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BNM, PayNet Participate In Proof-Of-Concept To Explore Cross-Border Payments With Singapore And Euro Area
- 10th November 2021
Bank Negara Malaysia (BNM) has revealed that it is collaborating with several international partners in a proof-of-concept dubbed […]
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BNM
BNM Maintains OPR At 1.75% At Final 2021 MPC Meeting
- 3rd November 2021
The Monetary Policy Committee (MPC) of Bank Negara Malaysia (BNM) has opted to maintain the overnight policy rate […]
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BNM Issues Two Commemorative Coins In Conjunction With SOCSO’s 50th Anniversary
- 29th October 2021
Bank Negara Malaysia (BNM) has issued two commemorative coins to celebrate the 50th anniversary of the Social Security […]
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BNM
BNM’s Shariah Advisory Council Declares No Compounding Profit For Islamic Financing Under R&R
- 27th October 2021
The Shariah Advisory Council (SAC) under Bank Negara Malaysia (BNM) has officially made a ruling regarding the treatment […]
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BNM Restores CCRIS Access For Credit Reporting Agency Experian
- 26th October 2021
Experian Information Services has received approval from Bank Negara Malaysia (BNM) to once again access the Central Credit […]
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BNM Seeks To Improve Efficiency Of Motor Claims Process
- 22nd October 2021
Bank Negara Malaysia (BNM) has commented that it is looking to improve the efficiency of the motor claims […]
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PM Announces Urus Programme To Assist B50 Borrowers, Applications To Begin On 15 Nov 2021
- 14th October 2021
Prime Minister Datuk Seri Ismail Sabri Yaakob has announced the launch of the Financial Management and Resilience Programme […]
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Report: Card Payments Market Forecasted To Rebound By 8.5% In 2021
- 12th October 2021
Data analytics company GlobalData said that Malaysia’s card payments market is set to rebound by 8.5% in 2021 […]
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Banks Submit Counter Proposal To Government’s Interest Waiver Directive On Moratorium
- 8th October 2021
Malaysian banks have drafted a counter proposal in response to an earlier directive made by the government to […]
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BNM
MyMy Partners Mastercard To Include Physical And Virtual Prepaid Cards As Offerings
- 7th October 2021
Homegrown e-wallet service provider MyMy Payments Malaysia has obtained a principal membership with Mastercard, which allows MyMy to […]
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Islamic Credit Cards Switching to Tawarruq Contract
- 9th January 2026
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Islamic Credit Cards Switching to Tawarruq Contract
Farah Awanis
- 9th January 2026
Between October 2025 and January 2026, Islamic banks in Malaysia transitioned Islamic credit cards from Ujrah to Tawarruq contracts. This guide explains how Tawarruq works, why the industry made the switch, and what cardholders need to know now that all conversions are complete.