Malaysia
Malaysian banks will use cheque fees to incentivise electronic payments
To reduce the use of cash and cheques in the financial system, Bank Negara Malaysia is introducing a scheme whereby cheque fees will be used to incentivise e-payments
Malaysian banks working on a Swift rulebook for Islamic transactions
A Swift rulebook ‘will provide an efficient platform for the exchange of messages for Islamic finance transactions’, says governor of Bank Negara Malaysia
Malaysian deputy backs ‘constructive ambiguity’ in comms
Muhammad bin Ibrahim says less might be more when it comes to communicating macro-prudential policy; Bank Negara Malaysia allows for some ‘constructive ambiguity’
Zeti: Sukuk market has potential to fund infrastructure projects
Bank Negara Malaysia governor argues infrastructure projects need broader funding with sukuk markets an ‘important new source’
Malaysian central bank looks to set up financial ombudsman service
Scheme would ensure ‘effective and fair handling of complaints' against financial service providers, says bank, which adds service could be up and running in 2015
Malaysian deputy targets 'distortions’ in payments market
Muhammad bin Ibrahim says ‘more needs to be done’ to correct price distortions that he believes are holding back electronic payments in the country
Zeti calls for governance overhaul at central banks
Bank Negara Malaysia governor Zeti Aziz says central banks need to understand ‘the new realities’ of crisis management; argues for new internal committees dedicated to the cause
Malaysian deputy laments ‘price distortion’ between cheques and electronic payments
Muhammad bin Ibrahim says the $240 million spent on processing cheques by the Bank Negara Malaysia each year is a ‘huge and sheer wastage’ and could be avoided by more accurate pricing
Shariah principles will engender financial stability, says Zeti
Bank Negara Malaysia governor Zeti says Shariah principles, if properly adhered to, will help Islamic finance make a positive contribution towards overall financial stability
Malaysia central bank opens office in Beijing
BNM's newly established presence reflects growing trade and financial ties with China; governor also reveals new renminbi liquidity facility and MoU to establish cross-border collateral arrangements
Malaysia deputy touts progress on money laundering, terrorism financing
Alshari Yahaya also notes due diligence in some instances remains inadequate and not reflective of the level of risks; says 'reward system' should reflect strong risk culture and performance
Digital payments key to financial inclusion, says Gates report
New report into financial inclusion says digital payments are the way forward – but financial service providers will need to charge fees in order to cover the cost of serving the poor
Bank Negara Malaysia strikes deals with AFI and HKMA
Malaysian central bank joins forces with the Alliance for Financial Inclusion to develop global capacity-building programmes; will work with HKMA on offshore renminbi business development
Bank Negara Malaysia looks to co-operatives to boost financial inclusion
Central bank sets out framework for assessing whether a co-operative is governed well enough to accept deposits from non-members and extend finance to the ‘underserved’
Thailand and Hong Kong launch cross-border settlement scheme
Bank of Thailand and Hong Kong Monetary Authority look to eliminate cross-border settlement risk through establishment of Asia's third PvP link between different currencies
Bank Negara Malaysia seeks to limit superfluous supply of banknotes
Central bank prints 500 million new banknotes for celebrations at the end of Ramadan each year; urges public to accept high-quality recycled notes in their stead
Malaysia’s Zeti calls for greater macro-prudential supervision of Islamic finance
Bank Negara Malaysia governor says ‘new wave of internationalisation’ of Islamic finance necessitates greater prudential supervision and cross-border cooperation
Asean pioneers lay foundation for economic union with capital markets move
Thailand, Malaysia and Singapore press ahead with capital markets integration in bid to jump-start Asian Economic Community
Zeti promotes Islamic finance expansion
Says the industry’s rapid growth is dependent on its ability to serve the real economy
Malaysia deputy pushes for progress on data
Bank Negara Malaysia’s Muhammad bin Ibrahim says data compilation should become more forward-looking and statistical needs identified more quickly
Malaysian deputy puts burden of education on financial advisers
Bank Negara Malaysia deputy governor says high demand for financial products has caused the central bank to refine its conduct guidelines but responsibility for education still falls with advisers
Insurers must prepare for climate change, says Zeti
Bank Negara Malaysia’s Zeti says climate change presents a huge challenge to Asian insurance industry; risk management systems must adapt
Asian integration holds key for Malaysia’s Zeti
Bank Negara Malaysia governor says integration necessary if Asia is to continue to develop; funds need to be able to reach investment opportunities
Central Bank of Malaysia raids ‘Ponzi’ scheme companies
Four gold-trading companies raided by central bank amid charges they were running illegal gold-trading schemes described as ‘Ponzi’ operations, according to the Malaysian central bank