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Malaysia's Finance Ministry and banking sector have agreed to eliminate the RM1 fee for interbank cash withdrawals effective July 1, addressing financial inclusion gaps particularly in rural communities with limited ATM infrastructure.
Malaysia's government is stepping up ground-level campaigns to promote RM5 billion in micro-financing available through state agencies, with Treasury officials acknowledging that awareness remains insufficient among target beneficiaries.
The Madani administration is intensifying collaboration with Bank Negara Malaysia and the banking industry to maintain financial stability while expanding affordable access to credit and supporting businesses affected by global economic headwinds.
Malaysia's MADANI government is partnering with Bank Negara Malaysia and the banking sector to enhance financial system stability through affordable credit products, fee reductions, and targeted MSME support amid global uncertainty.
Bank Negara Malaysia has unveiled the Semak Kasih portal, a digital platform enabling beneficiaries to identify unclaimed insurance policies and takaful certificates. The initiative targets approximately 50,000 unclaimed death benefits, addressing gaps in financial protection awareness among Malaysian families.
The Malaysian government has committed RM9.8 billion in microfinancing through six major institutions to help hawkers and small business owners access affordable capital, with direct outreach programmes now bringing lenders to grassroots traders.