Quotes For You

  MBSB  Group  is  pleased  to  announce  the appointment of Kuldeep Singh as the Group’s Head of Wholesale Banking.  Kuldeep brings with him a distinguished career spanning over 20 years in Wholesale Markets.  He  began  his  journey  in  Malaysia  and  has  since  held  senior  roles  at  the  country, regional, and global levels with Citigroup.  Throughout his career, Kuldeep has been widely  recognized  for  his  expertise  in  product  innovation,  profitable  macro  risk management,  reengineering  global  FX  business  practices,  and  spearheading proprietary fintech investment in the region.  His responsibilities have extended across various markets, including Hong Kong, ASEAN, Bangladesh, Sri Lanka, Singapore, Jakarta, London, and New York.  Kuldeep has also had ext...

Bank Negara Malaysia or BNM’s premature policy rate normalisation has not helped to stem the depreciation of the ringgit to the US dollar but may harm borrowing costs, hinder business expansion and hamper sustainable economic growth. Strengthening the value of the ringgit were amongst the reasons cited by those defending the 25 basis points hike in the Overnight Policy Rate(OPR) on 3 May by BNM. It is noteworthy that in a space of three weeks, the value of the ringgit has dropped from RM4.45 on 3 May to RM4.58 today. To date many businesses affected by the drop in the value of the ringgit are still awaiting BNM’s response. Bank Negara’s main argument for the OPR hike is the need to rein in core inflation and implement policy rate normalisation following full economic recovery from the COVID-19 pandemic. There is genuine concern whether the latest OPR hike will affect sustainable economic growth, making it difficult for Malaysia to repeat the encouraging 5.6% first quarter GDP growth in...

Kuala Lumpur, Malaysia 27 March 2020 – RHB Banking Group (“RHB”) announced that it will not be compounding interest during the six-months repayment deferment for banking facilities (“Moratorium”) that was announced by Bank Negara Malaysia on 25 March 2020. This will, however, be applicable to Retail and SME customers only and will take effect from 1 April 2020. For Islamic financing, RHB will continue to observe the principle of no compounding of profit. The Moratorium will apply automatically to all RHB Bank and RHB Islamic Retail and SME customers, with the exception of loans/financing facilities that are in arrears exceeding 90 days as on 1 April 2020. Key highlights of the Moratorium are as follows: The Moratorium will take effect from 1 April 2020, for a period of 6 months; Customers who do not wish to avail of the Moratorium may simply continue to pay their regular instalments; As an additional benefit, interest for all Retail and SME banking facilities will no...