchain transaction

KUALA LUMPUR, June 5 (Bernama) --HSBC and ING Bank have successfully executed the first live trade finance transaction via blockchain for a shipment of soybeans from Argentina to Malaysia.

GST ends on AIBIM Bank services & products

KUALA LUMPUR, June 1 (Bernama) -- Effective today, the country's Islamic financial institutions have zero-rated the Goods and Services Tax (GST) on banking products and services, the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) said in a statement.

RHB Q1 net profit up 18.1 pct to RM590.82 mln

KUALA LUMPUR, May 31 (Bernama) --RHB Bank Bhd's net profit for the first quarter ended March 31, 2018 (Q1 2018) improved 18.1 per cent to RM590.82 million from RM500.28 million registered in the same quarter last year.

Hong Leong Bank, Hong Leong Islamic Bank to offer ASNB Funds effective June 1

Through this strategic collaboration with ASNB, we can now provide a more diversified range of investment offerings that can generate long-term, consistent and competitive returns to our customers.

CIMB Group Q1 net profit rises to RM1.34 bln

Higher net profit was achieved on the back of sustained cost discipline, lower provisions and gain from a stake disposal in CIMB Securities International.

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GST ends on AIBIM Bank services & products
RHB Islamic Bank CEO is new AIBIM President

 
Islamic Financial Institutions should adopt IIFM standards

Zero GST for life, general insurance and Takaful products
Takaful Malaysia converts composite licence to single licences

 
Taiwan's Shinkong Insurance company gets excellent ratings

MIDDAY, TUESDAY, JUNE 19
US 3.9960/4.0000
S'pore 2.9561/9592
100 Yen 3.6393/6440
Sterling 5.3011/3068
Euro 4.6489/6544
Source: Bank Negara Malaysia

Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Bankerís Cheque, Bank Draft and Cashierís Order. Do you think this additional charge is justified?
 

 
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