KUCHING: Illicit tobacco is bleeding more than RM15 billion (US$3.6B, using 1 USD = RM4.176) annually from Southeast Asia’s tax revenue, eroding public finances and undermining health spending, according to a new report titled “Illicit tobacco trade and fiscal losses in ASEAN” by the Center for Market Education (CME). The
KUALA LUMPUR: Central Bank of Malaysia (BNM) has released two limited-edition commemorative coin series to mark Malaysia’s ASEAN Chairmanship in 2025 and the 75th anniversary of the Department of Statistics Malaysia (DOSM). Available from noon on Friday until 8.59 am on Nov 17, 2025, the coins pay tribute to both
KUALA LUMPUR: Bank Negara Malaysia (BNM) has urged the financial industry to deepen collaboration and embrace innovation amid increasingly complex and costly digital-age crimes. Governor Datuk Abdul Rasheed Ghaffour said financial institutions must work across sectors and leverage technology to tackle emerging threats such as online fraud, cybercrime and money
KUALA LUMPUR: Malaysia’s enhanced anti-money laundering (AML) framework is expected to strengthen investor confidence and reinforce the integrity of its financial system, following the country’s latest assessment by the Financial Action Task Force (FATF). Bank Negara Malaysia (BNM) Governor Datuk Abdul Rasheed Ghaffour said the FATF Mutual Evaluation 2025 marks
KUALA LUMPUR: Bank Negara Malaysia (BNM) has urged financial institutions to uphold ethics and integrity as the cornerstone of compliance in an era increasingly shaped by artificial intelligence (AI). Governor Datuk Abdul Rasheed Ghaffour said while technology can strengthen compliance systems, it cannot replace human judgment and accountability. “No algorithm
KUCHING: Millions of Malaysians still shy away from investing even as financial awareness rises, revealing a confidence gap in the nation’s effort to foster a stronger investing culture. Webull Malaysia’s Chief Executive Officer, Kenneth Chan, said the issue lies less in awareness and more in confidence. “Many still find the
KUCHING: Balancing fiscal limits with the need to protect retirees will be Malaysia’s toughest policy test as it weighs expanding its social pension system. Swinburne University of Technology Sarawak’s lecturer, Dr Nivakan Sritharan, said the World Bank’s call for a broader social pension system underscores a real policy dilemma. He
KUALA LUMPUR: Small businesses and individual borrowers could soon find it easier to obtain credit as Mastercard and CTOS Malaysia partner to strengthen credit risk management across the financial sector. In a joint statement, both companies said the collaboration introduces new credit risk transformation services for banks and lenders, aimed
KUCHING: Malaysia faces a delicate balancing act as it seeks to safeguard its elderly without overstretching public finances. Universiti Malaysia Sarawak (UNIMAS) Faculty of Economics and Business senior lecturer Dr Afiza Abu Bakar said the country’s social pension debate ultimately revolves around balancing compassion with fiscal discipline, given that public
KUALA LUMPUR: Malaysia has stepped up efforts to improve financial awareness and resilience with the launch of the National Financial Literacy Strategy 2.0 (NS2.0). Perbadanan Insurans Deposit Malaysia (PIDM) executive vice president Wan Ahmad Ikram Wan Ahmad Lotfi said the 2026–2030 strategy, launched by Prime Minister Datuk Seri Anwar Ibrahim,
