Latest news with #Fozia
New Straits Times
27-05-2025
- Business
- New Straits Times
Boost Bank on reshaping banking services for everyday Malaysians
KUALA LUMPUR: Boost Bank is reshaping how banking works for everyday Malaysians by embedding financial services directly into its e-wallet platform, making access to banking faster, simpler and more inclusive. Boost Bank chief executive officer Fozia Amanulla said it began with a simple belief that banking should fit into people's lives, which inspired their move toward embedded banking. She added that for many Malaysians, especially those in underserved segments, traditional banking can feel distant with many steps, paperwork and barriers. "That's where embedded banking comes in as our goal was to reimagine this entirely to make financial tools available at the point of need, through platforms people already trust and use daily. "That's why from day one, we built Boost Bank directly into the Boost e-wallet ecosystem; a platform already used by millions of Malaysians every day. "It's about showing up in moments that matter - whether you're buying groceries, topping up mobile credit, or managing daily expenses - banking features are already there without needing to download another app or change how you live," she told Business Times in an interview. Fozia said the approach is effective, with nearly 80 per cent of users onboarding directly through the Boost e-wallet in a seamless and familiar experience. She said embedded banking goes beyond removing friction by enabling inclusion and empowerment, especially for underserved communities, through access to tools that once felt out of reach. "Take our Special Jars for example - customers can save while they shop, earning competitive rates starting from 3.3 per cent, in partnerships with names they trust like Mydin, CKS Retail, Bataras, Servay, and even through their telco usage with CelcomDigi. "We've even introduced lifestyle saving options with partners like EdgeProp (for first-time homebuyers) and ZUS Coffee (for coffee lovers looking to 'sip and save')," she added. Beyond individuals, Fozia said Boost is focused on SMEs and proud to be Malaysia's first homegrown digital bank offering direct SME financing, with close to RM150 million already disbursed. She said the company offers tailored term loan and revolving credit solutions designed for speed, flexibility, and minimal documentation. She noted that the average loan size is around RM300,000, and our customers range from hawkers to factory operators - all seeking financing that respects their time, context, and needs. Fozia said looking ahead, Boost is scaling this with a fully digital SME platform designed not just to offer financing, but to help businesses manage payments, cash flow, and operations in one place. She believes real inclusion is not just about providing access but also about ensuring continuity, sustainability and long-term success. "At the heart of everything we do is a mindset shift. Banking is no longer a place you go, but it's something embedded into your life. "When we remove friction and meet people where they are, banking transforms from a barrier into a bridge - one that empowers people and businesses to thrive. That's the future we're building at Boost Bank," she said.
New Straits Times
06-05-2025
- Business
- New Straits Times
Boost disburses nearly RM150mil in SME loans, eyes new digital platform
KUALA LUMPUR: Boost Bank has disbursed nearly RM150 million in financing to small and medium enterprises (SMEs), marking a key milestone since it began offering lending services to the segment. In a statement today, the bank said it is the first among Malaysia's five digital banks to introduce SME-focused financing products, aimed at improving access to credit for smaller businesses. "When we started offering SME financing, our mission was clear - to help business owners overcome the financing challenges they often face. "Reaching this milestone is not just about hitting a target. It is about showing what's possible when financing is made simple, accessible, and built around the real needs of business owners," said Boost Bank chief executive officer Fozia Amanulla. With typical loan sizes averaging RM300,000, Boost Bank said demand has been driven by its core SME financing products, including term loans and revolving credit facilities. The bank said several hundred SMEs across sectors such as wholesale, manufacturing, retail, construction, and food and beverage have tapped into the financing to support working capital needs, manage cash flow, and fund business expansion. Fozia said the strong loan uptake underscores the growing role of digital financial solutions in supporting business operations and improving credit access. "At Boost Bank, we are committed to supporting SMEs not just with financing, but also with the right tools and services to help them run and grow their businesses confidently in the digital age. "Looking ahead, Boost Bank will soon introduce a new digital platform designed especially for SMEs. It will go beyond financing to help small businesses manage their money," she added.
BBC News
27-02-2025
- General
- BBC News
Ramadan: Highnam boy, 10, 'excited' and nervous about taking part
As millions of Muslims around the world prepare for the holy month of Ramadan, 10-year-old Ayaan says he is both excited and nervous about taking part for the first time."I'm excited for the experience of actually doing it, but it's scary because we only eat two meals a day during Ramadan," he mother, Fozia, says he had some practice last year when he did not eat snacks or lunch while at his primary school in Highnam, near Gloucester. This year, she expects him to be more tired and to therefore struggle with his energy levels."Possibly the [lack of] food and water will affect you," Fozia says to Ayaan. "Because of that you will feel quite tired, so when you do come home from school it's absolutely fine to have a nap. School is quite a busy day." Fozia says that when she had a full-time job she would sleep in her lunch hour in order to re-energise. Last year, Ayaan's non-Muslim school friends asked him lots of questions during Ramadan about why he was not eating with them."Eventually, two of my friends asked how hard Ramadan was, what is it like not eating and drinking for 30 days. I told them we do eat two meals a day, otherwise we wouldn't survive. So they do ask me about it sometimes, and I do tell them."Ayaan says he does not get annoyed being asked about what he is doing. "I do like answering questions, but sometimes when I am really tired I say 'can you ask me later', because I don't want to be rude saying 'no I don't want to answer your questions'." Fasting during daylight hours, which is meant to encourage spiritual reflection, is just one aspect of Ramadan. Muslims will also pray five times a day and recite many parts of the Quran, as a way of deepening their relationship with God."During Ramadan, you increase your prayers, you read the Quran and I think you just naturally feel closer to God," says Fozia. "You don't actually feel like doing anything else, so it creates a stronger bond." What are Eid al-Fitr and Ramadan and how do Muslims mark them? For Ayaan, as he approaches his first Ramadan, it is the fasting that he thinks of first. "God's getting us to know how poor people feel. I'm not getting forced into doing it, I want to do it, I want to see what it's like."He does have lots of questions himself, such as how he will pray during the day while he is at school. His mother reassures him he will "make up for the missing one" when he gets feels praying five times a day will get easier for him as the weeks of Ramadan go by."The first time it might be a little bit hard, because you have to go from doing it occasionally to five times a day, every day, for the next 30 days. I think maybe on the third or fourth week I will get used to it."In the UK, Ramadan begins on Friday evening and will end on 30 March, followed by Eid al-Fitr, the "festival of breaking the fast".
