Easier process to purchase homes soon
KOTA SAMARAHAN: The Housing and Local Government Ministry is drawing up new ways to ease the process of obtaining financial loans for youth and first-time home buyers in the country. Its minister Datuk Seri Reezal Merican Naina Merican said his ministry, through Bank Negara, is forming a panel of experts to scrutinise the best ways […]
Digital banking to transform banking infrastructure
KUCHING: The implementation of digital banking in the state will see a growing change in its banking infrastructure that will benefit the people, especially the rural population, said caretaker Chief Minister Tan Sri Abang Johari Tun Openg. He said at present, the state government was awaiting approval from Bank Negara Malaysia for a licence to […]
Bank Negara urged to review policies
KUCHING: The Sarawak Housing and Real Estate Developers Association (Sheda) has requested Bank Negara Malaysia (BNM) to review various policies, including establishing a minimum quota for housing loans and business finance approvals in Sarawak. While Bank Negara cannot dictate what commercial banks should do, Sheda president Augustine Wong Chung Ho believes that it is equally […]
Bank Negara will lead e-payment promotion efforts
KUALA LUMPUR: Bank Negara Malaysia will spearhead efforts to promote the use of e-payments among consumers and merchants to boost easy and secure digital transactions under the MyDigital Community Cluster. Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed said the decision was made during the third meeting of the National Digital Economy […]
Borrowers may contact BNMTELELINK over problems on loan repayment assistance
KUALA LUMPUR: Bank Negara Malaysia (BNM) has urged the public to contact BNMTELELINK if they were to encounter any problems with loan repayment assistance applications or difficulties in contacting their respective banks. The central bank said if borrowers faced any difficulties with their banks, or if their instalments increased unreasonably, they may contact BNMTELELINK at […]
GrabPay rolls out DuitNow QR to spur cashless payment adoption
KUALA LUMPUR: GrabPay, the in-app wallet of Grab, has rolled out the GrabPay DuitNow QR across the country to encourage nationwide adoption of cashless payments and the digital economy. In a statement today, it said DuitNow QR, which is operated by Payments Network Malaysia Sdn Bhd (PayNet), would provide consumers with a safe, easy payment […]
Malaysia’s GDP likely to grow by 0.5 pct in Q1 2021
KUALA LUMPUR: Malaysia’s gross domestic product (GDP) is likely to have grown by 0.5 per cent quarter-on-quarter in the first quarter of 2021 (Q1 2021), compared to the 0.3 per cent contraction seen in Q4 2020, said Moody’s Analytics. It said although Malaysia has contended with a severe resurgence in Covid-19 cases that peaked in […]
Bank Negara cautions against scams ahead of Aidilfitri
KUCHING: Calling a potential victim up on the pretext of updating or correcting bank account details is one of the latest tactics used by scammers ahead of the Hari Raya Aidilfitri celebration. Bank Negara Malaysia (BNM) Kuching Branch head Mohd Irman Mohd Din said victims would be tricked into providing their Internet banking information and […]
Analysts mixed on further OPR reduction
KUALA LUMPUR: Analysts are mixed in their views on Bank Negara Malaysia’s (BNM) stance on the overnight policy rate (OPR) in the upcoming Monetary Policy Meeting on Wednesday. Bank Islam Malaysia Bhd chief economist Dr Afzanizam Mohd Rashid said the central bank would likely reduce the OPR by 25 basis points during the meeting. “We […]
Banks to reduce base rate by 0.5%
KUCHING: Public Bank will reduce its base rate and base lending rate/base financing rate by 0.5 percent effective May 12. This is in line with Bank Negara Malaysia’s (BNM) overnight policy rate (OPR) being cut by 50 basis points (bps) from 2.5 percent to two percent on May 5. At the same time, Public Bank’s […]
