Latest news with #BankNegaraMalaysia
Malaysiakini
2 hours ago
- Business
- Malaysiakini
Heed BNM's wage reform call before expanding SST, urges ex-DAP MP
Former DAP MP Charles Santiago has urged Putrajaya to take heed of Bank Negara Malaysia's urgent call for wage reforms before expanding the scope for the Sales and Service Tax (SST). Charles referenced the central bank's deputy governor Marzunisham Omar's remark that controlling inflation alone is insufficient to alleviate cost-of-living pressures, as stagnant wage growth remains a concerning issue. "Is Bank Negara sending...
The Sun
3 hours ago
- Business
- The Sun
BNM's international reserves rise to US$119.9b
KUALA LUMPUR, June 20 (Bernama) -- The international reserves of Bank Negara Malaysia (BNM) increased marginally to US$119.9 billion (US$1=RM4.24) as at June 13, 2025, from US$119.60 billion recorded as at May 30, 2025. In a statement today, the central bank said the reserves position is sufficient to finance 5.0 months of imports of goods and services, and is 0.9 times the total short-term external debt. The main components of the reserves were foreign currency reserves (US$106.7 billion), the International Monetary Fund reserve position (US$1.3 billion), special drawing rights (SDRs) (US$5.8 billion), gold (US$3.8 billion) and other reserve assets (US$2.3 billion). Total assets amounted to RM630.55 billion, comprising gold and foreign exchange and other reserves, including SDRs (RM531.12 billion), Malaysian government papers (RM12.91 billion), deposits with financial institutions (RM4.26 million), loans and advances (RM27.08 billion), land and buildings (RM4.58 billion), and other assets (RM50.57 billion). BNM said total capital and liabilities amounted to RM630.55 billion, comprising paid-up capital (RM100 million), reserves (RM194.93 billion), currency in circulation (RM172.73 billion), deposits by financial institutions (RM127.93 billion), federal government deposits (RM10.53 billion), other deposits (RM82.23 billion), Bank Negara papers (RM10.55 billion), allocation of SDRs (RM28.38 billion), and other liabilities (RM3.13 billion).
Barnama
3 hours ago
- Business
- Barnama
BNM's International Reserves Rise To US$119.9 Bln
KUALA LUMPUR, June 20 (Bernama) -- The international reserves of Bank Negara Malaysia (BNM) increased marginally to US$119.9 billion (US$1=RM4.24) as at June 13, 2025, from US$119.60 billion recorded as at May 30, 2025. In a statement today, the central bank said the reserves position is sufficient to finance 5.0 months of imports of goods and services, and is 0.9 times the total short-term external debt. The main components of the reserves were foreign currency reserves (US$106.7 billion), the International Monetary Fund reserve position (US$1.3 billion), special drawing rights (SDRs) (US$5.8 billion), gold (US$3.8 billion) and other reserve assets (US$2.3 billion).
New Straits Times
4 hours ago
- Business
- New Straits Times
Bank Negara's international reserves rise to US$119.9bil
KUALA LUMPUR: The international reserves of Bank Negara Malaysia (BNM) increased marginally to US$119.9 billion (US$1=RM4.24) as at June 13, 2025, from US$119.60 billion recorded as at May 30, 2025. In a statement today, the central bank said the reserves position is sufficient to finance 5.0 months of imports of goods and services, and is 0.9 times the total short-term external debt. The main components of the reserves were foreign currency reserves (US$106.7 billion), the International Monetary Fund reserve position (US$1.3 billion), special drawing rights (SDRs) (US$5.8 billion), gold (US$3.8 billion) and other reserve assets (US$2.3 billion). Total assets amounted to RM630.55 billion, comprising gold and foreign exchange and other reserves, including SDRs (RM531.12 billion), Malaysian government papers (RM12.91 billion), deposits with financial institutions (RM4.26 million), loans and advances (RM27.08 billion), land and buildings (RM4.58 billion), and other assets (RM50.57 billion). BNM said total capital and liabilities amounted to RM630.55 billion, comprising paid-up capital (RM100 million), reserves (RM194.93 billion), currency in circulation (RM172.73 billion), deposits by financial institutions (RM127.93 billion), federal government deposits (RM10.53 billion), other deposits (RM82.23 billion), Bank Negara papers (RM10.55 billion), allocation of SDRs (RM28.38 billion), and other liabilities (RM3.13 billion).
Free Malaysia Today
6 hours ago
- Health
- Free Malaysia Today
Just 1% of Account 2 funds will be used in voluntary insurance scheme
The government is considering allowing contributors to use their EPF Account 2 to pay for their health insurance premiums. PETALING JAYA : The proposal to allow contributors to use their EPF Account 2 to pay for their health insurance premiums would only involve 1% of the funds in the account, says health minister Dzulkefly Ahmad. Dzulkefly reiterated that the proposed scheme would be voluntary and not mandatory for all EPF members, Bernama reported. 'Through this approach, the government hopes to expand access to faster, higher-quality private healthcare without increasing the financial burden on the people. 'It doesn't come out of their pockets. Only about 1% of their EPF Account 2 would be used to pay for insurance. This is the best way,' he was quoted as saying. Yesterday, Dzulkefly said Putrajaya was considering the proposal which would benefit 16 million EPF members. He said 32% of the total healthcare costs in Malaysia were paid out-of-pocket by patients without insurance protection. Funds saved in EPF Account 2 are accessible for education, healthcare, housing, and a partial withdrawal at age 50. For health withdrawals, they are limited to treatment costs for illnesses approved by EPF, the purchase of healthcare equipment, and fertility treatments. Bank Negara Malaysia previously called on insurers and takaful operators to review their repricing strategies for more 'reasonable implementation' after reports of a 40% to 70% hike in medical insurance premiums this year. Insurers and takaful providers said the increased premiums were 'unavoidable' in light of rising claims and medical inflation.
