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when you put in the effort

Today, ADFIM had the privilege of attending a crucial engagement session between Bank Negara Malaysia and the Associations of Persons with Disabilities (PWDs). This session highlighted the proactive measures being taken to ensure that our financial ecosystem is inclusive and supportive of all, especially the vulnerable segments of our society. . Bank Negara Malaysia (BNM) is committed to achieving four key outcomes through its strategic framework: . 1. Ensuring access to affordable and suitable financial products and services. 2. Promoting the responsible use of financial products and services. 3. Encouraging financial innovation that delivers value for all. 4. Cultivating financially capable consumers with good financial health. . To meet these outcomes, BNM has outlined seven policy objectives and ten broad strategies aimed at addressing the gaps in financial inclusion. Notably, the PWD community is a significant focus within these strategies. . Key Initiatives for PWDs: . 1. Enhanced Framework for Fair Treatment: BNM has released a revised framework to ensure that vulnerable segments, including PWDs, are treated fairly by financial service providers. This framework includes guidelines on ensuring digital banking platforms are accessible and PWD-friendly. . 2. Comprehensive Data Collection: Accurate data on PWDs is crucial for effective policy implementation. BNM is working to enhance its data collection mechanisms to ensure robust monitoring and evaluation of the PWD segment. . 3. Financial Education Initiatives: Through the Financial Education Network, BNM collaborates with various organizations to develop financial literacy modules tailored for PWDs. For instance, in 2023, BNM partnered with the Malaysian Association for the Blind to create financial literacy modules for the visually impaired. Future plans include leveraging hotlines, radio broadcasts, and WhatsApp messages to disseminate financial education. . BNM's commitment to inclusivity is further exemplified by its principle-based guidance to define financially unserved and underserved segments. This includes specific considerations for PWDs, acknowledging their unique needs and challenges. . This engagement session reaffirmed the importance of inclusive financial practices and the significant steps being taken to ensure that no one is left behind. We are hopeful and excited to see the positive impact these initiatives will have on the PWD community in Malaysia. . Let's continue to support and advocate for financial inclusivity and ensure that our financial systems serve everyone equitably. . #FinancialInclusion #PWD #BankNegaraMalaysia #InclusiveFinance #Advocacy #FinancialLiteracy #EconomicEmpowerment

OCBC has announced a $1.4 billion offer for the 11.56% stake in Great Eastern Holdings (GEH) that it does not currently own. The surprise move accompanied the release of the bank's 1QFY2024 results on May 10. The offer price of $25.60 represents a 36.9% premium over GEH’s last traded price of $18.70 on May 9. With the offer, OCBC intends to increase its investment in GEH beyond its current stake of 88.44%, with a view to delist the insurer from the Singapore Exchange. In June 2023, OCBC bought 2.3 million GEH shares for nearly $40 million, which took its stake up from 87.9% to its current 88.4%. Read more: https://lnkd.in/gD_qwKKJ #SingaporeNews #businessnews #finance #sgnews #news #Banks #WealthManagement #Insurance #Banking #Investment #greateastern #ocbc

𝐈𝐧 𝐭𝐡𝐞 𝐛𝐚𝐧𝐤𝐢𝐧𝐠 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲, 𝐬𝐢𝐳𝐞 𝐦𝐚𝐭𝐭𝐞𝐫𝐬. Many things can remind us of Singapore, from our distinctive Singlish to our diverse local foods, and even the numerous ballots we enter for life’s important events. Local companies, too, serve as reminders of our heritage. Among them, OCBC stands out. As Singapore’s oldest local bank, OCBC has grown to become one of the largest banks in Southeast Asia. In this article, part of our DollarsAndSense's heritage series, we explore OCBC’s incredible journey. From its humble beginnings to its current status as a banking giant, discover how strategic decisions, resilient leadership, and a commitment to innovation propelled OCBC to the forefront of the financial sector. Dive into the rich history of OCBC and see how a small country like Singapore produced such a powerful financial institution. Read more: https://lnkd.in/gMiyRNn7 #OCBC #BankingHeritage #FinancialGrowth #SoutheastAsia #SingaporeBanks #DollarsAndSenseSG #HeritageSeries #BankingHistory #FinancialInnovation #SingaporeHeritage #DollarsAndSense

Today, I had the privilege of attending a crucial engagement session between Bank Negara Malaysia and the Associations of Persons with Disabilities (PWDs). With me was AIBIM Chairman, Dato' Muazzam and Executive Director, Puan Ratna Saerah. This session highlighted the proactive measures being taken to ensure that our financial ecosystem is inclusive and supportive of all, especially the vulnerable segments of our society. . Bank Negara Malaysia (BNM) is committed to achieving four key outcomes through its strategic framework: . 1. Ensuring access to affordable and suitable financial products and services. 2. Promoting the responsible use of financial products and services. 3. Encouraging financial innovation that delivers value for all. 4. Cultivating financially capable consumers with good financial health. . To meet these outcomes, BNM has outlined seven policy objectives and ten broad strategies aimed at addressing the gaps in financial inclusion. Notably, the PWD community is a significant focus within these strategies. . Key Initiatives for PWDs: . 1. Enhanced Framework for Fair Treatment: BNM has released a revised framework to ensure that vulnerable segments, including PWDs, are treated fairly by financial service providers. This framework includes guidelines on ensuring digital banking platforms are accessible and PWD-friendly. . 2. Comprehensive Data Collection: Accurate data on PWDs is crucial for effective policy implementation. BNM is working to enhance its data collection mechanisms to ensure robust monitoring and evaluation of the PWD segment. . 3. Financial Education Initiatives: Through the Financial Education Network, BNM collaborates with various organizations to develop financial literacy modules tailored for PWDs. For instance, in 2023, BNM partnered with the Malaysian Association for the Blind to create financial literacy modules for the visually impaired. Future plans include leveraging hotlines, radio broadcasts, and WhatsApp messages to disseminate financial education. . BNM's commitment to inclusivity is further exemplified by its principle-based guidance to define financially unserved and underserved segments. This includes specific considerations for PWDs, acknowledging their unique needs and challenges. . This engagement session reaffirmed the importance of inclusive financial practices and the significant steps being taken to ensure that no one is left behind. I am hopeful and excited to see the positive impact these initiatives will have on the PWD community in Malaysia. . Let's continue to support and advocate for financial inclusivity and ensure that our financial systems serve everyone equitably. . #FinancialInclusion #PWD #BankNegaraMalaysia #InclusiveFinance #Advocacy #FinancialLiteracy #EconomicEmpowerment

Let's learn from our rising talent of #BankIslam Muzakkir Muhammad Diah as he said in the forum : "Although technology and AI offer incredible opportunities, we would need to ensure the ethical principles will guide these innovations responsibly. It is the empathy, understanding and trust that human bankers build with their clients that truly differentiates exceptional banking experience. It is crucial to remember that banking at its core is a relationship driven business. We would still need personalized service and human judgement." #GoBeyondAtBankIslam #WeBuildLivesNotJustCareers

It’s fascinating to see how our local banks have grown over the years. Did you know OCBC, founded in 1932, started as a small local bank and now ranks among Southeast Asia’s top three largest banks by assets? In our latest article, we went through OCBC’s history books and find out how the bank navigated through decades of change and leveraging strategic decisions to become a key player in the region’s financial sector. This isn’t just a history lesson—it’s a chance to understand the roots of our banking industry and see how the past shapes our present and future. Whether you're in finance or simply curious about our local heritage, this article offers valuable insights into the resilience and growth of Singapore’s financial institutions: https://lnkd.in/ghppvJQ2 #DollarsAndSense #Bankingsector #bankingheritage

Highly enjoyed our most recent Apéro Club on Frontier Markets. With increased macro uncertainty and growth concerns, investors are rightly reassessing capital allocation decisions. Often overlooked in the conversation are Frontier Markets, which possess some of the world's fastest growing economies, healthiest demographics and world-class - yet largely unknown - local operators seizing this opportunity. Maybank Investment Banking Group #MaybankIBG #investmentbanking #primebrokerage

Promising day 2 ahead at the #EMW2023 organized by European Microfinance Platform (e-MFP)! At this first panel of the day, Isabelle Barres (CGAP) is moderating a panel with Peter Okordion (Accion Microfinance Bank Limited, Nigeria), Khalid Kabeer (Vitas Group) & Marnix Mulder (Triple Jump). The session started with a presentation of key principles of successful MFI digitization recently piloted by CGAP. The discussion then featured diverse MFI digitization experiences, sharing their digital transformation journey and the challenges they encountered along the way. There were a lot of challenges for Accion Microfinance Bank Limited, Nigeria, as Peter Okordion shared, "Some of the major challenges on our digital transformation journey were: ✅ Defining a vision. ✅ Getting the internal teams' buy-in (change management). ✅ Addressing customer concerns & building trust with them, handholding them through the entire process. ✅ Doing digital education trainings with our clients at the bottom of the pyramid. ✅ Thinking of solutions around connectivity issues." The session also focused on successes and what digitization success may mean for different MFIs. #digitization #digitaltransformation #MFI

These unnatural profits are, and will keep killing the economy and general public. The prevailing banking system (both conventional & Islamic) is part & parcel of an unjust economic system called capitalism and it's the biggest hurdle in progress & development of a balanced economy. It's the simplest rule of finance; if an individual or an institution is earning a high and risk-free return (IRR), then it will no more occasions shy away from real economic activity, which involves risks! Hence, it's very easy for a bank to; a. give lower/unfair returns to depositors b. charge fees, whenever they wish c. the laws are so weak for the depositors that they can't say anything d. it's easy to do all the above, because they themselves are holding money/deposits of general public e. but when the same bankers are asked to perform as finance ministers, then their performance is zero, because now the funds of general public is neither in their control nor they have the power to deduct their savings & deposits in the name of taxes etc. The above is further elaborated as below. (A) Banks making profits; 1. on prevailing high interest rates 2. speculation in stock market 3. through MTS 4. by charging exorbitant forex charges and (B) by not giving fair share to actual owner of funds i.e. depositors/general public is; 1. Injustice 2. Exploitation 3. Reducing purchasing power of the masses, (C) which leads to; 1. Inflation 2. Unequal distribution of wealth 3. Low productivity (D) Resulting in; 1. Poverty and 2. Unemployment (E) Giving birth to; 1. Social evils 2. Theft, 3. carjacking 4. Kidnapping 5. While terrorism is it's worst form. The panacea to all our socioeconomic woes is Islamic economy (and not Islamic banks, which have accepted forbidden factor interest as a benchmarking against the message of Quran & Sunnah on Riba) A Glimpse of Islamic Economic System is shared below https://lnkd.in/dArVMxTs https://lnkd.in/ds4Sp_pp