15/06/2026

MONDAY | JUNE 15, 2026

10

BANKING & INSURANCE

CIMB launches salary account with complimentary takaful

AmBank hosts session to boost S. Korea-Malaysia FDI partnerships PETALING JAYA: AmBank Group has reaffirmed its commitment to supporting foreign direct invest ment (FDI) from South Korea into Malaysia through the recent hosting of a one-stop financial support briefing and consultation session. This was jointly organised with key South Korean institutions and strategic partners, namely the Asean-Republic of Korea Financial Cooperation Centre, Korea Technology Finance Corporation (Kotec), and the South Korean embassy in Malaysia. The session brought together about 70 representatives from South Korean financial institutions, advisory firms, venture capitalists and business organisations to explore opportunities and financing solutions for South Korean com panies investing in Malaysia and those exploring market entry. The session also featured pre sentations by Korea Trade Insu rance Corporation, Woori Bank, Korean Investment Partners and NH Investment and Securities. The initiative also builds on AmBank’s collaboration with Woori Bank, following the signing of a memorandum of understanding in November 2025 to strengthen bilateral investment and trade between Malaysia and South Korea. AmBank Group business banking managing director Christopher Yap said,“At AmBank, we see ourselves as more than a financier. We are a long term partner to investors navi gating cross border expansion into Malaysia. Through initiatives like this, we aim to provide Korean companies with practical financial solutions, market insights, and access to a strong ecosystem that supports sustainable growth.” Kotec director-general Kwak Yongjoo said, “Kotec is committed to supporting the expansion of Korean companies’ investment and market entry into Malaysia by leveraging our proprietary techno logy appraisal system to enhance their access to financing. “Through collaboration with partners such as AmBank and Woori Bank, we aim to bridge the financing gap faced by Korean tech-SMEs with limited local credit history and facilitate cross-border investment flows, thereby contri buting to a more robust Korea Malaysia investment and economic cooperation.” Woori Bank Singapore Branch general manager Seung-Yong Yang said, “As Korean companies in creasingly look to Malaysia as a key destination for cross-border invest ment, Woori Bank’s Singapore Branch stands ready to support them with comprehensive financial solutions – including corporate banking, trade finance and treasury services. “Building on our MoU with AmBank, we are confident that combining our respective net works and expertise will deliver tangible value to Korean investors entering the Malaysian market.”

o Protection of up to RM200,000 covering 36 critical illnesses, death and total and permanent disability PETALING JAYA: CIMB Bank Bhd has launched a first-of-its-kind salary account linked with compli mentary takaful coverage under its CIMB@Work programme, reinfor cing its commitment towards encouraging financial resilience among the Malaysian workforce. The bank is offering salaried individuals practical and accessible ways to extend financial protection benefits without additional payment or administrative complexity through the programme. The new CIMB Salary Account provides takaful protection of up to RM200,000 covering 36 critical illnesses, including cancer, heart attack, Alzheimer’s disease, stroke, and kidney failure, and more. The takaful protection also includes coverage for death and total and permanent disability. No health screening or health declaration is required, except for exclusions relating to pre-existing conditions, providing easy enrolment with no contribution payments. To be eligible for the takaful protection, the account holder needs to maintain a monthly average balance (MAB) of at least RM2,500 to initiate protection, and an MAB at or Supported by CGC Digital (the fintech arm of Credit Guarantee Corporation Malaysia), the bank can offer higher financing limits of up to RM150,000. Additionally, GXBank accepts personal bank statements for business account applications and credit assessments. “Sole proprietors are the lifeblood of Malaysia’s economy, yet remain underserved. Since the launch of GX Business Banking, our data-driven underwriting has led to over a thousand GX FlexiLoan users and approximately 70% loan usage rate across our business banking portfolio,” said CEO Kaushik Chow dhury. “In just 30 days, our partnership with CGC Digital has seen over RM3.3 million in loan approvals, bridging the credit history gap through alternative data and digital guarantees. We are now further lowering barriers by accepting personal bank statements

Entrepreneur Development and Cooperatives Minister Steven Sim (left) and Haniz at the launch of CIMB Salary Account with complimentary takaful protection.

year, subject to terms and con ditions. In addition, account holders who wish to enhance their protection levels have the option to purchase up to RM300,000 additional critical illness and death coverage directly from Sun Life Malaysia Takaful. The exclusive, online-only offer will be available from July to December, and requires no medical underwriting, subject to exclusions relating to pre-existing conditions and terms and conditions. To be eligible for CIMB Salary Account, account holders must be between 18 and 69 years old, with their salary credited into the account.

with its numerous benefits empowers Malaysian employees to build structured financial protection through their salary accounts in a way that is simple, affordable and transparent, in line with our purpose of advancing customers and society.” In conjunction with the launch of CIMB Salary Account, CIMB will extend a time-limited exclusive offer to eligible customers to effectively double the takaful coverage amount they receive for critical illness. The offer is available until July, during which eligible customers who open a CIMB Salary Account will be entitled to the additional compli mentary coverage for a period of one

Banking & Finance She added that this collaboration with GXBank reflects their commit ment to advancing more inclusive and forward-looking financing models. “By integrating guarantee support within digital banking ecosystems, we are enabling financial institutions to serve segments that have traditionally been underserved, while giving MSMEs a more equitable path way to access growth capital,”Yushida said. The collaboration with CGC Digital introduces a digital-first guarantee that serves as the structural backbone for higher approved limits. With more than half of customers opting-in organically, this high early adoption rate underscores the clear demand for scalable credit as MSMEs move beyond micro-financing towards business expansion. “The future of MSME financing will not be built on collateral alone, it will be shaped by how effectively we understand businesses in the digital economy,” said CGC Digital CEO Yushida Husin. above this threshold to remain protected. The takaful coverage is under written by Sun Life Malaysia Takaful Bhd, a bancassurance partner of CIMB. CIMB Group consumer banking CEO Haniz Nazlan said, “With the CIMB Salary Account, we are simplifying access to protection for account holders by embedding takaful coverage directly into their salary accounts. At CIMB, we continue to prioritise our customers and strive to provide them with value-added services and best-in class experiences at all touchpoints while pursuing innovation in our offerings. The CIMB Salary Account

GX Bank widens MSME financing with CGC Digital’s support PETALING JAYA: GX Bank Bhd has enhanced its suite GX Business Banking, offering MSMEs a more flexible path to digital banking and financing. as income verification to help more entrepreneurs scale.”

Kaushik (left) and Yushida marking the collaboration.

Education News/Health & Wellness TUES

ESG

Property

WED

MON

THUR