• AmBank Launches Entrepreneurship Challenge
  • BNM To Provide Guidelines On Cryptocurrency By Year-end
  • ASNB Aims to Register 6,000 New Investors At Fiesta Labur PNB
  • Islamic Banks Adopt Customer Service Charter

AmBank Launches Entrepreneurship Challenge

AmBank Group has launched an entrepreneurship challenge aimed at providing Small and Medium Enterprises (SMEs) with access to valuable knowledge sharing sessions and development training. Managing Director (Business Banking Division) Christopher Yap said the challenge, the Ambank BizRACE, covers the areas of leadership development, improvements in the business model as well as system and structure, and culture transformation. “This move is based on AmBank’s collection of significant data showing that SMEs need access to knowledge, skills and opportunities to move to the next life cycle of their businesses. “Participating SMEs will also have an opportunity for greater market accessibility from a branding perspective,” he told a media conference here, today. Yap said according to current statistics, SMEs made up 97.3 per cent of business establishments in Malaysia, and almost 80 per cent of companies do not get past the three-year mark.

BNM To Provide Guidelines On Cryptocurrency By Year-end

Bank Negara Malaysia (BNM) is planning to issue guidelines on cryptocurrency by year-end, said Governor, Tan Sri Muhammad Ibrahim (pic). He said cryptocurrency, or digital currency, had attracted a lot of attention from central banks around the globe. “We hope that by year-end, BNM will be able to come out with some guidelines on cryptocurrency, particularly those related to anti-money laundering and terrorist financing. “We want to ensure that there is a clear guideline for those who want to participate in this particular sector,” he added.

Cryptocurrency, such as Bitcoin, is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and control the creation of additional units of the currency. Cryptocurrencies are used primarily outside existing banking and governmental institutions, and exchanged over the Internet. While these alternative decentralised modes of exchange are in the early stages of development, they have the unique potential to challenge existing currency and payments systems. As at June 2017, total market capitalisation of cryptocurrencies exceeded US$100 billion, recording a daily volume of more than US$6 billion.

ASNB Aims to Register 6,000 New Investors At Fiesta Labur PNB

Amanah Saham Nasional Bhd (ASNB), a wholly-owned unit of Permodalan Nasional Bhd (PNB), has targeted to register 5,000 to 6,000 new account holders during the Fiesta Labur PNB in Putrajaya from 28-September to 1 October. Its Chief Executive Officer/ Executive Director, Mohammad Hussin said this is based on the expected visitor turnout of about 15,000 at the carnival. “Fiesta Labur PNB is the culmination and showcase of all PNB’s financial literacy programmes that have been organised throughout the year in all states across the country. “It aims to deliver investment-related content through fun and casual engagement sessions with the participants and visitors,” he told a media briefing.

Islamic Banks Adopt Customer Service Charter

The Association of Islamic Banks Malaysia (AIBIM) has adopted the Customer Service Charter for the Islamic banking fraternity in an effort to solidify the commitment towards improving customer service. In a statement today, the association said, the charter, which was developed through joint efforts of its member banks, marked another milestone in the commitment by Islamic banks to deliver a consistent high standard of customer service. Its President, Datuk Mohd Redza Shah Abdul Wahid, said Islamic banks were expected to consistently demonstrate that transparency was at the heart of their business model. AIBIM said the charter has been successfully rolled out by all its members effective Sept 15, 2017, and had incorporated four pillars ? Know your customer; Timely and efficient service; Transparent and personable services; and, Banking made accessible.