KUALA LUMPUR, Apr 11 (Bernama) - The Housing and Local Government Ministry is drawing up the Consumer Credit Act which would ensure consumers get loans from syariah-compliant loan companies, the Dewan Rakyat was told today. Its minister Zuraida Kamaruddin said a townhall session was held with various government agencies to get their feedback o ...
Date: 11 April 2019; Type: Legal News; Source: Bernama
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PUTRAJAYA, Apr 10 (Bernama) - The Federal Court in a 5-4 majority decision held that Bank Negara Malaysia's Shariah Advisory Council’s (SAC) findings on Islamic finance is binding on Civil Courts.
Date: 10 April 2019; Type: Legal News; Source: Bernama
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KUALA LUMPUR, Apr 5 (Bernama) - Suria Strategic Energy Resources Sdn Bhd (SSER), a subsidiary of the Ministry of Finance which carried out two petrochemical and gas pipeline projects worth RM9.4 billion was today fined RM18 million by the Sessions Court here today for failing to comply with Bank Negara Malaysia (BNM) conditions.
Date: 05 April 2019; Type: Legal News; Source: Bernama
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KUALA TERENGGANU, Apr 5 (Bernama) - Bank Negara Malaysia (BNM) will continue to improve cooperation with the finance industry to ensure entrepreneurs who are qualified and in need can obtain financing.
Date: 05 April 2019; Type: Legal News; Source: Bernama
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KUALA LUMPUR, Apr 4 (Bernama) - The Dewan Rakyat today approved the supplementary budget of RM19.6 billion proposed by Finance Minister Lim Guan Eng. The approval came after the third reading of the Supplementary Supply Bill (2018) and a motion on the First Supplementary Development Expenditure 2018 in front of Speaker Datuk Mohamad Ariff Md Y ...
Date: 04 April 2019; Type: Legal News; Source: Bernama
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KUALA LUMPUR, Mar 27 (Bernama) - Bank Negara Malaysia (BNM) has called for a comprehensive reform of the country’s employment sector to attract quality investments that can generate more high-skilled jobs and offer better salaries. Governor Datuk Nor Shamsiah Mohd Yunus said currently, workers in Malaysia are not paid equitably despite p ...
Date: 27 March 2019; Type: Legal News; Source: Bernama
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KUALA LUMPUR, Mar 6 (Bernama) - The Securities Commission (SC) has permitted 22 companies to continue operating a digital asset exchange after March 1, 2019.
Date: 06 March 2019; Type: Legal News; Source: Bernama
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KUALA LUMPUR, Mar 6 (Bernama) - The Securities Commission Malaysia’s (SC) Audit Oversight Board (AOB) has banned McMillan Woods Mea (AF 001995) and two of its partners, Mea Fatt Leong and Wong Joo Hua, from accepting clients and auditing any public interest entities or schedule funds for 12 months, effective Feb 14, 2019.
Date: 06 March 2019; Type: Legal News; Source: Bernama
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KUALA LUMPUR, Feb 19 (Bernama) - Bank Negara Malaysia (BNM) will be launching its Risk Management in Technology policy in June this year to provide guidelines, especially for financial institutions, to combat the rise in cybercrime. CyberSecurity Malaysia chief executive officer Datuk Amirudin Abdul Wahab said more than 10,000 cases of cybercr ...
Date: 19 February 2019; Type: Legal News; Source: Bernama
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KUALA LUMPUR, Feb 11 (Bernama) - The Securities Commission (SC) is reviewing eight recommendations to spur the venture capital (VC) industry including making public VCs more commercially driven and liberalising VC tax incentives.
Date: 11 February 2019; Type: Industry Updates
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KUALA LUMPUR, Jan 31 (Bernama) - Five Colors Technologies Ltd has announced that new cryptocurrency, Five Colors Coin (FCC), is to become e-sports money and will be listed on CoinBene with the initial exchange offering (IEO) carried out today.
Date: 31 January 2019; Type: Industry Updates; Source: Bernama
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KUALA LUMPUR, Jan 31 (Bernama) - The Securities Commission (SC) has added a new chapter in the Guidelines on Recognised Markets to require digital asset platform operators to be registered as a recognised market operator. In a technical briefing to the media today, the SC said the new framework is part of its efforts to promote innovation whil ...
Date: 31 January 2019; Type: Legal News; Source: Bernama
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KUALA LUMPUR, Jan 30 (Bernama) - Bursa Malaysia Bhd has appointed Datuk Shireen Ann Zaharah Muhiudeen as public interest director and non-executive chairman to succeed Tan Sri Amirsham A Aziz, effective March 1, 2019.
Date: 30 January 2019; Type: Industry Updates; Source: Bernama
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KUALA LUMPUR, Jan 30 (Bernama) - The Securities Commission Malaysia (SC) has reprimanded and imposed penalties on Deloitte PLT (Deloitte) for four breaches related to the RM2.4 billion sukuk murabahah programme issued by Bandar Malaysia Sdn Bhd (BMSB) in 2014.
Date: 30 January 2019; Type: Legal News; Source: Bernama
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KUALA LUMPUR, Jan 29 (Bernama) - The Securities Commission Malaysia’s (SC) Audit Oversight Board (AOB) has reprimanded three auditors for failure to comply with the International Standards on Auditing when auditing their respective public-listed company clients.
Date: 29 January 2019; Type: Legal News; Source: Bernama
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KUALA LUMPUR, Jan 27 (Bernama) - The new order to regulate digital currencies and tokens as securities, which came into force on Jan 15 this year, is a shift in regulatory regime from both the Securities Commission (SC) and Bank Negara Malaysia, says an expert.
Date: 27 January 2019; Type: Legal News; Source: Bernama
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KUALA LUMPUR, Jan 15 (Bernama) - The Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019, which comes into force today, is a pragmatic approach by the authorities to regulate digital currencies and assets, says the World Bank. World Bank Group’s Macroeconomics, Trade and Investment le ...
Date: 15 January 2019; Type: Legal News; Source: Bernama
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KUALA LUMPUR, Jan 12 (Bernama) - The Ministry of Finance (MoF) will be implementing new operational hours at the Urban Transformation Centres (UTCs) starting Jan 22 as a measure to save public expenditure.
Date: 12 January 2019; Type: Industry Updates; Source: Bernama
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KUALA LUMPUR, Jan 12 (Bernama) - The government has yet to make a final decision whether to legalise the use of cryptocurrency and digital currency in the country.
Date: 12 January 2019; Type: Legal News; Source: Bernama
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KUALA LUMPUR, Jan 7 (Bernama) - The Employees Provident Fund (EPF) today announced that employers will, from now, make a minimum statutory contribution of four per cent for employees above 60 years old against the present practice of contributing 6.0 and 6.5 per cent. Employees' share contribution, on the other hand, will now be at zero per ce ...
Date: 07 January 2019; Type: Legal News; Source: Bernama
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