Malaysia

AML / KYC

Hong Leong Bank Launches Digital Account Opening

By Editors | 08/10/2020

Hong Leong has become the first Malaysia bank to launch “fully digital” account opening, just three months after BNM’s new e-KYC guidelines took effect.

Crypto / Digital Assets

Malaysian MSMEs Cross MYR 1bn Crowdfunding Mark

By Sanday Chongo Kabange | 06/10/2020

The SC highlighted a “considerable increase” in investor participation in markets via digital investment managers, ECF and P2P platforms, digital asset exchanges and online brokers.

Capital / Liquidity

BNM to Allow Banks to Add-back ECL to CET1 Capital

By Manesh Samtani | 29/09/2020

Banks which elect to apply the transitional arrangements are allowed to add back a portion of Stage 1 and Stage 2 provisions for ECL to CET1 capital.

Securities / Derivatives

Malaysia Extends Margin Financing Flexibilities to Year-end

By Editors | 29/09/2020

The temporary margin financing relief measures due to expire on 30 September will be extended to 31 December 2020.

Market Infrastructure

Malaysia Completes First KLIBOR-SOFR Cross-currency Basis Swap

By Editors | 23/09/2020

The USD 100 million trade was the first MYR – USD cross-currency transaction referencing the USD SOFR, which will replace USD LIBOR.

Securities / Derivatives

Malaysia Launches Physically Delivered MGS Futures Contract

By Editors | 21/09/2020

The revised contract will enhance risk management at FIs and allow them to hedge interest rate risks, while also providing new trading opportunities for other market participants.

ESG / Sustainability

Malaysian FIs to Pilot Implementation of Climate Risk Taxonomy

By Manesh Samtani | 16/09/2020

This month, 12 financial institutions will commence a pilot to implement a principles-based taxonomy for classifying climate risk, one of a number of initiatives to build climate resilience.

Enforcement

Bursa Malaysia Suspends Prop Trader For Order Book Manipulation

By Sanday Chongo Kabange | 10/09/2020

The trader placed buy orders at multiple price levels to induce other participants into the market and facilitate his own disposal of the shares at higher prices.

AML / KYC

US Recovers $60m in 1MDB Funds from Najib Razak’s Stepson

By Editors | 06/09/2020

The assets recovered include luxury real estate in Beverly Hills, New York and London, a Kentucky maintenance company, and a 1927 promo poster for the film “Metropolis”.