[ KUALA LUMPUR: Bank Negara Malaysia (BNM) has required two banks which experienced services outages recently to provide a full explanation of the root cause leading to the incidents. The central bank said in a statement on Tuesday night that both banks were also required to provide corrective and preventive measures undertaken to avoid a … Read more
[ KUALA LUMPUR: The ringgit traded in a tight range today but closed marginally higher as investors awaited interest rate outlook projections from the current US Federal Reserve (Fed) meeting, which concludes later tonight. At 6 pm, the ringgit gained marginally to 4.7335/7400 against the greenback from Tuesday’s close of 4.7350/7390. Bank Muamalat Malaysia Bhd … Read more
[ KUALA LUMPUR: Bank Negara Malaysia (BNM) today dismissed the inaccurate ringgit exchange rate data circulating on social media based on an erroneous USD/RM exchange rate published by Google on Friday, March 15. “This is an inaccurate information that does not reflect the actual trading,” the central bank said in a statement. Yesterday, the ringgit … Read more
[ KUALA LUMPUR: The ringgit continued to strengthen against the US dollar today after the US Dollar Index (DXY) retreated in anticipation of easier monetary policy in the United States (US) this year, an economist said. At 6 pm, the ringgit rose to 4.7025/7080 against the greenback compared with yesterday’s close of 4.7295/7350. Bank Muamalat … Read more
[ KUALA LUMPUR: Malaysia’s economic growth slowed to 3% in the fourth quarter of 2023, with exports remaining subdued over the quarter on prolonged weakness in external demand. The country’s gross domestic product (GDP) was lower than 3.3% growth registered in the previous quarter, disappointing market expectations. READ ALSO: Economy expected to grow 3.4% in … Read more
[ KUALA LUMPUR: Bank Negara has addressed an error in the exchange rate for the ringgit against the US dollar published by Google on Feb 5, 2024. The central bank said in a statement the exchange rate for the US$/RM was misreported on Google as 6.24. A check on the search engine showed the exchange … Read more
[ KUALA LUMPUR: The ringgit eased against the US dollar at the close of trading today in line with regional currencies amid uncertainty over a US interest rate cut. At 6 pm, the ringgit slipped to 4.7280/7350 against the greenback compared to Tuesday’s closing of 4.7265/7290. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam … Read more
[ PETALING JAYA: AEON Credit Service (M) Bhd’s associated company, AEON Bank (M) Bhd, has obtained approval from Bank Negara Malaysia and the Finance Ministry to commence its digital banking operations in Malaysia. In a statement, the group said this positions AEON Bank as the first Islamic digital bank in Malaysia. “The approval was granted … Read more
