Online financial fraud growing but preventable
KUCHING: In just about every country in the world, financial fraud is a major issue, and Sarawak, is no exception. Financial fraud cases have increased recently in the state, costing both individuals as well as organisations a great deal of money. Phishing, identity theft and investment scams are just a few of the techniques fraudsters […]
OPR expected to stay at current level for longer time
KUALA LUMPUR: Research houses see the possibility of Bank Negara Malaysia (BNM) maintaining its overnight policy rate (OPR) rate at the current level for a longer time, following the pause in January and March. Kenanga Research said this view is further backed by the Monetary Policy Committee’s (MPC) primary aim to “calibrate the monetary policy […]
Short-term interbank rates end stable on BNM’s operations
KUALA LUMPUR: Short-term interbank rates closed steady today on Bank Negara Malaysia’s (BNM) operations to absorb surplus liquidity from the financial system. Liquidity in the conventional system decreased to RM41.41 billion from RM44.28 billion while Islamic funds’ liquidity declined to RM27.91 billion from RM34.04 billion this morning. Earlier, the central bank conducted two conventional money […]
Inflation up to 3.3 pct in 2022
KUALA LUMPUR: Malaysia’s headline inflation increased to 3.3 per cent in 2022 compared with 2.5 per cent in 2021, while core inflation averaged higher at 3 per cent from 0.7 per cent in 2021, Bank Negara Malaysia said. For the fourth quarter, it said the country’s headline inflation moderated to 3.9 per cent versus 4.5 […]
Lass claims she’s victim of mule account
KUCHING: A local lass has claimed she is a victim of a mule account holder after she unknowingly lent three bank cards to a friend last year. Her carelessness resulted in Bank Negara Malaysia (BNM) freezing all her bank accounts. In addition, the 21-year-old also received a letter from the Sungai Buloh district police headquarters […]
Be proactive in tackling bank scams
KUCHING: Sarawak Democratic Action Party (DAP) applauds the Sarawak police force for the quick response on the “bank-account-renting” issue. As such, the Sarawak DAP chairman Chong Chieng Jen called for a comprehensive approach by the government and the Bank Negara Malaysia (BNM) to resolve the matter. “While the Royal Malaysia Police (PDRM) are taking the […]
BNM’s international reserves at US$104.5 bln as at Oct 14
KUALA LUMPUR: Bank Negara Malaysia’s (BNM) international reserves amounted to US$104.5 billion as at Oct 14, 2022, sufficient to finance 5.5 months of imports of goods and services. The reserves position is 1.1 times of the total short-term external debt, the central bank said in a statement today. It said the main components of the international reserves were […]
Old Currency Matters
When an elderly man asked John Goh Cheong Huat (pic) for permission to display his coin collection at his coffee shop, the latter had no idea that he would soon be joining the ranks of those who collect old coins and banknotes. A passion for collecting old currency, stamps Who knew that John Goh Cheong […]
OPR Rate Hike: research houses positive on banking sector
KUALA LUMPUR: CGS-CIMB reiterated its “overweight” call on banks as key beneficiaries of the overnight policy rate (OPR) hikes after Bank Negara Malaysia (BNM) raised 25 basis points (bps) to 2.50 per cent yesterday. The research house said the 25 bps hike yesterday was the third OPR hike this year after hikes on May 11 […]
Bank Negara Malaysia reassures payment system is safe, secure
KUALA LUMPUR: In light of the potential data breach incident announced by iPay88 (M) Sdn Bhd, Bank Negara Malaysia (BNM) has instructed banks to immediately notify affected cardholders of additional protective measures that will be taken to further protect them against risks of fraudulent or unauthorised transactions. It said the banks have also heightened their […]
