Category: Business

KUALA LUMPUR, Takaful industry players are urged to embrace the aspirations of the recently issued exposure draft on the broader application of Ta`awun in takaful to explore new models in promoting social cohesion and wealth distribution. Bank Negara Malaysia (BNM) assistant governor Suhaimi Ali said the central bank remains committed to providing an enabling environment for the industry to test and introduce innovations. ‘For areas that may require regulatory flexibility, we welcome interest in tapping into the financial technology regulatory sandbox. This allows innovation to be piloted and refined, thus accelerating the integration of the Value-based Intermediation for Takaful (VBIT)

KUALA LUMPUR, The government has recovered a total of RM27.17 billion related to 1Malaysia Development Bhd (1MDB) as of Sept 30, 2024. Minister of Youth and Sports Hannah Yeoh stated that the funds deposited into the Asset Recovery Trust Account (AAMKA) now amount to RM3.04 billion. ‘The government will continue its efforts to recover all funds related to 1MDB that have been misappropriated, with the primary goal of maximising returns to settle 1MDB’s debts within the stipulated timeframe,’ she said in the Dewan Rakyat today. Yeoh made this statement on behalf of Deputy Finance Minister II Datuk Seri Amir Hamzah

DUBAI, Malaysia is making a significant impact at the Expand North Star 2024 (ENS 2024) event in Dubai with a 120-square-foot pavilion featuring 15 local technology companies. Led by the Malaysia Digital Economy Corporation (MDEC), the companies showcasing their products and services include OmniNexus, Codon Genomics, ProximaX Malaysia, Wilstech, Vero AI, and others, highlighting Malaysia’sMalaysia’s advanced digital infrastructure and innovation capabilities. MDEC’s head of digital industry acceleration, Wan Murdani Wan Mohamad, said the Malaysia pavilion, launched on Sunday, includes a dedicated meeting space for business discussions with potential investors, facilitating opportunities that could bring substantial value to Malaysia. The Consul

KUCHING, The Sarawak Multimedia Authority (SMA) has signed a memorandum of understanding (MoU) with Malaysia’s premier satellite solutions provider, MEASAT Global Bhd (MEASAT), to enhance Sarawak’s space industry development. The signing was witnessed by Sarawak’s Minister for Utility and Telecommunication Datuk Seri Julaihi Narawi today. Under the MoU, MEASAT will serve as a consultant to the Sarawak Space Industry and Satellite Committee (SISCOM) and offer industry expertise to shape policies, guidelines and the future of space and satellite industries in Sarawak. This will also include training and talent development, leveraging MEASAT’s more than 30 years of experience in satellite management

KUALA LUMPUR, With Budget 2025 set to be announced this Friday, SME Bank Bhd is calling for strategic measures to support the growth of small and medium enterprises (SMEs), focusing on sustainability, financial resilience, and digital transformation. Acting group president and chief executive officer Datuk Dr Mohammad Hardee Ibrahim anticipates that the forthcoming announcement will provide comprehensive and cohesive measures to align with the government’s goals of enhancing the nation’s economy and improving the quality of life for the rakyat. He emphasised the crucial role of financial institutions, especially development financial institutions (DFI), in economic development. ‘SME Bank stands out