MaxMoney Welcomes on Board the New Governor of Bank Negara Malaysia

Datuk Nor Shamsiah Mohd Yunus has been confirmed as the new governor of Bank Negara Malaysia. She will replace Tan Sri Muhammad Ibrahim, who resigned from the top job earlier this month. Nor Shamsiah had worked with the central bank for 30 years before she left on Nov 15, 2016.

She takes over from Tan Sri Muhammad Ibrahim on June 15. After leaving Bank Negara, Nor Shamsiah joined the International Monetary Fund (IMF) in April last year where she was based in Washington DC. She was the assistant director of Monetary and Capital Markets Department there.

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MoneyConf Dublin, 2018

MaxMoney exhibited at MoneyConf 2018 Dublin, Ireland. We’re bridging the gap between customers and money services business by offering real-time transfers with the best rates. It was a great event with great companies exhibiting. We’ve met people from around the region who has shown interest in money services business and we’ve exchanged knowledge learning from the local authorities as well.

From our observation we do see the European region has a lot of potential for money services business to take off. This is due to high migrant workers that resides in the UK, Belgium and Dublin that needs fast remittance services from various service providers.

GROWTH SECTION : MaxMoney booth at MoneyConf

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Global Forum on Remittances, Investment & Development 2018 by Bank Negara

Members of the Max Money Fintech team attended sessions in the Global Forum for Remittance, Investment, and Development on the 8th of May 2018, and one of the sessions was titled “Remittance market in Asia-Pacific: Trends and Future Outlook”. The discussion had members of Worldremit, MoneyGram, Instarem, and Western Union as panellists, and they had diverse viewpoints in terms of the future of remittance.

Among the interesting things brought up by the panellists was how remittance providers can cut cost even within the traditional model, without the need for blockchain. There are various such opportunities in place within a business, it only depends on providers on whether they are willing to tweak certain aspects of the business to bring down cost for consumers. One remittance provider even managed to reduce service fees down to less than 1%! Another point the team found interesting is the opinion that the remittance industry may start incorporating the use of blockchain, if the business model proves sustainable.

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