Signs of a New Financial Storm in September

Dubai calls on the Rothschild bank for help, perhaps out of desperation. In Saudi Arabia a Saad Group company defaults. US, European and Asian banks are struggling. The end of Ramadan in September might mark the start of an economic depression worse than that of the 1930s.

Rothschild’s Dubai office has been retained by Dubai’s Department of Finance for advice on the US$ 10 billion financial support fund (FSF) the emirate raised on the bond markets.

Nakheel, the property development arm of Dubai World, was the first to benefit, but is likely to be the last of its kind because funds will be handed out on the basis of two criteria: urgency and strategic importance.

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Overseas Transaction Fees for Malaysian Credit Cards

credit cards

Foreign exchange fees on credit cards should be of keen interest to those traveling outside Malaysia. However, the most important is the overseas transaction fees that your card-issuing banks may impose.

Normally for foreign exchange, transaction made outside Malaysia will be converted to US Dollar, which is determined by Master Card or VISA International or AMEX on the date the transaction received and/or processes by the Bank. The value of US Dollar is then converted to Ringgit Malaysia. The exchange rates may vary according to market fluctuations.

For overseas transaction, most card-issuing banks impose overseas transaction fees on all transaction made outside Malaysia.

As of now card-issuing banks revealed the following overseas transaction fees:
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Exclusive HSBC Credit Card Online Promotion


HSBC Malaysia is launching an online application credit card promotion for new credit card customer. With this promotion, new customers who get their gold credit card applications approved will received 5% cash rebate on their first 10 swipes.

This promotion is valid until 31st December 2009. In order to entitle for 5% cash rebate all you have to do is apply online for gold credit card either VISA or Mastercard. Once the application is approved, activate the card and start spending. You will received 5% cash rebate on the first 10 swipes. The cash rebate is limited to RM100 only.

Below are the details about this promotions,

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Fabulous Discount & Cash Rebates with CIMB & Directaccess Credit Card


Just a few days after launching CIMB Smart Flexi-Pay Plan promotion, CIMB strike again with CIMB Smart Rewards campaign. With this campaign CIMB and Direct Access Credit Card user will enjoy very attractive up to 20% discount everyday and up to 10% cash rebate every Sunday on selected merchant.

20% everyday discount campaign will end 31st December 2009 while 10% every Sunday cash rebate will end 30th September 2009. To enjoy this fabulous offer, all you have to do is charge your CIMB or Direct Access Credit Card at the selected merchant. Below are the details on which merchants are selected and how much benefit you will gain,

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CIMB Smart Flexi-Pay Plan


CIMB Bank recently launch CIMB Smart Flexi-Pay Plan promotion. With this promotion CIMB Credit Card user will enjoy a smart way to pay their credit cards bill. Customers bill that arise from education, insurance or hospital bills will be able to use this promotion. With CIMB Smart Flexi-Pay Plan, customers will enjoy a flexible 10-months repayment period at absolutely zero interest and no-upfront cost for any of these bills.

This special plan is available from 15th May to 31st December 2009 and there is no minimum or maximum amount restriction. To participate in this promotion program CIMB credit card users need to complete these 2 simple steps,

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