25/08/2025

MONDAY | AUG 25, 2025

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BANKING & INSURANCE

Innovations Sdn Bhd to co-develop digital health and wellness solutions for healthtech SMEs. The partnership positions CIMB as both an ecosystem enabler and innovation partner, driving tech nology-led financial solutions across high-growth sectors. Formed as part of CIMB’s Digital Labs Innovation Programme, the partnership is designed to embed financial services within the digital platforms used by SMEs. Remedi is a certified provider of electronic medical records and digital health solutions which offers a cloud based clinic management system that enables healthcare providers to opti Alliance Bank Visa Virtual Credit Card wins award for third year running Bank Malaysia Bhd picked up the Open Banking Initiative of the Year Award at the Asian Banking and Finance Retail Banking Awards for the third con secutive year. The accolade provides recognition to the bank once again for its commitment to deliver innovative, secure and customer-focused digital solutions through its Visa Virtual Credit Card (VCC). The first of its kind in Southeast Asia, the VCC is Alliance Bank’s answer to modern, tech-savvy customers who are increasingly favouring mobile banking and privacy. Developed with customers’ needs in mind, the VCC delivers secure and cus tomer-centric digital banking solutions with robust security features such as the Dynamic Card Number (DCN). This innovative feature generates a random 16-digit card number that changes every 30 minutes to minimise the risk of fraud. Flexibility is another aspect that the VCC excels in, with its real-time issuance, making it an ideal payment solution for online transactions and subscription based services. Customers can control the spending limit of the VCC and manage its settings through the allianceonline mobile app, providing them a seamless experience when performing transactions with the VCC. Alliance Bank Group chief consumer banking officer Gan Pai Li said, “At Alliance Bank, we know customers today want simple, fast, and secure ways to pay, and that is exactly what our VCC offers. Whether it’s shopping online, paying for subscriptions, or managing expenses, the VCC makes it easy and safe, all from the mobile app. We are happy to see more customers embracing this convenience, and we will keep innovating to make digital payments even better for them.” Alliance Bank’s credit card base has doubled over the past two years, reflecting the VCC’s strong market accep tance and the rapid growth in customer adoption. As part of Alliance Bank’s commitment to innovation and enhancing the cus tomer experience, the bank has partnered with Samsung and Google to enable contactless payment. PETALING JAYA: Alliance

Big step forward in M’sian Islamic finance innovation

PETALING JAYA: HSBC Amanah Malaysia Bhd and Standard Chartered Saadiq Malaysia have executed a sustainable sale and buy back agreement (SBBA) trans action for RHB Islamic Bank Bhd under an enhanced syariah compliant framework. The deal, which is a first in the country, represents a significant achievement in Islamic sustain able finance innovation. The initiative highlights the strength of industry collaboration under the enabling regulatory environment fostered by Bank Negara Malaysia and reflects the country’s commitment to sup porting the development of the sustainable Islamic finance land scape. A SBBA is an Islamic financial instrument used to source and provide funding for liquidity management in the Islamic Interbank Money Market (IIMM). In April, RHB Islamic Bank

EMR platform.” By removing the complexity of managing separate financial and operational systems, he added, they are enabling healthcare providers to focus entirely on what they do best – caring for their patients. “This collaboration transforms how healthcare SMEs operate, offering them the convenience of streamlined procurement, payments, and business management tools within the ecosystem they already trust. “Together with CIMB, we’re not just advancing digital transformation; we’re creating an integrated infra structure that prioritises both pro vider efficiency and patient care outcomes, ultimately strengthening Malaysia’s entire healthcare SME landscape,” Khairul Faizi said. The sustainable SBBA mirrors the structural rigour of the global master repurchase agreement commonly used in conventional markets, while ensuring full syariah compliance. By aligning Islamic finance instruments with global best practices in sustainability and risk management, the initiative demonstrates Malaysia’s commit ment to innovation and integrity. With the execution of this transaction, RHB Islamic, HSBC Amanah and Standard Chartered Saadiq Malaysia are paving the way for broader adoption of sus tainable liquidity solutions in Islamic finance, enabling institutions to efficiently allocate capital towards impactful sustainable outcomes, both locally and globally. boration among the three banks to establish a sustainable SBBA financing structure, showcases the Malaysian Islamic banking in dustry’s commitment to crafting innovative Islamic financial market solutions, that cater to changing needs and evolutions within the sector. “At HSBC, our deep under standing of client requirements and regulatory frameworks along with our global structuring capabilities, play a pivotal role in connecting clients to unique Islamic financing opportunities within a dynamic business environment”. Standard Chartered Saadiq Malaysia CEO Bilal Parvaiz said, “Ethical banking is a key pillar of Saadiq, and with Islamic financing being rooted in ethical and sustainable principles, it offers a powerful vehicle for advancing the ESG movement. This landmark transaction fulfils our aspiration to provide banking solutions that adhere to the principles of Islamic finance by aligning syariah principles with environmental stewardship for a more resilient and equitable future, while meeting the evolving needs of clients.”

o HSBC Amanah and Standard Chartered Saadiq execute sustainable sale and buyback agreement transaction for RHB Islamic Bank

actions, moving beyond single-use sustainable deals towards a re peatable and scalable model. RHB Islamic managing director Datuk Adissadikin Ali said, “This transaction sets a new benchmark for Islamic sustainable finance, showcasing how syariah prin ciples can be harmonised with global sustainability standards. Through this collaboration, we are unlocking new liquidity tools to fund green and social initiatives, and reinforcing our commitment to our new strategy, PROGRESS27, as we continue our journey as a purpose-driven Islamic bank.” HSBC Amanah CEO Raja Amir Shah Raja Azwa said, “The colla

completed a RM120 million sus tainable SBBA transaction with HSBC Amanah and Standard Chartered Saadiq Malaysia res pectively, each for tenors of up to one year. These transactions enable RHB Islamic Bank to obtain efficient funding secured by high quality syariah-compliant sovereign securities. The sustainable SBBA is under pinned by an enhanced master SBBA framework jointly adopted by RHB Islamic, HSBC Amanah and Standard Chartered Saadiq Malaysia, introducing a stan dardised approach to incor porating sustainability elements across all eligible SBBA trans

From left - Raja Amir Shah, Bank Negara Malaysia deputy governor Adnan Zaylani Mohamad Zahid, Adissadikin, BNM assistant governor Mohamad Ali Iqbal Abdul Khalid, and Bilal Parvaiz, at the signing ceremony for Malaysia’s first sustainable SBAA transaction.

CIMB Bank, Remedi to co-develop solutions for healthcare SMEs PETALING JAYA: CIMB Bank Bhd has signed a memorandum of under standing (MoU) with Remedi mise clinic operations and enhance patient care. line with this vision, we launched our Digital Labs Innovation Programme, and we are pleased to welcome Remedi as our first partner. ating innovation across the healthcare industry,” Loh said.

Together with the recent MoU signed with Pharmaniaga Bhd, the partnership with Remedi comple ments CIMB’s value-added financing for SMEs in the healthcare supply chain and reflects a holistic approach to supporting the sector through integrated, needs-based financial solutions. Remedi Innovations managing director Dr Khairul Faizi Khalid said, “At Remedi, our true north has always been enhancing digital healthcare with innovations, putting healthcare providers’ convenience and patient healthcare first. This partnership perfectly embodies that vision by seamlessly integrating comprehen sive financial services directly into our

Banking & Finance CIMB Group commercial and transaction banking co-CEO Lawrence Loh said, “At CIMB, we are reimagining how financial services can be delivered more seamlessly to SMEs by embedding them within the digital ecosystems they already operate. In Through their collaboration, CIMB and Remedi will co-develop em bedded financial solutions directly within Remedi’s digital infrastructure that is tailored to the needs of Remedi’s clients – which include clinics, healthcare providers and pharmaceutical suppliers. With the rollout, the bank plans to on board more digital providers nationwide to accelerate the growth of the healthtech industry.

“Healthcare is a high-potential growth sector in Malaysia, and we see significant opportunity to support its digital transformation.” Through this partnership, they aim to help healthcare SMEs streamline operations, improve financial man agement and ultimately, focus on delivering better care. “This collaboration reflects our commitment to offering practical, sector-specific solutions that help SMEs digitalise, scale sustainably and build long-term resilience. By embed ding financial services into our partners’ platforms, we are bridging the digital adoption gap and acceler

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