Here are the 5 Digital Banks of Malaysia (with Boost getting the license)

Finally, wait until neck already looooooong 🦒🦒🦒 the winners of the most anticipated digital bank licenses in Malaysia were announced by Bank Negara Malaysia (BNM) today (29 April 2022).

This will mark the new chapter of the local banking industry and also the Fintech industry in Malaysia. We promised that we will be blogging more about Fintech / Digital Bank from now onwards. 😊

All 29 applications received were thoroughly assessed by BNM, which cover the character and integrity of applicants, nature and sufficiency of financial resources, soundness and feasibility of business and technology plans as well as ability to meaningfully address financial inclusion gaps.

Who gets it?
What to expect?

(Online Banking) Which one is FAKE?

This is a very important message to alert all mobile/online banking users. A viral message was circulating on various social media recently to alert bank users to be careful when making online payments/transfers.

In order to give our readers a clearer picture, we have prepared these pictures here side-by-side.

Here are the two examples of online payment landing pages.

Do you know which one is Real? Which one is Fake?

Answer ______ ?

Why SC lodges Police Report against Serba Dinamik?

Thinking that the saga will be ending very soon after the recent RM16 million compound issued by the Securities Commission to Serba Dinamik Holdings Bhd and four of its top officials?

Hmmm... Not so soon... Why?

"Since May 2021, there were numerous press reports portraying the company in a negative light. A large number of the press reports concern the actions taken by Bursa and the SC against the company."

"Many of the company’s trading partners had imposed difficult terms on the company for continuation of business dealings. The lenders who had given revolving facilities had suspended the use of these facilities. Essentially, the company was placed in a quagmire," as stated in the Serba Dinamik's company announcement statement on 21st April 2022.

How many pages of the announcement?
Answer: Total 26 pages

The latest twist of the saga is here today (Yeah! Sunday. This is very odd for SC to issue a media statement on Sunday!) 👀💣

Below is the media statement issued by SC today!

How many and why people apply for EPF Special Withdrawal? Here are the statistics...

The Employees Provident Fund (EPF) announces that as of 8pm on 14 April 2022, it has received a total of 5.3 million applications under the Special Withdrawal facility after it was opened to members on 1 April 2022.

The total number of applications is equivalent to RM40.1 billion. The payments will be made in batches, with the first batch set to commence from 20 April 2022.

(We have prepared a nice infographic below...) 😀😁

Based on feedback from members applying for the facility, the three top reasons for applying include:

SC Imposes Maximum Compound against SERBA DINAMIK?

13 April 2022  |  Kuala Lumpur

The Securities Commission Malaysia (SC) today, with the written consent of the Public Prosecutor, and pursuant to its powers under Section 373(1) of the Capital Markets and Services Act (CMSA), compounded Serba Dinamik Holdings Berhad (Serba Dinamik), its chief executive officer, executive director and two officers for a sum of RM3 million each.

This follows the decision of the Public Prosecutor to accept the representation made to the Attorney-General’s Chambers by Serba Dinamik and the individuals involved regarding the charges pending in court.

Is this the maximum amount?
Who gets another compound?