News & Reviews: Bank Negara Malaysia
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Mar 20, 2024
Bank Negara Malaysia (BNM) through its Annual Report 2023 today revealed that a whopping 11.5 billion e-payment transactions were recorded in our country last year. This is a significant growth compared to the 9.3 billion recorded a year prior.
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Mar 17, 2024
Previously, we reported on how the Malaysian government is requesting an explanation from Google after Google Finance erroneously showed an incorrect exchange rate of the United States Dollar (USD) to the Malaysian Ringgit (MYR). While Google has yet to issue any statement on the matter, its Google Finance disclaimer page clarified that the service doesn’t verify any finance data and is not obligated to do so.
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Mar 08, 2024
Bank Negara Malaysia (BNM) has introduced a new rule for money service businesses (MSBs) such as money changers to jot down the details of their Malaysian customers, regardless of the amount being changed. Enforced since 6 February, read on to find out more about this change.
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Nov 17, 2023
Bank Negara Malaysia (BNM) today announced the launch of cross-border real-time payment systems connectivity between Malaysia and Singapore. This allows for instant person-to-person (P2P) cross-border fund transfers via Malaysia’s DuitNow and Singapore’s PayNow systems.
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Oct 14, 2023
Bank Negara Malaysia (BNM) has revealed several interesting statistics regarding e-payment transactions, showcasing its strong growth in our country. In a speech by Assistant Governor Abd Rahman Abu Bakar, Malaysia recorded 9.5 billion e-payment transactions in 2022.
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Aug 25, 2023
DuitNow QR, the interoperable QR standard for real-time payments and funds transfers operated by Malaysia’s national payments network PayNet currently offers cross-border payments in Indonesia, Thailand and Singapore. Well, this cross-border feature may soon expand to the Philippines and Vietnam, as both countries’ respective central banks have joined the Regional Payment Connectivity (RPC) initiative.
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Feb 20, 2023
Previously, we reported that Shopee has launched the SLoan, a digital financing loan of up to RM120,000 for sellers on the platform. Now, Bank Negara Malaysia (BNM) has released a statement regarding SLoan, advising the public to carefully study its product terms and conditions before applying or accepting.
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Jan 16, 2023
The Ministry of Communications and Digital (KKD) has revealed that almost RM600 million in losses were recorded in 2022 due to scams and other cyber crimes in Malaysia. Hence, the ministry will focus on educating the public to be more digitally literate and not become victims.
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Jan 11, 2023
Malaysia has become the first Asia-Pacific country to roll out Mastercard Bill Pay, a new bill management tool that combines electronic bill presentation and payment in one place. Officially launched in Kuala Lumpur yesterday (10 January 2023), the tool is available to consumers via ATX’s digital wallet GoPay and web-based online payment platform PayHub2U.
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Dec 03, 2022
CIMB Bank Bhd and CIMB Islamic Bank Bhd (CIMB) have recently announced several new security measures for the CIMB Clicks and CIMB OCTO apps. Aimed at combating fraud and strengthening the security of their digital banking platforms, these measures include compulsory SecureTAC authorisation via the CIMB Clicks App for transactions over RM100.
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