Private jet to join superyacht in 1MBD asset seizures
Authorities eye $35m jet bought by fugitive financier Jho Low
Malaysia
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Malaysia life insurer inks digital distribution deal
Gibraltar BSN Life is to boost its distribution management operation in Malaysia by partnering with Majesco Distribution Management and Digital Solutions.
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Malaysia readies robo-adviser licence
Malaysia’s regulator has provided details on applying for a robo-advisory asset manager licence, after first announcing the plan in 2017.
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Holborn Assets in Malaysia push
UAE-based international advice company Holborn Assets has entered the Malaysia market with the acquisition of Kuala Lumpur-based Greenwood Private Wealth Management.
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Foreign insurers forced to meet Malaysian 70% ownership cap
Insurance companies in Malaysia are looking to sell just under a third of their local businesses to comply with a 70% cap on foreign ownership.
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Financial adviser numbers surge in Malaysia
The number of firms engaged in financial planning in Malaysia has increased by 45% since 2015, while the number of licensed financial planners has grown by around 23%, according to Ahmad Fairuz Zainol Abidin, Malaysia’s Securities Commission deputy chief executive.
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Malaysia joins fintech race
A fintech accelerator programme, Super Charger, has teamed up with Standard Chartered Bank and Allianz to help foster and develop Malaysia’s fintech market.
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Abu Dhabi inks two partnerships with Malaysian regulators
The financial regulator of the Abu Dhabi Global Market (ADGM) has signed partnership agreements with its two financial services counterparts based in Malaysia’s financial hub, Labuan.
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UAE ambassador to America linked to Malaysian 1MDB scandal
The UAE ambassador to the US has been caught up in the international scandal involving Malaysian sovereign wealth fund 1MDB, after reports that companies connected to him received millions of dollars allegedly stolen from the fund.
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Supermodel Kerr hands over $8m in jewellery linked to 1MDB
Australian supermodel Miranda Kerr has handed over $8.1m (£6.4m, €7.2m) worth of jewellery to US authorities that she allegedly received from former boyfriend Jho Low, a person of interest in the 1MDB scandal.
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Singaporean firm to build platform for Malaysia’s life insurers
A unit of Singapore-based tech firm Silverlake Axis has won a contract to develop a digital platform for life insurance and takaful providers in Malaysia.
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US seeks recovery of $1.7bn from scandal-hit 1MDB fund
The US Department of Justice (DOJ) is working to recover around $1.7bn (£1.3bn, €1.5bn) in assets linked to an international conspiracy to launder funds misappropriated from Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MDB).