YOUR PERFECT LEGAL COMPANION
A directive from Bank Negara Malaysia (“BNM”) stating that banks must immediately cease charging “loan documentation fees” on housing loans (for conventional loans) and housing financing (for Islamic financing) documentation took effect on 1 February 2023. Context Whenever a borrower…
There are a few types of insurances available when getting a home loan which can be confusing to new home owners. So what are the types of insurances available and what are the differences between them? Mortgage Reducing Term Assurance…
A friendly loan is a loan between two people based on mutual trust, for instance, between friends or family. Friendly loans, in common practice, is often informal and might lack documented agreements between the lender and borrower, and does not…
The COVID-19 pandemic has certainly affected our health. But on top of that, it affects the core thing which is more severe that health which is our ‘pocket’, the economic. Which affecting our ‘pocket’ in a way affects our health…
It’s possible to get a loan for commercial property, but the requirements and down payments are generally tougher. The scrutiny is more thorough and will highly impact the bank’s decision whether to give you a loan or not. Some items…
In Malaysia, there are two types of mortgage life insurance available: -Mortgage Reducing Term Assurance (MRTA) or Mortgage Decreasing Term Assurance (MDTA); and -Mortgage Level Term Assurance (MLTA) MRTA is a life insurance plan with decreasing sum assured over time,…
Debt Financing versus Equity Financing Debt financing is where a firm raises money for capital by selling debt instruments to investors. By lending money to a firm, the individuals or institutions become creditors and receive a promise that the principal…
Commencing from 27th February 2018, the new Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) policy guidelines for cryptocurrencies came into effect. The policy’s objective is to “ensure that effective measures are in place against money laundering and terrorism financing…
Moving Towards Interoperable Credit Transfer in Malaysia Credit transfer means a payment service which allows a payer to instruct the institution with which the payer’s account is held to transfer funds to a beneficiary. For example, it is common that…
On 14th Dec 2017, Bank Negara Malaysia (“BNM”) has issued for public consultation an exposure draft on the invocation of reporting obligations on cryptocurrency exchange business as “reporting institutions” under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities…
In the Western countries, Initial Coin Offerings (ICOs) have emerged as a popular new form of fundraising.
In Malaysia, it is quite common that we come across merchants setting minimum charges for card payments, or even impose a surcharge. Under black letter law, it is legal for them to do so?
Money laundering is an activity that enables criminals and drug dealers to disguise the proceeds of their crimes so that the fruits of their crimes can be enjoyed without jeopardizing their criminal activities.
The role of the central bank in Malaysia is entrusted with Bank Negara Malaysia.
The underlying principles that govern Islamic banking are mutual risk and profit sharing between parties, the assurance of fairness for all and the transactions are based on an underlying business activity or asset.
WHO IS A GUARANTOR? A guarantor is a person who agrees to repay the borrower’s debt in the event that the borrower default on agreed repayments. WHO CAN BE A GUARANTOR? In order to become a guarantor one must: Be at…