Latest news with #BankSimpananNasional
The Sun
2 hours ago
- Business
- The Sun
STR phase 3 payments for 8.6 million recipients start tomorrow
PUTRAJAYA: The government will begin disbursing Phase Three of the Rahmah Cash Assistance (STR) payments tomorrow, allocating RM2 billion to ease the cost of living for low-income households. Prime Minister Datuk Seri Anwar Ibrahim, who is also Finance Minister, stated that 8.6 million recipients will receive up to RM650 in aid under STR Phase Three. This marks an increase of 300,000 recipients compared to the 8.3 million beneficiaries in Phase One last January. Anwar attributed the rise in STR recipients to the MADANI government's initiative to accept new applications and appeals year-round. 'The continuous application and appeal process reflects the MADANI government's commitment to ensuring no eligible individual is left out,' he said. 'Beyond cash aid, STR empowers recipients to achieve financial independence, aligning with the MADANI Economy's goal of equitable prosperity.' Payments will be credited directly to bank accounts or distributed via Bank Simpanan Nasional (BSN) for eligible recipients. The Finance Ministry advised those not listed in the STR database to submit applications for verification. Eligibility status and frequently asked questions (FAQ) can be checked on the official STR portal at - Bernama
Sinar Daily
2 hours ago
- Business
- Sinar Daily
8.6 million Malaysians to receive STR Phase 3 starting tomorrow
The payout involves an allocation of RM2 billion to ease the cost-of-living burden for low-income households. 11 Aug 2025 09:51am A total of 8.6 million Malaysians will receive payments of up to RM650 under the Rahmah Cash Contribution (STR) Phase 3, beginning tomorrow. Photo for illustrative purposes only PUTRAJAYA - The government will begin disbursing payments for the Phase Three Rahmah Cash Contribution (STR) starting tomorrow, allocating RM2 billion to ease the cost of living for low-income households under the Madani government's initiative. In a statement today, Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim announced that 8.6 million recipients will receive up to RM650 each through STR Phase Three, an increase of 300,000 recipients compared to the 8.3 million beneficiaries in Phase One last January. The rise in recipients reflects the government's decision to open new applications and appeals throughout the year to ensure aid reaches all eligible individuals. "The year-round application and appeal process demonstrates the Madani government's commitment to its responsibility in improving the welfare of the majority, leaving no one behind in benefiting from the nation's wealth. "More than just cash assistance, STR empowers recipients to achieve financial independence, helping us realise the equality envisioned in the Madani Economy," he said. Prime Minister Datuk Seri Anwar Ibrahim. Bernama FILE PIX Anwar said that the Phase Three payments will be made to existing and newly registered recipients in the STR database, either through direct bank account credits or cash disbursements via Bank Simpanan Nasional, in stages according to their eligibility categories. Meanwhile, the Finance Ministry stated that applicants whose names are not found in the STR database must submit an application to allow verification of their eligibility for the aid. Frequently Asked Questions (FAQ) and eligibility status checks are available on the official STR portal at - BERNAMA
New Straits Times
3 hours ago
- Business
- New Straits Times
8.6mil to receive up to RM650 in Rahmah cash aid tomorrow
KUALA LUMPUR: About 8.6 million people will receive up to RM650 in cash aid under the third phase of the Sumbangan Tunai Rahmah (STR) initiative, which begins tomorrow. The Finance Ministry said the payments, with an allocation of RM2 billion, will be credited into the bank accounts of existing and new eligible recipients. The aid will also be distributed in stages as cash through Bank Simpanan Nasional (BSN), depending on eligibility. The number of STR recipients has increased by 300,000 to 8.6 million people after the government opened new applications and appeals throughout the year to ensure all eligible citizens receive aid. "The year-round application and appeal process shows that the government takes its responsibility seriously to improve the well-being of its people and ensure no one is left behind," said Prime Minister Datuk Seri Anwar Ibrahim, who is also finance minister.
BusinessToday
30-07-2025
- Business
- BusinessToday
BNM Fines BSN RM995,000 For Weak Critical System Leading To Service Disruption
Bank Negara Malaysia has imposed an Administrative Monetary Penalty of RM995,000 on Bank Simpanan Nasional for non-compliance with critical technology resilience standards. The penalty, imposed on June 16, 2025, stems from prolonged disruptions to BSN's banking services that affected customers and counterparties. The central bank found BSN in breach of the Development Financial Institutions Act 2002, read in conjunction with Paragraph 10.32 of the Risk Management in Technology Policy Document (RMiT PD). This policy, which came into effect on June 1, 2023, mandates that financial institutions ensure their critical systems are designed for high availability. Specifically, it requires a cumulative unplanned downtime affecting user interfaces of not more than four hours on a rolling 12-month basis, and a maximum tolerable downtime of 120 minutes per incident. Between June 1, 2023, and October 31, 2024, BSN experienced multiple unplanned downtimes that exceeded these stipulated thresholds. The disruptions impacted essential banking services, including e-banking channels, Automated Teller Machines (ATMs), and both debit and credit card systems. BNM attributed BSN's non-compliance to lapses in executing its response and recovery processes to promptly restore the affected systems. BSN has since confirmed that it has undertaken necessary actions to enhance its recovery capabilities and strengthen its IT infrastructure. These measures are part of a multi-year technology infrastructure investment plan designed to prevent future non-compliance. The bank confirmed that it paid the imposed AMP of RM995,000 on June 25, 2025. Related
Malay Mail
30-07-2025
- Business
- Malay Mail
Three banks, RM7m penalties: BNM fines Bank Islam, Bank Rakyat and BSN for tech, anti-money laundering breaches
KUALA LUMPUR, July 30 — Bank Negara Malaysia (BNM) has imposed an administrative monetary penalty (AMP) totalling RM3.445 million on Bank Islam Malaysia Bhd (BIMB) for non-compliance with the Islamic Financial Services Act 2013 (IFSA) and the relevant policy documents. The relevant policy documents include Risk Management in Technology Policy Document (RMiT PD) and Anti-Money Laundering Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions Policy Document (AML/CFT and TFS for FIs PD), the central bank said in a statement today. BNM said BIMB paid RM1.70 million for the AMP imposed on May 29, 2025, for sanction screening breaches and RM1.745 million for the AMP imposed on June 30, 2025, for prolonged service disruptions. Separately, the central bank said it has imposed an AMP of RM2.85 million on Bank Kerjasama Rakyat Malaysia Bhd (BKRM) for non-compliance with the Development Financial Institutions Act 2002 (DFIA) and RMiT PD. It said BKRM paid RM2.85 million for the AMP imposed on June 26, 2025. Apart from that, BNM also said it has imposed an AMP of RM995,000 on Bank Simpanan Nasional (BSN) for non-compliance with the DFIA and RMiT PD. BSN paid RM995,000 for the AMP imposed on June 25, 2025, said BNM. — Bernama
