27/07/2026

MONDAY | JULY 27, 2026

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BANKING & INSURANCE

Exim Bank widens reach of Mawaddah Initiative

UOB Malaysia aims to double affluent customer base by 2028 PETALING JAYA: UOB Malaysia plans to double its affluent customer base by 2028, elevating its wealth proposition to meet rising income levels, increasing financial sophistication and evolving client expectations. Findings from Boston Consulting Group’s Global Wealth Report 2026 highlight that while the affluent and emerging high-net-worth segment is expanding rapidly in markets such as Malaysia, it remains underserved in terms of advisory access and support. A significant share of wealth is still concentrated in deposits reflecting limited access to advisory-led investment solutions. Leveraging the bank’s deep Asean connectivity, UOB Group said it is well positioned to serve this segment, supported by S$210 billion (RM653 billion) in assets under management (AUM) across its retail banking business. In Malaysia, the bank has seen a strong momentum in its affluent wealth business, with invested AUM growing 30% since 2024, driven primarily by strong delivery of its fixed-income solutions, reflecting the bank’s disciplined wealth advisory approach. UOB Malaysia has also seen a growing number of its affluent clients diversify a greater share of their savings and investable assets into investment solutions, underscoring increasing confidence in the bank’s advisory capabilities and its ability to protect and grow their wealth through a portfolio-based approach. Personal financial services country head Elaine Fan said, “Malaysia’s investment culture is evolving rapidly, and there remains a clear gap between what clients need and what traditional banking models typically offer. “Our focus is on bridging that gap by strengthening relationships with our clients and supporting them with the right advice as they transition towards more diverse, long-term wealth strategies. “Our enhanced Privilege Banking proposition is anchored in trusted, advisory-led engage ment, underpinned by our strong regional network and investment expertise.” To support the growing demand for portfolio-focused advisory and access to diverse investment offerings, UOB Malaysia has enhanced its Privilege Banking proposition built on three core pillars – values-led wealth advisory supported by expert insights from its Private Bank Chief Investment Office, guidance through a single point of contact, and priority access to lifestyle and health privileges. The bank’s proprietary Wealth Advisory Approach is guided by three enduring values – responsibility, prudence and excellence. These values reflect the bank’s long-standing philo sophy of helping clients achieve their long term wealth goals by safeguarding what they have built, while growing it steadily for the future. This is delivered through expertise in building a well-diversified and resilient portfolio designed to generate consistent income, pre serve capital and capture market opportunities for growth. Through regular portfolio reviews, clients get access to in-depth insights from the bank’s industry-recognised, regional Private Bank Chief Investment Office, helping them navigate global developments and market trends in shaping their investment decisions. Privilege Banking clients receive personal advisory, guidance and servicing support from a single dedicated client adviser, backed by an assigned team of wealth specialists across investments, treasury, insurance and mort gages.

o Joins hands with Malaysian Federation of the Deaf for

PETALING JAYA: Export-Import Bank of Malaysia Bhd (Exim Bank), a subsidiary of Bank Pembangunan Malaysia Bhd (BPMB) Group, has channelled more than RM2 million through its Mawaddah Initiative over the past three years, empowering over 500 benefi ciaries nationwide through entrepreneurship, financial assistance and community develop ment programmes. Grounded in the principles of “Serving with Faith, Giving with Purpose”, the Mawaddah Initiative continues to advance inclusive socio economic development. Building on this momentum, Exim Bank and the Malaysian Federation of the Deaf (MFD) joined hands to organise the three-day Entrepreneurship Carnival early this month at Exim Bank’s headquarters, reflecting a shared commitment to empowering entrepreneurs and expanding opportunities for underserved communities. Exim Bank president and CEO Datuk Nurbayu Kasim Chang said, “We believe inclusive economic growth begins with creating opportunities for every segment of society. Through the Mawaddah Initiative and our partnership with MFD, we are em powering underserved entrepreneurs to build sustainable businesses and contribute mean ingfully to Malaysia’s economic development. “As Exim Bank’s Islamic social finance plat form, the Mawaddah Initiative will continue strengthening strategic collaborations that deliver measurable development impact, guided by the principles of Value Based Intermediation and aligned with Bank Negara Malaysia’s Performance Measurement Framework.” The Entrepreneurship Carnival builds on the momentum of the Mawaddah Initiative, Exim Bank’s Islamic social finance platform dedicated to advancing sustainable and inclusive development through entrepre neurship, education, healthcare, humani tarian assistance and strategic partnerships. Entrepreneurship Carnival to empower community

Exim Bank COO Hasrin Abdul Rahim (left) and Malaysian Federation of the Deaf executive director Mohamad Sazali Shaari officiating the Mawadah Initiative’s Entrepreneurship carnival,.

Beyond this, Mawaddah also supports collaborative Islamic social finance pro grammes across the BPMB Group, including SME Bank’s iTekad Ishrad 4.0. From 2025 to 2026, the programme is supporting about 420 asnaf entrepreneurs nationwide through RM9 million in funding, comprising Bank Negara Malaysia’s iTekad matching grants and crowd in contributions from BPMB, Exim Bank and other strategic partners. SME Bank’s Centre for Entrepreneur Development and Research serves as the programme’s business coach, providing training in marketing, digitalisation, financial management and business operations. The Entrepreneurship Carnival featured about 10 booths showcasing businesses led by deaf entrepreneurs across the food and beverage, retail, handmade products and beauty sectors. Attracting more than 400 visitors, the carnival provided participating entrepreneurs with greater market exposure, networking opportunities and access to potential customers. The event was attended by Exim Bank’s senior management, members of the Mawa ddah Committee, representatives from MFD, strategic partners and other stakeholders, reflecting a shared commitment to advancing inclusive entrepreneurship and socio eco nomic development.

Since 2023, the initiative has delivered more than 10 strategic programmes and partnerships, benefitting over 500 individuals nationwide through entrepreneurship development, financial assistance, community outreach and Islamic social finance. Key initiatives include entrepreneurship development for the deaf community in collaboration with MFD, halal ecosystem development with Halal Development Corpo ration, poultry economic empowerment with MyFundAction, Islamic financial literacy programmes delivered with the Islamic Banking and Finance Institute Malaysia, Kolej Profesional Baitulmal Kuala Lumpur , Kolej Islam Teknologi Antarabangsa Pulau Pinang , alongside educational assistance, healthcare contributions and humanitarian initiatives. Among its recent community initiatives, Exim Bank participated in the Program Santunan Kasih at Pusat Jagaan Mahmudah , Semenyih, and Pusat Jagaan Nur Hasanah , Beranang, organised by the Ministry of Investment, Trade and Industry (Miti) and its agencies in collaboration with Puspanita Miti branch and Skuad Ihsan Madani Miti . Exim Bank also organised the Ihsan Banking Journey to Royal Belum, Gerik, Perak, where about 80 staff members engaged with Orang Asli families through outreach activities and the distribution of essential supplies.

CIMB rolls out financing solution for young, first-time car buyers PETALING JAYA: CIMB Bank Bhd has rolled out “First Car Solution”, which is aimed at providing first-time car owners with automotive financing at competitive rates, complemented by essential protection facilities, including insurance and takaful coverage, as well as credit cards. that may impact financial commitments, offered at a minimal cost to deliver greater peace of mind. A key benefit includes full payout of purchase price for a car in case of total loss, available with Purchase Price Gap (PPG) insurance. PPG covers the difference between motor insurance payout and the original purchase price of the vehicle. protection. “By addressing these practical consi derations upfront, we aim to support customers in making informed ownership decisions that are financially sustainable.”

CIMB Group consumer banking CEO Haniz Nazlan said, “We understand that, for young adults it is not just about owning a car, but it is also important to build a foundation for financial independence and security. The programme is designed to make that goal happen through a well-structured car ownership programme to help the buyer in planning for long-term financial wellbeing. By combining lifestyle benefits and protection plans, we’re helping the next generation build financial resilience and make sustainable financial choices whilst staying committed to our broader purpose of advancing customers and society.”

The solution is designed to assist customers aged 18 to 30 years old in managing their finances effectively through tailored financing and protection options. First-time car buyers will enjoy compli mentary road tax renewal for two years amounting to RM240, making CIMB the first bank in Malaysia to offer this value-added facility. The inclusion of insurance and takaful protection through bancassurance financing offers a safety net against unforeseen circumstances such as accidents or life events

CIMB Malaysia and CIMB Bank Bhd CEO Gurdip Singh Sidhu said, “Car ownership in Malaysia requires careful consideration, particularly for first-time buyers navigating competitive vehicle prices and balancing rising living costs. Beyond access to financing, buyers should ensure monthly commitments remain manageable over time. CIMB’s First Car Solution reflects CIMB’s approach to responsible lending by incorporating features that help reduce common cost pressures associated with car ownership, such as road tax and insurance

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