Labuan IBFC, ASAS create more awareness about Islamic finance

Source: Labuan IBFC. Representatives from Labuan IBFC, Labuan Financial Services Authority (FSA) and ASAS at the training programme.

Labuan International Business and Financial Centre (Labuan IBFC), together with the Association of Shariah Advisors in Islamic Finance Malaysia (ASAS), recently hosted a training session highlighting opportunities in Islamic finance, encompassing shari'ah-compliant fintech, captive and cross-border wealth management solutions within Labuan IBFC.  

The hybrid event gathered Islamic finance professionals and shari'ah advisers from Malaysia and abroad to explore Labuan IBFC's proposition as global business hub offering Islamic finance solutions. Participants gained key insights into the digital acceleration of Islamic finance and its innovative financial structures. 

In opening remarks on the day of the event, Tn. Haji Makhtar Abdullah, CEO of ASAS commented: "The future of Islamic finance will depend not only on products and regulations, but also on the quality, integrity, and commitment of the talents who guide the industry forward. Therefore, I hope today's programme will serve as a catalyst that inspires all of us, as ASAS members, to continue contributing our shari'ah knowledge and expertise towards strengthening the Islamic finance ecosystem."  

Ben Quah, CEO of Labuan IBFC, underscored Labuan IBFC's position as Asia's premier international financial hub in a keynote. "Labuan IBFC's robust Islamic finance framework has successfully positioned the jurisdiction as a leading global hub in this sector. Consequently, we are confident that this collaboration with ASAS will further accelerate and advance the Islamic finance agenda," he said.

The main session focused on the Islamic Digital Asset Centre (IDAC), which drives Islamic digital finance beyond Labuan IBFC. Emerging opportunities exist in digital banking, fintech innovation and broader digital financial services, delegates learned. 

The session also underscored the growing relevance of captive takaful structures as a strategic tool for risk management and cost optimisation. 

MYDIN partners with Lark to accelerate retail digital transformation

Source: Lark. Olivier Adam, Head of Commercial, Lark (left) and Malik Murad Ali Mydin, Director of Mydin Mohamed Holdings (right).

MYDIN, Malaysia's largest halal homegrown retail chain, has adopted the Lark all-in-one productivity platform to digitise, unify, and continue delivering accessible, high-quality, and affordable products and services to communities nationwide. 

The collaboration marks a significant milestone in MYDIN's digital evolution, streamlining communication across its headquarters, logistics hubs, and 77 retail outlets, enabling thousands of employees to collaborate more effectively and respond quickly to customer and market needs. 

By digitising and unifying its daily operations, MYDIN is strengthening its organisational efficiency, empowering team productivity, and building the digital backbone required to support its long-term business ambitions. Lark will become MYDIN's go-to platform for streamlining communications, speeding up workflows, and centralising operational information across all levels. 

Key use cases include: 

All-in-one collaboration 

Integrates messaging, video calls, approvals, forms, and ticketing into one seamless platform, reducing platform switching and improving speed of execution. 

Process standardisation and digitisation 

Uses Lark Base and Wiki to unify operational workflows, store standard operating procedures (SOPs), department guidelines, and checklists, enabling consistent execution and improved compliance across branches. 

Employee engagement and cross-team communication 

Leverages Lark Moments to foster team culture, support company-wide updates, and strengthen engagement among distributed teams across Malaysia. 

Rapid executive decision-making

By establishing a single source of truth, the time required to consolidate project data reduced by 85%. 

Precision financial governance

The move beyond manual spreadsheets to track estimated vs actual costs in real-time, eliminating version control errors and providing instant visibility into budget health for all in-progress projects. 

Operational transparency

Branch opening dates, milestones, and logistics updates are now displayed on live dashboards, ensuring thousands of employees across headquarters and retail branches are aligned. 

Role-based security

Sensitive financial and project data is now protected through structured access governance, ensuring information is only available to authorised personnel.

A centrepiece of this partnership is the digitalisation of MYDIN's environmental, social and governance (ESG) programme. With 67% of Malaysian consumers preferring sustainable brands, MYDIN has moved its solar panel installations and CO₂ emissions tracking onto Lark.

Previously, sustainability data was scattered across multiple legacy systems.Today, MYDIN leadership utilises real-time MapTable visualisations within Lark to monitor energy savings and carbon reduction across every hypermall and mall in their portfolio. 

Mark Dembitz, GM, Lark APAC, shared: "Our partnership with MYDIN marks an exciting milestone in Lark's mission to support the accelerated digitalisation of Southeast Asia's largest and most established retail brands. MYDIN's deep heritage as a trusted family-owned Malaysian retailer, combined with its rapid transformation efforts, sets the foundation for strong, scalable growth. 

"With Lark, teams across MYDIN's many branches, from hypermarkets to convenience stores, can collaborate effortlessly, streamline operations, and enhance service quality for millions of customers nationwide."

Established in 1957, MYDIN has evolved from a wooden shop in Kota Bharu into one of Malaysia's leading retail brands, with 77 outlets nationwide. Anchored by its Why Pay More? Buy at Wholesale Prices! promise, MYDIN delivers quality halal products at affordable prices to Malaysians.

Today, MYDIN continues to evolve, expanding into new retail innovations, digitalisation initiatives, and customer experience enhancements, ensuring it remains competitive and relevant for future generations of Malaysian families. 

Malik Murad Ali, Digital Director of MYDIN, said: "At MYDIN, we believe that retail is in the details, and clear communication is essential to ensuring our teams operate seamlessly across the business. The implementation of Lark as our communication and collaboration platform allows us to streamline coordination, improve operational efficiency, and foster a more connected workforce across all MYDIN formats. 

"By strengthening our internal operations, we are better positioned to serve customers faster, operate more effectively, and continue delivering the everyday value that MYDIN is known for, while supporting our long-term ambition to elevate the Malaysian retail experience as a proud homegrown, community-first brand."

Winners announced for The BrandLaureate World Halal BestBrands Awards 2026

The World Brands Foundation (TWBF) has presented The BrandLaureate World Halal BestBrands Awards 2026. 

For The BrandLaureate, each recognition platform is a reaffirmation of brand purpose, principled leadership, and long-term value creation. In today's increasingly discerning environment, brands are defined not only by visibility, but by the strength of their governance, the discipline of their strategy, and the trust they inspire among stakeholders, the company said.

Across the global halal landscape, the progressive growth of bumiputera enterprises and the evolving fast-moving growing and sustainable business and brands (FMGS) sector, branding has become a catalyst for credibility, competitiveness, and sustainable economic contribution.  

In an increasingly competitive marketplace, these brands have demonstrated that strong identity, structured governance and strategic branding are catalysts for sustainable growth, the organisers said. 

Anchored by the theme Advancing Halal: Inspiring Trust, Elevating Standards, Expanding Vision, The BrandLaureate World Halal BestBrands Awards 2026 recognises brands that have strengthened the global Halal ecosystem through innovation, governance and unwavering commitment to excellence. 

The global halal economy has matured into a multitrillion-dollar force spanning food, pharmaceuticals, finance, logistics, technology, hospitality, and lifestyle. In this expanding landscape, the concept of halal has emerged as a universal symbol of trust, ethics and quality that transcends geography and culture, The BrandLaureate said. 

The award honours brands that understand halal as a disciplined system of values embedded throughout leadership, operations and supply chains. Recipients represent the new standard of halal excellence; brands that elevate industry benchmarks while expanding their global influence. 

Organisations honoured spanned food and beverage, pharmaceuticals, Islamic finance, logistics, manufacturing, hospitality, technology, and professional services. Recipients included Maybank Islamic, Blackmores Malaysia, Ikano Handel (Ikea Malaysia: Swedish Restaurant), KHH Double Lion Fruit Juice Manufacturing, Kart Food Industries, Majlis Agama Islam Selangor and Teo Seng Capital. 

The BrandLaureate World Halal BestBrands Awards 2026 - Signature Brand recognise organisations demonstrating strong brand identity, innovation, and sectoral excellence. The recipients included Apollo Food Industries, Borenos, Halal Products Research Institute: Universiti Putra Malaysia, IKOP Pharma, Gemini Beauty Resources (Kitsui), Kumpulan Medic Iman (KMI Healthcare), Lay Hong (Nutriplus) and RCE Marketing. 

The BrandLaureate World Halal BestBrands Awards 2026 - Most Preferred Brand honoured organisations that have achieved strong consumer trust, preference, and market resonance. Award recipients included HERO 99, JCL Credit Leasing (JCL i-Fund), Kanika Malaysia, Kwantas (Minyak Mas), Desa Southern Food Products (Sweet & Sour), and Village Park Restaurant. 

Strategic business partners of The BrandLaureate World Halal BestBrands Award 2026 include Jabatan Kemajuan Islam Malaysia (JAKIM) and Halal Development Corporation (HDC). YBhg Dato' Dr. Sirajuddin Bin Suhaimee, Director General of JAKIM, was honoured with The BrandLaureate World Halal BrandLeadership Award 2026 for outstanding leadership in halal governance. 

"In a world of expanding opportunities and intensifying competition, branding is what elevates a business into a lasting force — it is what makes a brand be seen, heard, known, and remembered. As industries evolve and the halal economy rises globally, these awards honour brands that build with trust, stand with purpose, and grow with unwavering resilience," said President Emeritus Professor Dr KK Johan, World President of The World Brands Foundation. 

Source: The BrandLaureate. The World Brands Foundation (TWBF) has celebrated The BrandLaureate World Halal BestBrands Awards 2026. 

Explore

See the full list of winners and award categories.

HLB Islamic charts new course in wealth stewardship

Hong Leong Islamic Bank is transitioning to a refreshed consumer-facing brand identity, HLB Islamic, and a strengthened core proposition that approaches financial services not as a series of siloed products and transactions, but as total wealth stewardship through a shari'ah-principle-guided lifecycle approach known as Hayat @ HLB Islamic. 

Source: HLB Islamic. Dafinah Ahmed Hilmi, CEO of HLB Islamic (left) and Kevin Lam, Group MD and CEO of HLB (right) unveiling the refreshed identity of HLB Islamic and introducing Hayat @ HLB Islamic, the bank’s new proposition centered around wealth stewardship.

Hayat @ HLB Islamic empowers customers to look beyond wealth as a standalone category, and instead view their entire financial journey through the lens of wealth. This evolution is rooted in the bank’s new philosophy, Timeless Principles Guiding Tomorrow’s Wealth, introduced during its 20th anniversary last December.  

Kevin Lam, Group MD & CEO of Hong Leong Bank (HLB) said: "Our transition to HLB Islamic is a deliberate step to foster deeper brand affinity with our diverse clientele and a clear declaration of our intent to scale our shari'ah-compliant franchise into a primary engine of growth for HLB. 

"By aligning our Islamic banking identity more closely with the core HLB brand, we are making our shari'ah-compliant solutions more intuitive, accessible, and digitally integrated. Looking ahead, our goal is for HLB Islamic to be the preferred gateway for wealth stewardship in Malaysia, demonstrating that value-based solutions that are truly customer-centric can lead the market in both innovation and resonance.” 

True to its commitment to empowering purposeful wealth stewardship, customers can now access zakat (زكاة), sadaqah (صدقة), and waqf (وقف) services directly through the HLB Connect app.

The Hayat @ HLB Islamic journey begins with Wealth Creation and Accumulation, focusing on generating purpose-driven wealth from the first paycheck and investing in shari'ah-compliant assets. This foundation is secured by Wealth Protection to shield against uncertainty, and elevated by Wealth Purification, which promotes ethical stewardship through giving. Finally, Wealth Distribution moves beyond inheritance to help customers design legacies that pass down values alongside financial assets. 

Dafinah Ahmed Hilmi, CEO of HLB Islamic commented: “We understand that our customers entrust us with the fruits of their success and the security of their family’s future. It is a responsibility that requires us to be incredibly thoughtful, and this realisation is what led us to launch Hayat @ HLB Islamic. We believe that financial planning should be grounded in a long-term wealth stewardship mindset; by building our solutions around the various life stages of our customers, we ensure that this journey is simple, seamless, and intuitive.”

“There is an inherent beauty in Islamic banking. Its principles offer a holistic and dignified view of wealth, connecting every financial decision with a balanced responsibility toward society. Grounded in maqasid al-shari'ah foundations, Hayat @ HLB Islamic integrates the full arc of a life journey, from a child’s first savings to legacy planning, ensuring the path is not only profitable but purposeful." 

"Our responsibility as a bank is to bridge the gap between the theoretical and the practical, empowering our customers to approach financial management from a perspective of wealth stewardship and abundance, while remaining firmly rooted in shari'ah principles,” added Dafinah. 

To celebrate this new milestone, HLB Islamic invites customers to embark on their Hayat journey with the chance to visit their destinasi impian (dream destination). By engaging with eligible products across any of the five Hayat @ HLB Islamic pillars, customers can stand a chance to win travel prizes to Japan, China, and Vietnam.

*Maqasid al-shari'ah (مقاصد الشريعة) refers to the philosophy behind shari'ah law.

Swiss Bear honours food operators and delivery riders this Ramadhan

This Ramadhan, Swiss Bear, a food solutions brand under Kerry Group that provides sauces and dressings, is recognising food operators and delivery riders across Kuala Lumpur for their essential role in ensuring iftar meals reach families and communities each evening. 

The brand observed that many food operators continue preparing dishes through sunset - the time of breaking fast - while delivery riders often break their fast on the move to ensure timely deliveries. 

Source: Swiss Bear. This Ramadhan, food riders will enjoy free meals as they break fast at participating locations in Kuala Lumpur.

In appreciation of their dedication, Swiss Bear, in partnership with selected food operators, will distribute complimentary meals to food riders at participating locations. These locations will also serve as designated spaces where delivery riders can break fast comfortably while collecting orders.

The public is encouraged to support the initiative through the following activities:

- Purchase meals from partner operators prepared using Swiss Bear sauces. 

- Follow Swiss Bear's Facebook and Instagram accounts to track the donation counter and the growing number of dishes contributed.

- Visit Swiss Bear's participating locations and leave messages to encourage community involvement. 

- Engage with campaign content across Swiss Bear's social media platforms, which will include videos, recipe features, and live streams. 

- Participate in the Shopee Raya Bundle promotion, where every purchase made from now until 15 March contributes to the final number of dishes donated.

Malaysian heritage cuisine shines at iftar at the Birkin International Hotel

Birkin International Hotel, a new coastal haven located in Klebang, Melaka offers guests the perfect blend of seaside serenity and the cultural charm of heritage. The hotel is set to welcome Ramadhan with the Gulai Kawah Tradisi Ramadan Buffet. 

Running from 27 February to 19 March 2026, this buffet showcases authentic Malaysian heritage cuisine, with a strong emphasis on traditional flavours and communal dining. Highlights include the fan-favourite kambing gulai kawah, alongside a spread featuring rusa golek, kambing golek, nasi Arab, ayam bakar tandoori, ayam panggang Maharani, ketam bunga masak lemak, murtabak tomahawk, ekor asam pedas, and sup sum-sum, a beef or mutton soup made with marrow-filled bones. 

"These festive promotions reflect our commitment to celebrating Malaysia's rich cultural diversity through food and meaningful experiences," said Kevin Lee, GM of Birkin International Hotel.

Details 

The Ramadhan buffet, available daily from 6:30 pm to 10 pm, is priced at RM205+ for adults. There is a Buy 10 Free 1 promotion as well. 

Call +6012-558 7295 or email reservations@birkinhotels.com for reservations and enquiries. 

Advance reservations are strongly recommended, and all promotions are subject to availability. Prices are subject to prevailing sales and service tax (SST).

PayNet launches digital aid for Sabah

Payments Network Malaysia (PayNet) has partnered with Gobarakah Tech (Gobarakah) to deliver targeted relief to rural communities impacted by floods and landslides in Penampang, Sabah. 

The digital flood relief supported over 140 individuals from 47 households in heavily-affected areas, including Kampung Madsiang, Kampung Sogumau, Kampung Inobong, Kampung Limbata, and Country Heights.

This marks PayNet’s first digital aid initiative in rural Sabah and its second relief effort for Penampang. Beneficiaries were verified and onboarded onto Gobarakah’s platform, receiving e-vouchers, enabling impacted households to redeem essential goods via Koperasi Wawasan Rakyat Sabah’s mobile supply trucks and local grocery stores. Earlier this year, PayNet also supported repairs at the Madsiang Community Learning Centre (under Moyoq Innovation House) damaged by the 2024 floods.

“The current monsoon season has heavily impacted the residents of Penampang. Our goal was to provide greater control and flexibility in the flood aid relief to the impacted residents. This digital approach in partnership with Gobarakah, empowers beneficiaries to choose what they needed and assures donors that contributions reach the intended recipients,” said Farhan Ahmad, Group CEO of PayNet.

Source: PayNet. Representatives from PayNet and Gobarakah together with residents from Penampang.

Zetrix AI launches world's first shari'ah-aligned LLM, NurAI

Zetrix AI, formerly known as MY EG Services, has unveiled NurAI, the world's first shari'ah-aligned, Islamic values-based large language model (LLM). NurAI offers guidance consistent with shari'ah rulings on a range of subjects. 

Developed under the guidance of a formal Shari'ah Supervisory Board, NurAI is rooted in Islamic ethics and strict shari'ah alignment on contemporary matters such as law, healthcare and finance, to classical Islamic themes that include history, Islamic philosophy and Quranic studies. 

NurAI offers Muslim-majority nations and Muslim communities an alternative to existing Western and Chinese AI models, which often lack alignment with Islamic values and the development priorities of the Global South, Zetrix said, explaining that 2 billion Muslims support a US$3 trillion Islamic economy and seek AI tools that align with their cultural values, religious principles, and development priorities. NurAI also supports the growing demand for AI sovereignty and shari'ah-aligned technology from governments and institutions across Malaysia, Indonesia, and the Gulf Cooperation Council (GCC).

Beyond consumer adoption, NurAI lays the groundwork for broader digital Islamic economy infrastructure across halal trade, supply chain, Islamic finance, and governance, thereby advancing AI sovereignty in emerging markets, the company added.

"This is a prime example of how we can harmonise religion and technology for the benefit of the ummah and the advancement of the nation. I would like to call on all parties, including the government, private sectors, financial institutions, and religious bodies, to give full support to the development and expansion of technologies like NurAI," said YAB Dato' Seri Dr. Ahmad Zahid bin Hamidi, Deputy PM of Malaysia. 

The team behind the development of NurAI will establish a shari'ah-aligned framework in collaboration with key religious bodies, including the Malaysian Islamic Development Department (JAKIM), Indonesian Ulama Council (MUI), International Islamic Fiqh Academy (IIFA), and Al-Azhar University in Egypt. 

NurAI will also serves as a foundational LLM upon which advanced agentic and domain-specific generative AI can be built, enabling tailored solutions for real-world applications in sectors such as Islamic finance, education, governance, and halal industry regulation. 

Unique to NurAI are channels that enable users to interact with avatars modelled after experts across various fields. Trained with exclusive datasets, these channels reflect the experts' unique knowledge and teaching philosophy and will provide deeper insights, especially on topics that require careful interpretation and understanding. 

The NurAI team will provide an Islamic finance channel in partnership with INCEIF University, an affiliate of Bank Negara Malaysia, in addition to channels by leading Islamic scholars from around the world.

NurAI is available in Malay, Indonesian, Arabic, and English across both desktop and mobile platforms. The desktop version can be accessed at https://nur-ai.ai.

"The rollout of NurAI is designed to be phased and progressive. It will begin with a freemium B2C app in Malaysia and Indonesia, offering general shari'ah guidance alongside premium features such as inheritance calculators and medical bioethics advice. The second phase will focus on institutional integration via B2B and B2G models, enabling implementation of NurAI into the daily operations of Islamic financial institutions, fintechs, halal certification bodies and shari'ah legal authorities," said Datuk Mohd Jimmy Wong Bin Abdullah, Director of Zetrix AI.

Source: Zetrix AI. Source: Zetrix AI. Dato’ Fadzli Shah, Co-Founder of Zetrix AI, demonstrating NurAI.

Headquartered in Malaysia, Zetrix AI is deploying Blockchain and AI technology across ASEAN. It is also committed to developing responsible, values-based digital infrastructure for Muslim communities worldwide. The company is embracing the convergence of Web 3, AI and robotics to enable optimally-efficient, intelligent and secure cross-border transactions, digital identity interoperability and automation solutions that seamlessly connect peoples, businesses and governments. 

JETCO strengthens Johor-Singapore cross-border partnership

Source: JETCO. From left: Saifuddin Bin Abdul Rahim, CEO, JETCO; Syed Ali Alsagoff, VP, Singapore Concierge Association; Dato’ Haji Hasni Mohammad, Executive Chairman, JETCO; and Raven Kumar Krishnasamy, Johor State Unity, Heritage And Culture Committee Chairman.

Johor Economic, Tourism and Cultural Office Singapore (JETCO) has been solidifying Johor as a destination within the Singapore tourism landscape with a number of collaborations, including:

A digital tourist counter

Established at Suntec City with WTS Travel, the counter enhances accessibility for travellers by providing real-time travel information and seamless booking services for Johor-bound visitors within a key Singapore retail hub. 

Johor Tourism Ambassador Program 

Set up with Les Clefs d'Or Singapore and the Concierge Association Singapore, the programme equips concierge professionals with in-depth knowledge of Johor's tourism offerings, enabling them to serve as tourism ambassadors and direct more travellers to the state. 

These initiatives align with Johor's vision to strengthen tourism ties with Singapore, especially in preparation for Visit Johor Year 2026, which is expected to attract a surge of international visitors. 

In his welcome address, at a recent  Table Talk session, YB Dato' Hasni Mohammad, Executive Chairman of JETCO, said that the goal is to turn "transit visitors into extended-stay tourists and day-trippers into repeat guests". 

He said: "Johor and Singapore share more than just a border - we share a common vision for tourism growth, and JETCO is here to ensure that vision becomes reality. JETCO serves as the bridge between Johor and Singapore, the driving force behind tourism promotion, and the facilitator of partnerships that benefit both destinations." 

Singaporean tourists are expected to take relatively short trips across the border. For such visitors, Johor offers resorts such as Desaru Coast, theme parks including Legoland and Sunway X-Park, as well as value for dining, shopping, and leisure.

For tourists flying into Singapore, Johor could be an additional destination to a Southeast Asian itinerary. The Malaysian state is less than an hour's drive away and offers beaches, rainforests, and rich cultural heritage.

Johor is also a paradise for golfers, home to 27 world-class golf courses that cater to both amateur and professional players. 

"Let's start a conversation, explore partnerships, and make Johor the next big destination in your portfolio," the Executive Chairman concluded. 

YB Raven Kumar Krishnasamy, Johor State Executive Councillor (EXCO) for Unity, Heritage and Culture said: "As we gear up for Visit Johor Year 2026, it is vital that we work closely with our trade partners in Singapore to enhance connectivity, promote new travel experiences, and ensure seamless access to Johor's attractions. These collaborations demonstrate our commitment to making Johor a top-of-mind destination, and we look forward to deepening these ties for mutual growth." 

JETCO is a Johor State Government agency that provides trade partners with market insights, promotional support, and seamless connections to Johor's best offerings. The organisation is committed to fostering strong cross-border tourism and economic partnerships, and invites more industry players to join forces in developing innovative and sustainable travel experiences for visitors. 

Taobao organises first Raya sale in Malaysia

Source: Taobao Malaysia Instagram page. Duit Raya is up for grabs on Wednesdays in March.

Taobao Malaysia is ushering in its first-ever sales campaign dedicated to the Ramadhan and Raya season. Running throughout March, the month-long campaign features promotions, daily free shipping vouchers, and curated festive essentials.

Following the successful introduction of its English interface in September last year, Taobao Malaysia continues its commitment to making the platform more accessible to local users with tailored shopping solutions and promotions via the Raya campaign.

Jess Lew, Country Head of Taobao Malaysia said: "We are thrilled to celebrate one of our country's biggest festive moments together with our first-ever Raya campaign. We have prepared an abundance of promotions to make it easier and more rewarding for our customers to shop for their festive needs. With the successful implementation of the English interface, we can further enhance the shopping experience, ensuring that everyone can easily access the Taobao platform and shop effortlessly."

The Last Call Raya Sale will be held from 23 to 31 March.

On top of these shoppers have the chance to grab a limited-time offer, and an RMB35 voucher (equivalent to RM21) to enjoy free shipping with no minimum spend required during this promotion period. For first-time Taobao shoppers, deals for as low as RMB1 (equivalent to RM0.62) are up for grabs. 

Taobao Malaysia is also introducing the Spend & Win Duit Raya promotion. Shoppers stand a chance to win up to RMB50 (equivalent to RM30) in duit Raya every Wednesday in March at 12 pm when they make a purchase, with 100 winners per day. The duit Raya will be in the form of a cashback amount, and equivalent to the amount shoppers spend, capped at RMB50 (equivalent to RM30).

"We hope to build a more holistic shopping environment with the promise of delivering our biggest promotion in Malaysia ever. We believe Malaysians will be able to save more and enjoy more this festive season," said Lew.

Explore

The Taobao app is available to download on both the Apple App Store and Google Play. 

Watch the associated video at https://www.tiktok.com/@taobao.malaysia/video/7478181353075313927

*Platform rules will prevail over the specific promotion details.

Webull Securities Malaysia launches Islamic banking channel

Webull Securities Malaysia, a Webull subsidiary, has launched of an Islamic banking channel. This new feature offers local investors the flexibility to choose to fund their Webull trading accounts via an Islamic bank or a conventional bank, making Webull Malaysia the first fully online retail brokerage platform in the country to offer such a service.

The Webull digital investment platform has over 40 M downloads globally. The dual banking gateway provides a flexible currency exchange and deposit system. For those seeking to fund their trading accounts with shari'ah-compliant funding options, this new feature, together with zero deposit fees, interest-free and a profit-sharing based banking facility, will enhance their overall trading experience, Webull Malaysia said.

Webull Malaysia's new Islamic banking channel aims to cater to local investors who are looking to invest in shari'ah-compliant equities and exchange traded funds (ETFs) across both the Malaysian and US stock markets. It complements an existing shari'ah indicator for US stocks and ETFs.

Kenneth Chan, CEO, Webull Malaysia said: "We are proud to be the first fully online retail brokerage platform in Malaysia to offer local investors the flexibility to fund their trading accounts with an Islamic bank. The introduction of the Islamic banking channel, along with improvements to the shari'ah stock screener, enables investors to fund their trading accounts in a way that best aligns with their investment needs and principles. By offering local investors the option to choose between Islamic and conventional bank funding for their Webull accounts, we aim to deliver inclusive, seamless and accessible trading experiences for all investors.

"We are also committed to enhancing the experience of local investors by offering a fully-localised version of the Webull MY trading app. This feature allows users to translate all content - from portfolio displays to the latest local and international news, as well as the educational materials provided - into Bahasa Melayu, ensuring an accessible and tailored experience for our Malaysian users. We are proud to support the needs of Malaysia's investment community and remain committed to developing innovative products that enhance convenience and accessibility for investors."

With the new Islamic banking channel, local investors can choose to fund their trading account with an Islamic bank in Malaysia. Local investors funding their trading account with an Islamic bank will be part of a profit-sharing based banking facility.

MIHAS ventures across borders to Dubai

Source: MATRADE. The MIHAS@Dubai logo.

The world's largest halal showcase, Malaysia International Halal Showcase (MIHAS), is gearing up for its international debut after 20 successful editions in Malaysia.

MIHAS is set to launch MIHAS@Dubai as part of the 22nd Middle East Organic and Natural Product Expo at Dubai World Trade Centre from November 18 to 20, 2024. The event is expected to help expand the halal economy by connecting the UAE and Malaysia's halal ecosystem with others worldwide.

"The debut of MIHAS in an overseas market marks a significant milestone in its global expansion, offering Malaysian exhibitors an unparallelled platform to access the thriving international halal market. Showcasing in Dubai - one of the world's prominent trade hubs - enables Malaysian businesses, particularly SMEs, to broaden their reach, forge strategic partnerships, and seize valuable opportunities for sustained growth in the international market," said Datuk Mohd Mustafa Abdul Aziz, CEO, Malaysia External Trade Development Corporation (MATRADE). MATRADE organises MIHAS.

MIHAS@Dubai comes close on the heels of MIHAS Malaysia being recognized by the Guinness World Records for having the largest attendance for a halal trade show. In 2024, MIHAS Malaysia attracted 43,353 visitors from over 90 countries and featured 2,028 booths from 66 nations in Kuala Lumpur from September 17 to 20, 2024.

"MIHAS@Dubai represents a pivotal moment as the first step in the internationalisation of MIHAS. By placing our products at the heart of a major international trade hub, this initiative empowers our businesses, especially SMEs, to extend their market reach, forge lasting strategic partnerships and capitalise on new growth opportunities, setting the stage for long-term global success," added Datuk Mohd.

"The upcoming show will be very significant for both the region as well as the industry since it will witness the global debut of an event that is considered as the nerve centre of the global halal ecosystem," said P Ravi, Director, Global Links Exhibition Organizers & Conferences, organiser of the organics expo.

Mihas@Dubai will help nearly double the number of exhibitors at the organics expo to 550 for its upcoming show. Malaysia will also be the country partner for the Middle East Organic and Natural Product Expo 2024 and will be one of 20 country pavilions at the event.

"MIHAS@Dubai and country partner Malaysia will bring together more than 200 exhibitors and can play a pivotal role in advancing the halal and organic industries in the Middle East. Key avenues for this growth include certification and standards, trade partnerships, investment opportunities, knowledge transfer, and consumer awareness, among others," added Ravi.

The UAE is positioning itself to lead the US$3 T global halal sector. The country is committed to help the region gain from advanced legislative and regulatory aspects while also integrating modern technology for the sustainable development of the halal industry.

"The trade fair is merely the starting point – a gateway for showcasing our products and making initial connections. The true potential lies beyond the event itself, in the lasting relationships, market expansion and trade opportunities that our exhibitors, particularly SMEs, can leverage long after the fair ends. It paves the way for new partnerships, sustained business growth and a broader global impact that will continue to benefit our businesses and the economy for years to come," concluded Datuk Mohd.

*SME stands for small and medium-sized enterprise.

FWD Group Holdings makes another investment in FWD Takaful

FWD Group Holdings (FWD) has completed an additional investment for a further 21% stake in FWD Takaful. This makes FWD the majority shareholder in FWD Takaful, with a 70% holding. The remaining 30% is held by the Employees Provident Fund. JAB Capital is no longer a shareholder after the transaction.

"We are delighted to increase our investment in FWD Takaful, after first entering the Malaysian market five years ago. Our commitment to changing the way people feel about takaful in Malaysia is all about building our presence in the local community over the long term," said Binayak Dutta, MD, FWD Group.

FWD Takaful's family takaful product portfolio to customers in Malaysia include term life, critical illness, cancer, hospital cash benefit and medical protection.

"With the continued commitment of FWD Group over the years to its development in Malaysia, we've created a full-service offering to provide both family takaful and life insurance solutions in a rapidly growing market with long-term potential," said Dutta.

Malaysia is the fourth-largest life insurance market by premium in Southeast Asia¹. Insurance penetration² is less than 5% alongside attractive macroeconomic fundamentals and favourable demographics.

FWD Group first entered the Malaysian market in 2019 as a provider of family takaful products with its acquisition of a 49% interest in FWD Takaful. Later that year, FWD Group established its regional technology and innovation hub in Kuala Lumpur, with a focus on delivering best-in-class technology and supporting innovation across the whole company.

In 2023, FWD Group created a full-service offering in Malaysia, featuring both family takaful and life insurance solutions with its establishment of FWD Insurance. This followed the completion of the company's investment, together with other investors, in the business formerly known as Gibraltar BSN, on 3 April 2023.

The Southeast Asia region is strategically important for FWD Group, with more than half of its value of new business³ contributed by its operations in the region. FWD Group is a top five insurer and top bancassurer within its Southeast Asia markets, on an annual premium equivalent⁴ basis.

1 NMG; Swiss Re

2 NMG

3 For the six months ended 30 June 2023

4 For the nine months ended 30 September 2023

Huikun now halal in Malaysia

Taiwanese tuna specialist Huikun has been awarded halal certification by JAKIM in Malaysia.

Huikun is committed to providing fresh, high-quality, and nutrition-rich tuna products. Its product lineup includes frozen cooked tuna, tuna meat sauce packs, tuna curry sauce, and canned tuna pasta sauce.

FWD to enter Malaysian life insurance market through Gibraltar BSN Life investment

FWD Group Holdings will enter the Malaysian life insurance market following the signing of an agreement to invest in a majority stake in Gibraltar BSN Life. The transaction is expected to close in Q223.

FWD Group, and other investors, will together hold an effective 70% stake in Gibraltar BSN, which was sold by The Prudential Insurance Company of America, the wholly owned subsidiary of US-based Prudential Financial, Inc. Bank Simpanan Nasional (BSN) will continue to hold the remaining 30% stake in Gibraltar BSN. Post-completion, FWD Group will partner with BSN to further develop and grow Gibraltar BSN.

Huynh Thanh Phong, Group CEO and Executive Director of FWD Group, said, "We're creating a full-service offering in Malaysia and will be able to offer both family takaful and life insurance solutions in a rapidly growing market with huge long-term potential for growth. We're excited to bring our digitally-enabled products and services to more people in Malaysia. With these strategic developments, we also substantially complete our footprint across key Southeast Asia markets in the 10th anniversary year for FWD Group. Changing the way people feel about takaful and insurance remains the vision that guides our work."

Malaysia is the 4th largest life insurance market by premium in Southeast Asia*, with highly attractive macroeconomic fundamentals and favourable demographics. FWD Group entered the Malaysian market in March 2019 as a provider of family takaful products, including term life, critical illness, cancer, hospital cash benefit and medical protection.

Binayak Dutta, FWD Group MD, Emerging Markets and Group Chief Distribution Officer said, "Our partnership with BSN underscores our commitment to the Malaysian market and we look forward to playing our part in the growth and development of Malaysia's takaful and insurance sectors. Since establishment, our business in Malaysia has gone from strength to strength. We grew gross written contributions by 173% in our first full year of operation**, established our regional technology and innovation hub in Kuala Lumpur and partnered with a leading social enterprise in Malaysia to develop Fun(d) for Life, a financial literacy programme supporting over 4,200 individuals***."

Existing customers and distribution channels of Gibraltar BSN will not be affected by this investment and all existing policies will continue to be honoured. Customers can also continue to access the company's products and services using their preferred service channels. Additionally, existing customers and distribution channels of FWD Takaful will not be affected. FWD Group plans to rebrand the Gibraltar BSN business at a later date.

*NMG; Swiss Re.

**Malaysia gross written contributions (GWC) grew by approximately 173% from 2020 to 2021. This is in comparison to the industry gross written premiums (GWP) in Malaysia, which grew by approximately 9% over the same period, according to NMG.

***As of 30 September 2022.

Tan Sri Dr Mohd Daud Bakar receives Royal Award for Islamic Finance 2022

The Royal Award for Islamic Finance 2022 (The Royal Award) has been bestowed onto Tan Sri Dr Mohd Daud Bakar by the King of Malaysia, HM the Yang di-Pertuan Agong. 

Tan Sri Dr Mohd Daud, an eminent shari’ah scholar, is widely recognised for his contributions to the development of the global Islamic finance industry. He currently serves as Chairman of the Shariah Advisory Council for both Bank Negara Malaysia (BNM) and the Securities Commission Malaysia (SC). He is also a shari’ah board member of international financial institutions and organisations such as Amundi Asset Management (France), Bank of London and Middle East, Dow Jones Islamic Market Index (New York), Morgan Stanley (Dubai), and Sedco Capital (KSA).

Tan Sri Dr Mohd Daud is additionally instrumental in developing the first shari'ah standard on gold issued by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). His multidisciplinary knowledge has helped bridge the application of shari’ah principles in modern Islamic finance, leading to further advancement of the industry. 

Tan Sri Dr Mohd Daud was also a former President of International Islamic University Malaysia (IIUM). In addition, he has established a few shari’ah advisory services and fintech companies, contributing to shari’ah-related framework and policies, product structuring, human capital development and technology solutions. 

A prominent figure in Islamic finance thought leadership, Tan Sri Dr.Mohd Daud Bakar is also an award-winning author, with more than 40 books written in various genres. His books shed light on modern scholars’ interpretation of shari'ah rulings and its practical application in the Islamic finance industry. He has published numerous articles in academic journals, some of which were presented at established international conferences. 

Jury Chairman Tun Musa Hitam said, “The Jury went through a stringent and rigorous selection process on the merits and achievements of each nominee before arriving at a final decision. As a respected shari’ah scholar, author and entrepreneur, Tan Sri Dr Mohd Daud Bakar has played a prominent role in shaping the global Islamic finance industry. He is widely recognised for his contributions in advancing shari’ah thought leadership in Islamic finance.” 

The Royal Award, established in 2010, is a biennial award jointly organised by Bank Negara Malaysia and the Securities Commission Malaysia as part of the Malaysia International Islamic Financial Centre (MIFC) initiative to recognise and honour individuals who have excelled in advancing Islamic finance globally through their outstanding contributions and achievements. 

Past recipients include Tan Sri Dr Zeti Akhtar Aziz, former Governor of Bank Negara Malaysia (2018); Professor Datuk Dr Rifaat Ahmed Abdel Karim, former CEO of the International Islamic Liquidity Management Corporation (2016); Dato’ Dr Abdul Halim Ismail, founding member of Malaysia’s first Islamic bank (2014); Dato’ Paduka Iqbal Khan, CEO of Fajr Capital (2012); and the late Shaikh Saleh Abdullah Kamel, founder of the Dallah al Baraka Group (2010).

MIFC Leadership Council to guide Malaysia's progress as an international Islamic finance gateway

Bank Negara Malaysia (BNM) and the Securities Commission Malaysia (SC) have announced the establishment of the Malaysia International Islamic Financial Centre (MIFC) Leadership Council. The Council will provide industry stewardship to enhance Malaysia’s proposition as a global marketplace and as an international gateway for Islamic finance. 

The MIFC Leadership Council will provide thought leadership as well as drive strategy formulation and monitoring industry initiatives to solidify Malaysia’s leading position in Islamic finance. It is expected to catalyse industry developments towards nurturing new ideas, deepen and diversify strategic linkages with international partners and strengthen MIFC global advocacy. 

Appointed for a term of three years, the Council members will be guided by national strategic development plans, including BNM’s Financial Sector Blueprint 2022 - 2026 and the SC’s Capital Market Masterplan 3 (CMP3). Tan Sri Azman Mokhtar will lead the Council as the Chairman, with council members comprising prominent local and international industry figures as well as representatives from BNM and SC. 

In undertaking its mandates, the Council will leverage the expertise of and collaborate with experts from the financial, corporate and academic fraternity as well as relevant authorities and agencies, to advance areas of mutual interest and support deliberation of industry’s initiatives.

Emerging Leader Prize and Impact Challenge Prize 2022 winners announced

Bank Negara Malaysia (BNM) and the Securities Commission Malaysia (SC) have shared the winners’ list for the Emerging Leader Prize and the Impact Challenge Prize in conjunction with The Royal Award for Islamic Finance 2022. 

The Impact Challenge Prize was awarded to duithape and Pod for their innovative solutions in Islamic finance. The prize recognises digital and innovative solutions based on Islamic finance principles that aim to improve the economic and social resilience of financially-impacted communities worldwide. 

This prize is jointly organised with the World Bank Group Inclusive Growth and Sustainable Finance Hub in Malaysia and the Malaysia Digital Economy Corporation (MDEC). The organisers received 50 applications from 14 countries. Twenty-five teams were then shortlisted to join an Accelerator Programme, after which the two winners were selected. 

Duithape, with roots in Indonesia, is a biometric-based mass payment system focusing on the unbanked. The digital payment system enables financial providers to disburse shari’ah-compliant microfinancing via a cashless in-merchant transaction to micro and SME borrowers, including those in remote areas. 

Pod is a financial wellbeing platform for gig workers and the underserved in Southeast Asia. This Malaysian solution helps users save money and access shari’ah microfinancing and financial products. The platform also uses artificial intelligence (AI) to build credit records for borrowers that give them better access to financing products from banks. 

The Emerging Leader Prize recognises young international talent who have made outstanding contributions in advancing innovative ideas in the field of Islamic finance. The inaugural prize was awarded to Umar Abdullah Mahmud Munshi, the co-founder and Group MD of Ethis Group. 

Ethis is involved in fintech, impact investment, and Islamic crowdfunding platforms and has facilitated investments from over 50 countries to fund small and medium enterprises (SMEs) and social housing projects. 

The Islamic finance community widely sees Umar as a pioneer in fintech and crowdfunding for Islamic finance. He is the president of the Islamic Fintech Alliance founders' group, a global group that encourages collaboration and learning among members, from more than 10 countries. Umar also serves in numerous advisory capacities to advance Islamic social finance, community empowerment, and social enterprises.

World Integrated Supply Ecosystem signs MoU in Thailand for halal-related activities

Integrated Media Technology (IMTE)'s subsidiary World Integrated Supply Ecosystem (WISE) has entered into a memorandum of understanding with the Central Islamic Council of Thailand (CICOT), the Halal Standards Institute of Thailand and the Halal Science Center Chulalongkorn University Thailand to collaborate in halal affairs including establishing standards, inspection, certification, halal forensic science laboratory and research exchanges.

The Thai partners are well placed in Thailand to identify Thai companies for collaboration in purchasing process, quality control, risk assessment, and operation management. Under the terms of the agreement, they will actively provide and assist WISE in procuring halal products in Thailand. In addition, all parties will jointly promote halal products through online platform events and trade promotions, as well as on organising joint academic events such as online training courses, conferences and seminars.

Xiaodong Zhang, IMTE's CEO said, "Thailand is one of the world's most important food producers with huge production and export potential for halal products. We look forward to working with these three esteemed organisations to develop Thailand as one of our key strategic sourcing channels.

"This MOU lays the foundation for sourcing an array of halal products to our European distributors and will boosted our halal business in Southeast Asia and the world."

Hilton Malaysia launches Jelajah Selera campaign for Ramadhan

Hilton is reigniting their global To New Memories campaign with a Malaysia-based follow-up to facilitate the reconnection of people in line with Ramadhan traditions. 

Hilton debuted To New Memories last year. The campaign is built on research insights that show consumers crave reconnections with family and friends, and are inspired by travel memories. 

The brand will be offering special room and dining packages, changing breakfast hours to accommodate dawn prayers. Prayer mats, the Quran, and prayer timetables can be arranged for guest rooms upon request. Guests can also enjoy Ramadhan-inspired turn-down amenities such as complimentary dates in guest rooms and more. 

All 11 outlets nationwide will partake in the traditions of iftar (breaking of fast at sunset) and suhoor (the predawn meal) with a dinner buffet highlighting Malaysia's culinary heritage plus other Asian specialties. 

The Jelajah Selera campaign runs from April to May 3 and offers guests themed buffets, takeaway specials, in-room suhoor dining, barbeque buffets, and more. 

"Cherished family memories are at the heart of Hilton. We want guests to know that Hilton and our Team Members are ready to fully facilitate connection with loved ones during the month of Ramadhan," said Eugene Oelofse, Marketing & Communications Director - Malaysia, Philippines, Sri-Lanka. 

Details:

Participating hotels include Hilton Kuala Lumpur, Hilton Petaling Jaya, Hilton Kuching, Hilton Kota Kinabalu, DoubleTree by Hilton Kuala Lumpur, DoubleTree by Hilton Johor Bahru, DoubleTree by Hilton Melaka, DoubleTree Resort by Hilton Penang, Hilton Garden Inn Puchong, Hilton Garden Inn Jalan Tuanku Abdul Rahman North and Hilton Garden Inn Jalan Tuanku Abdul Rahman South, and DoubleTree by Hilton Putrajaya Lakeside.

Book new memories directly with Hilton through any official Hilton website or call centre, the Hilton Honors app, or at a Hilton property. Hilton Honors members enjoy up to 25% in discounts.

Source: Hilton. The Jelajah Selara campaign in Malaysia is a take-off from the existing To New Memories campaign.