malaysia - Banking & Finance - News

SC revises Guidelines for Property Crowdfunding

KUALA LUMPUR, May 17 (Bernama) - The Securities Commission Malaysia (SC) has revised its Guidelines on Recognised Markets to introduce new requirements to facilitate the new Property Crowdfunding (PCF), said Chairman Datuk Syed Zaid Albar. He also announced the registration of eight new Recognised Market Operators (RMO) comprising three equity ...
Date: 17 May 2019; Type: Legal News; Source: Bernama

BNM opens up Dynamic Hedging Scheme for Trust Banks, Global Custodians

KUALA LUMPUR, May 16 (Bernama) - Bank Negara Malaysia (BNM) is opening up the dynamic hedging programme for trust banks and global custodians on behalf of their clients effective immediately.
Date: 16 May 2019; Type: Legal News; Source: Bernama

MoF sets up Debt Management Office

KUALA LUMPUR, May 15 (Bernama) - The Ministry of Finance has set up the Debt Management Office (DMO) to review and manage the government’s debt and liabilities.
Date: 15 May 2019; Type: Industry Updates; Source: Bernama

BNM appoints Two External Members to Monetary Policy Committee

KUALA LUMPUR, Apr 29 (Bernama) - Bank Negara Malaysia (BNM) has reappointed Professor Dr Yeah Kim Leng and appointed Datuk Dr Gan Wee Beng as external members of its Monetary Policy Committee (MPC) effective April 1, 2019.
Date: 29 April 2019; Type: Industry Updates; Source: Bernama

Proactive Measures for smoother Financial Market, Dewan Negara told

KUALA LUMPUR, Apr 25 (Bernama) - The government has taken several proactive measures to ensure a smoother financial market, the Dewan Negara was told today. Deputy Communications and Multimedia Minister Eddin Syazlee Shith, who was representing the Finance Ministry during Question Time said the measures were to ensure adequate liquidity, resil ...
Date: 25 April 2019; Type: Legal News; Source: Bernama

Consumer Credit Act Drawn-up to provide Syariah-Compliant Loans

KUALA LUMPUR, Apr 11 (Bernama) - The Housing and Local Government Ministry is drawing up the Consumer Credit Act which would ensure consumers get loans from syariah-compliant loan companies, the Dewan Rakyat was told today. Its minister Zuraida Kamaruddin said a townhall session was held with various government agencies to get their feedback o ...
Date: 11 April 2019; Type: Legal News; Source: Bernama

Federal Court rules Bank Negara SAC Findings Binding on Civil Courts

PUTRAJAYA, Apr 10 (Bernama) - The Federal Court in a 5-4 majority decision held that Bank Negara Malaysia's Shariah Advisory Council’s (SAC) findings on Islamic finance is binding on Civil Courts.
Date: 10 April 2019; Type: Legal News; Source: Bernama

SSER fined RM18 Mln for infringing BNM Conditions over Pipeline Projects

KUALA LUMPUR, Apr 5 (Bernama) - Suria Strategic Energy Resources Sdn Bhd (SSER), a subsidiary of the Ministry of Finance which carried out two petrochemical and gas pipeline projects worth RM9.4 billion was today fined RM18 million by the Sessions Court here today for failing to comply with Bank Negara Malaysia (BNM) conditions.
Date: 05 April 2019; Type: Legal News; Source: Bernama

BNM to ensure SMEs continue to have access to financing

KUALA TERENGGANU, Apr 5 (Bernama) - Bank Negara Malaysia (BNM) will continue to improve cooperation with the finance industry to ensure entrepreneurs who are qualified and in need can obtain financing.
Date: 05 April 2019; Type: Legal News; Source: Bernama

Dewan Rakyat passes RM19.6 Billion Supplementary Budget

KUALA LUMPUR, Apr 4 (Bernama) - The Dewan Rakyat today approved the supplementary budget of RM19.6 billion proposed by Finance Minister Lim Guan Eng. The approval came after the third reading of the Supplementary Supply Bill (2018) and a motion on the First Supplementary Development Expenditure 2018 in front of Speaker Datuk Mohamad Ariff Md Y ...
Date: 04 April 2019; Type: Legal News; Source: Bernama

BNM calls for Comprehensive Reform of Employment Sector

KUALA LUMPUR, Mar 27 (Bernama) - Bank Negara Malaysia (BNM) has called for a comprehensive reform of the country’s employment sector to attract quality investments that can generate more high-skilled jobs and offer better salaries. Governor Datuk Nor Shamsiah Mohd Yunus said currently, workers in Malaysia are not paid equitably despite p ...
Date: 27 March 2019; Type: Legal News; Source: Bernama

SC allows 22 Firms to operate Digital Asset Exchange after March 1

KUALA LUMPUR, Mar 6 (Bernama) - The Securities Commission (SC) has permitted 22 companies to continue operating a digital asset exchange after March 1, 2019.
Date: 06 March 2019; Type: Legal News; Source: Bernama

SC imposes Ban on Firm, Partners for breaching Auditing Standards

KUALA LUMPUR, Mar 6 (Bernama) - The Securities Commission Malaysia’s (SC) Audit Oversight Board (AOB) has banned McMillan Woods Mea (AF 001995) and two of its partners, Mea Fatt Leong and Wong Joo Hua, from accepting clients and auditing any public interest entities or schedule funds for 12 months, effective Feb 14, 2019.
Date: 06 March 2019; Type: Legal News; Source: Bernama

BNM to launch Risk Management Policy to tackle Cybercrime

KUALA LUMPUR, Feb 19 (Bernama) - Bank Negara Malaysia (BNM) will be launching its Risk Management in Technology policy in June this year to provide guidelines, especially for financial institutions, to combat the rise in cybercrime. CyberSecurity Malaysia chief executive officer Datuk Amirudin Abdul Wahab said more than 10,000 cases of cybercr ...
Date: 19 February 2019; Type: Legal News; Source: Bernama

SC reviews Proposals to spur Venture Capital Industry

KUALA LUMPUR, Feb 11 (Bernama) - The Securities Commission (SC) is reviewing eight recommendations to spur the venture capital (VC) industry including making public VCs more commercially driven and liberalising VC tax incentives.
Date: 11 February 2019; Type: Industry Updates

New Cryptocurrency for Online Gaming

KUALA LUMPUR, Jan 31 (Bernama) - Five Colors Technologies Ltd has announced that new cryptocurrency, Five Colors Coin (FCC), is to become e-sports money and will be listed on CoinBene with the initial exchange offering (IEO) carried out today.  
Date: 31 January 2019; Type: Industry Updates; Source: Bernama

SC amends Guidelines to require Digital Asset Platform Operators to register

KUALA LUMPUR, Jan 31 (Bernama) - The Securities Commission (SC) has added a new chapter in the Guidelines on Recognised Markets to require digital asset platform operators to be registered as a recognised market operator. In a technical briefing to the media today, the SC said the new framework is part of its efforts to promote innovation whil ...
Date: 31 January 2019; Type: Legal News; Source: Bernama

Bursa appoints Shireen Muhiudeen as Non-Executive Chairman

KUALA LUMPUR, Jan 30 (Bernama) - Bursa Malaysia Bhd has appointed Datuk Shireen Ann Zaharah Muhiudeen as public interest director and non-executive chairman to succeed Tan Sri Amirsham A Aziz, effective March 1, 2019.
Date: 30 January 2019; Type: Industry Updates; Source: Bernama

SC reprimands, fines Deloitte RM2.2 Million on Sukuk Issuance linked to 1MDB

KUALA LUMPUR, Jan 30 (Bernama) - The Securities Commission Malaysia (SC) has reprimanded and imposed penalties on Deloitte PLT (Deloitte) for four breaches related to the RM2.4 billion sukuk murabahah programme issued by Bandar Malaysia Sdn Bhd (BMSB) in 2014.
Date: 30 January 2019; Type: Legal News; Source: Bernama

SC reprimands Three Auditors for Failure to meet Standards

KUALA LUMPUR, Jan 29 (Bernama) - The Securities Commission Malaysia’s (SC) Audit Oversight Board (AOB) has reprimanded three auditors for failure to comply with the International Standards on Auditing when auditing their respective public-listed company clients.
Date: 29 January 2019; Type: Legal News; Source: Bernama

INDUSTRY UPDATES

No Freeze in Intake of Foreign Workers - Ministry

KUALA LUMPUR, May 18 (Bernama) - The Human Resources Ministry has clarified that there is no freeze in the recruitment of foreign workers although many applications to bring in workers have been rejected for non-compliance with the law.

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INDUSTRY UPDATES

Actions against those who tarnish Judiciary's Image, Dignity, says CJ

PUTRAJAYA, May 17 (Bernama) - Actions will be taken against those who tarnish the judiciary's image and dignity, says Chief Justice Datuk Tengku Maimun Tuan Mat.

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INDUSTRY UPDATES

Right Decisions only Way for Judiciary to recover Glory - Attorney General

PUTRAJAYA, May 17 (Bernama) - Attorney-General Tommy Thomas says judges must always endeavour to make the right decisions, without fear or favour, and regardless of the personality of the party or the accused before them.

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INDUSTRY UPDATES

Transport Ministry makes it More Flexible for e-hailing Drivers to obtain PSV Licence

KUALA LUMPUR, May 17 (Bernama) - The Ministry of Transport is willing to make it easier for e-hailing drivers to clock in the six hours of course time to obtain a Public Transport Vehicle (PSV) licence.

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INDUSTRY UPDATES

RM1.56 Mln Fine on Poachers, highest so far for Wildlife Crimes

PUTRAJAYA, May 17 (Bernama) - The Kuala Terengganu Sessions Court's decision to fine RM1.56 million each on two Vietnamese poachers has been the highest amount so far for wildlife crimes in the country's history, said Water, Land and Natural Resources Minister Dr Xavier Jayakumar.

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INDUSTRY UPDATES

Adib Inquest: Lawyer grills Forensics Expert on 'Probability Report'

SHAH ALAM, May 16 (Bernama) - A lawyer questioned the ‘probability report’ of a specialist medical witness in the inquest into the death of Muhammad Adib Mohd Kassim, that injuries to the right chest of the firefighter were caused by a curb or road shoulder.

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INDUSTRY UPDATES

Government agrees to appoint a Youth to represent them in the Senate

BANGI, May 15 (Bernama) - Prime Minister Tun Dr Mahathir Mohamad announced that the government has agreed to appoint a member of the Senate from among the youths with wide expertise and knowledge in the field and issues on the development of youths.

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INDUSTRY UPDATES

MoF sets up Debt Management Office

KUALA LUMPUR, May 15 (Bernama) - The Ministry of Finance has set up the Debt Management Office (DMO) to review and manage the government’s debt and liabilities.

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INDUSTRY UPDATES

Universities, Industry Players to join forces for IR 4.0

GEORGE TOWN, Apr 29 (Bernama) - The joint forces of the brains in the universities and the capacity and capabilities of key industries will make a change for a better world through the Fourth Industrial Revolution (IR 4.0), said Universiti Sains Malaysia (USM) vice-chancellor Prof Dr Asma Ismail.

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INDUSTRY UPDATES

BNM appoints Two External Members to Monetary Policy Committee

KUALA LUMPUR, Apr 29 (Bernama) - Bank Negara Malaysia (BNM) has reappointed Professor Dr Yeah Kim Leng and appointed Datuk Dr Gan Wee Beng as external members of its Monetary Policy Committee (MPC) effective April 1, 2019.

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INDUSTRY UPDATES

Those given Trust, Power should Build a better Nation Based on Rule of Law - Sultan Nazrin

KUALA LUMPUR, Apr 25 (Bernama) - The Sultan of Perak, Sultan Nazrin Shah said those given the trust, power and position, now have the opportunity to build a better Malaysia based on the rule of law.

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INDUSTRY UPDATES

King decides High Court Registry Location on Advice of PM - Sabah Law Society

KOTA KINABALU, Apr 25 (Bernama) - The principal registry of the High Court of Sabah and Sarawak can be relocated to any place in Sabah or Sarawak as determined by the Yang di-Pertuan Agong acting on the advice of the prime minister, the Sabah Law Society (SLS) said today.

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INDUSTRY UPDATES

Mobile Application on Labour Market Information Launched

PUTRAJAYA, Apr 23 (Bernama) - Information on Malaysia's labour market is now available at the fingertips with the launch of a new mobile application, Labour Market Information Gateway or LMI Gateway today.

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INDUSTRY UPDATES

Former Lawyer Pleads not Guilty to CBT Over Client's House Sale Proceeds

KUALA LUMPUR, Apr 23 (Bernama) - A former lawyer pleaded not guilty at the Sessions Court here today to a charge of criminal breach of trust amounting to RM338,000 which was the proceeds from the sale of a house belonging to his client three years ago.

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INDUSTRY UPDATES

Cybersecurity Challenge should be viewed as an Opportunity - Gobind

CYBERJAYA, Apr 23 (Bernama) - A national innovation ecosystem needs to be developed to transform cybersecurity challenges towards forming new opportunities, ideas and solutions, Communications and Multimedia Minister Gobind Singh Deo said today.

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