Recently, Bank Negara Malaysia (BNM) announced that motor insurance premiums will be gradually increased starting from 2012 until 2015. The premium adjustments will only apply to the bodily injury portion of motor insurance, which will be de-tariffed and liberalized in 2016.
The actual quantum of increase is still under review by BNM but from the preliminary data from BNM, the following are the estimated annual premium hike for motor insurance from 2012 to 2015,
Credit card users are encourage to disipline themself when spending and make their monthly payment promptly. This is because credit card interest rates for outstanding balance is very high. The best practise is to make full payment on all outstanding balance every month.
Most banks in Malaysia offered tiered interest as per Bank Negara Malaysia (BNM) credit card interest rate structure which last revised in March 2009.
The tiered interest rate structure rewards those who pay their credit card bills promptly. Below are the details on tiered credit card interest rate structure.
With immediate effect, Bank Negara Malaysia (BNM) reduces the maximum loan-to-value (LTV) ratio to 70% instead of normally as much as 90% from the value of the property.
The limit will be applicable to the third house financing facility taken out by a borrower. However, first and second home buyers are not affected by this new rules. They will continue to be able to obtain financing for their purchases at LTV of 90%
The measure aims to support a stable and sustainable property market, and promote the continued affordability of homes for the general public.
Bank Negara Malaysia (BNM) was issuing 2 new Commemorative Coins in conjunction with the 50th Anniversary of the Proclamation of the Bunga Raya as the National Flower and 125th Anniversary of Jabatan Ukur Dan Pemetaan Malaysia. Both Commemorative Coins issued on 30th September 2010 and 14th October 2010 respectively.
Three types of commemorative coins issued by BNM on respective anniversary. They are as below,
Gold Commemorative Coin (proof)
This proof coin is made of gold with 999.9 purity and weighs 7.96 grams. It has a face value of RM100 and will be sold at RM1,200 a piece. The mintage quantity is limited to 150 pieces for each anniversary.
The Securities Commission Malaysia (SC), Bank Negara Malaysia and Bursa Malaysia recently introduced the Electronic Share Payment facility (e-share) for share transactions.
e-Share Payment is a service provided by all stockbrokers to pay the share sales proceeds directly into your bank account as well as providing an option for you to initiate payment for share purchases via electronic fund transfers. e-Share Payment eliminates the need to bank-in the cheques received from the sale of shares and also enable you to make online payments anytime from the comfort of your home.
Similar to eDividend launched in April this year, one of the main objectives of implementing e-Share Payment is to promote greater efficiency of the payment system which is aligned to the national agenda of migrating to electronic payment.