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Bank Negara: Insurers, takaful operators expected to deploy digital apps in 2023-2024 to improve motor claims experience
In its Annual Report 2022, the central bank said this initiative would enable consumers to conveniently manage all aspects of their claims journey digitally from notifying an ITO of the accident to receiving the repaired vehicle.
31 Mar 2023Read more
Bank Negara Malaysia Introduces Standardised Housing Loan and Home Financing Agreement For Retail Borrowers/Customers
Bank Negara Malaysia has announced the introduction of a standardised housing loan and home financing agreement for retail borrowers/customers. This initiative seeks to enhance the quality-of-service delivery, promote consumer understanding and comparability of key terms and conditions, and simplify language in such agreements, including borrowers'/customers’ and financiers' responsibilities and obligations.
31 Mar 2023Read more
Exposure Draft on Financial Technology Regulatory Sandbox Framework
This exposure draft sets out the Bank Negara Malaysia’s (the Bank) proposal to issue a new Financial Technology Regulatory Sandbox Framework (Framework) policy document, which contains enhancements to the policy document of the same name issued on 18 October 2016 [BNM/RH/PD 030-1]. The enhancements are focused at ensuring proportionate regulatory facilitation and improving operational efficiency of the existing sandbox procedures through:
- simplifying the sandbox’s Stage 1 (eligibility) assessment; and
- introducing an Innovation Green Lane, which aims to provide a risk-proportionate and accelerated pathway for innovative solutions by financial institutions with strong risk management capabilities.
30 Mar 2023Read more
SC: Size of Islamic capital market rose to RM2.32 trillion in 2022
The size of the Islamic capital market (ICM) increased to RM2.32 trillion as at end-2022, from RM2.31 trillion as at end-2021, according to the Securities Commission Malaysia (SC)’s Annual Report 2022 released on Monday (March 27).
29 Mar 2023Read more
Sunway Healthcare sets up framework to facilitate RM5bil sustainability sukuk issuance
Sunway Healthcare Group (SHG) has set up a sustainability financing framework to allow issuance of sustainability Sukuk under the RM5 billion Sukuk Wakalah programme by its wholly-owned Sunway Healthcare Treasury Sdn Bhd.
28 Mar 2023Read more