Money

by ALISSYA ZUNIZAM

THE Healthcare Partners Protocol & Solutions Committee (HPPSC) has implemented two initiatives aimed at improving healthcare claims management and communication, while advancing a broader package of reforms across Malaysia’s healthcare ecosystem.

In a joint statement today, the committee said a dedicated “doctor-to-doctor” hotline, operational since April 30, facilitates direct discussions between medical practitioners and insurers and takaful operators (ITOs) on claims enquiries, treatment pathways and the use of new technologies or drugs.

HPPSC has also established a governance framework to enhance transparency in the review and appeal process for healthcare providers participating in cashless facility arrangements under medical and health insurance and takaful (MHIT) products.

In addition, HPPSC is developing measures to improve operational efficiency and consistency in claims management, including guidance on treatments that fall outside existing clinical practice guidelines and recommendations for assessing emerging medical technologies such as robotic surgery, genetic testing and new cancer therapies.

Efforts are also underway to align cancer drug lists with the Health Ministry’s prescribed formulary and improve consistency in coverage decisions across insurers and takaful operators.

Life Insurance Association of Malaysia (LIAM) CEO Mark O’Dell said the initiatives are aimed at strengthening communication, improving efficiency and enhancing transparency across the healthcare ecosystem.

“HPPSC reflects what can be achieved when all stakeholders across the healthcare ecosystem come together with a shared purpose,” he said.

HPPSC is also working to streamline the guarantee letter issuance process to reduce administrative delays, improve coordination among healthcare stakeholders and enhance patients’ experience during hospital admissions and treatment.

The committee brings together representatives from the Malaysian Medical Association (MMA), the Association of Private Hospitals Malaysia (APHM), the Life Insurance Association of Malaysia (LIAM), the Malaysian Takaful Association (MTA), insurers, takaful operators and third-party administrators (TPAs), with observers from the Ministry of Health (MOH) and Bank Negara Malaysia (BNM). It is co-chaired by MMA and LIAM, with the support of Persatuan Insurans Am Malaysia (PIAM) and MTA. 

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THE ringgit opened higher against the US dollar today, recovering from yesterday’s sharp decline amid cautious market sentiment following the US Federal Reserve’s (Fed) latest policy decision.

At 8 am, the local currency strengthened to 4.1130/1225 against the greenback from 4.1145/1195 at Thursday’s close.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US Dollar Index remained elevated at 100.85 points following the Federal Open Market Committee’s (FOMC) decision, with investors focusing on the Fed’s interest rate projections.

“The market appears to be fixated on the Fed staff’s projections, which suggest the US central bank could raise the federal funds rate by 25 basis points later this year.

“Despite this, risk appetite improved in global equity markets following reports of a peace agreement between the US and Iran, which could pave the way for the reopening of the Strait of Hormuz,” he told Bernama.

Mohd Afzanizam said the development may help ease concerns over global oil supply disruptions, potentially leading to lower crude oil prices and more moderate inflationary pressures worldwide.

“Essentially, the news would signal less pressure for central banks to tighten their monetary policies, but the lack of forward guidance in the FOMC statement has led the market to take a conservative stance.

“Yesterday, the ringgit weakened against the greenback by 1.29 per cent, and it appears that the depreciation was rather excessive compared with other regional currencies. The ringgit could stabilise today after experiencing a sharp depreciation,” he added.

At the opening, the ringgit was firmer against a basket of major currencies.

It appreciated against the Japanese yen to 2.5504/5564 from 2.5588/5620 at Thursday’s close, improved versus the euro to 4.7135/7244 from 4.7222/7280, and strengthened against the British pound to 5.4304/4429 from 5.4476/4542 previously.

Against regional currencies, the ringgit traded higher across the board, except against the Philippine peso, where it was little changed at 6.79/6.81 from 6.79/6.80 at Thursday’s close.

The local note gained against the Thai baht to 12.5435/5801 from 12.5611/5809 at yesterday’s close, rose versus the Indonesian rupiah to 231.1/231.7 from 231.2/231.5 previously, and was higher against the Singapore dollar to 3.1874/1950 from 3.1898/1939. — BERNAMA

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KUALA LUMPUR — The decision to waive the RM1 fee for interbank cash withdrawals at Automated Teller Machines (ATMs) and Smart Recycler Machines (SRMs) from July 1 has been widely welcomed by consumers and industry stakeholders, saying the move will benefit millions of bank users and support greater financial inclusion.

Health Ministry administrative officer Nurul Aisyah Mohd Noor, 34, said that although the charge may appear minimal, the savings would accumulate for consumers who frequently use ATMs outside their bank’s network.

“Not everyone has easy access to their own bank’s ATM, especially when travelling or during emergencies. Removing the fee gives consumers greater flexibility and convenience,” she told Bernama.

Nurul Aisyah said the move reflects a better understanding of consumers’ needs, particularly as households continue to cope with rising living costs. She also hoped banks would continue reviewing other service charges to ensure basic banking services remain affordable and accessible to all Malaysians.

Sales executive Lim Wei Jian, 38, also welcomed the move, saying it would benefit consumers who often rely on ATMs operated by other banks near their workplace. 

“My salary account is with one bank, but the nearest ATM to my office belongs to another bank. Previously, I would think twice before making a withdrawal because of the extra charge. With the fee removed, it will be more convenient and cost-effective,” he said.

Technician R. Karthikeyan, 42, said the waiver would particularly benefit residents in suburban areas where ATM options are limited.

“The ATM closest to my home is not from my bank, so I usually end up paying the RM1 charge whenever I need cash urgently. It may seem like a small amount, but over time, the charges add up. This is a positive move for ordinary consumers,” he said.

The Federation of Malaysian Consumers Associations (FOMCA) also welcomed the decision, describing it as a significant win for consumers.

FOMCA chief executive officer Dr Saravanan Thambirajah said the move removes an unnecessary cost imposed on consumers when accessing their own money. 

He said the waiver would particularly benefit consumers in rural and semi-rural areas, senior citizens and those with limited access to their own bank’s ATM network.

“Consumers will now have greater flexibility to withdraw cash from any participating ATM without worrying about additional charges,” he said.

Saravanan said FOMCA had consistently advocated the removal of the fee and hoped the waiver would become a permanent policy.

“Access to basic banking services should be affordable, convenient and inclusive for all consumers,” he said, adding that the decision demonstrated that consumer interests could be prioritised while supporting greater financial inclusion and enhancing the overall banking experience.

Meanwhile, Sunway University Professor of Economics Dr Yeah Kim Leng described the abolition of the RM1 fee as a positive move that would benefit consumers while helping to ease living costs. 

He said the removal of the fee sends a positive signal to the public and encourages greater use of ATM banking services.

“It will also help reduce reliance on counter services, leading to improved banking efficiency and greater convenience for customers,” he told Bernama.

Yeah said the measure demonstrates how small cost savings can collectively benefit millions of banking customers nationwide. — BERNAMA

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KUALA LUMPUR — The ringgit opened lower against the US dollar on Thursday as sentiment turned cautious after the US Federal Reserve (Fed) adopted a hawkish tone, driving US Treasury yields higher.

At 8 am, the local currency weakened to 4.0730/0820 against the greenback from 4.0665/0700 at Tuesday’s close.

The market was closed on Wednesday for the Awal Muharram public holiday.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US Dollar Index (DXY) rose 0.85 per cent to 100.382 points after the Federal Open Market Committee (FOMC) signalled a more hawkish monetary policy outlook.

“It appears the Fed is likely to raise the federal funds rate by 25 basis points this year, based on its latest quarterly projections, while the FOMC’s statement underscored that price stability remains its primary focus.

“Two-year US Treasury yields rose 13 basis points to 4.18 per cent. Against this backdrop, the ringgit is expected to remain under pressure today as the US dollar is likely to stay well supported by the Fed’s latest decision,” he told Bernama.

Meanwhile, Mohd Afzanizam said reports of an interim agreement between the United States and Iran to end the conflict and reopen the Strait of Hormuz had weighed on crude oil prices.

“WTI and Brent crude are currently trading at US$76.06 and US$79.55 per barrel, respectively. While lower oil prices could provide some support to broader market sentiment, the Fed’s hawkish stance is likely to remain the dominant market driver,” he added.

At the opening, the ringgit was mostly higher against a basket of major currencies.

It was almost unchanged against the Japanese yen at 2.5360/5417 from 2.5360/5384 at Tuesday’s close, strengthened against the British pound to 5.4175/4295 from 5.4552/4599, and appreciated versus the euro to 4.6868/6972 from 4.7175/7216.

Against regional currencies, the local note was mixed.

It rose against the Thai baht to 12.4518/4870 from 12.5027/5192 at Tuesday’s close and strengthened against the Singapore dollar to 3.1623/1695 from 3.1722/1752.

However, it was little changed against the Indonesian rupiah at 229.3/229.9 from 229.3/229.7 and the Philippine peso at 6.74/6.76 from 6.74/6.75. — BERNAMA

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Its implementation remains highly dependent on human behaviour, commitment and emotional discipline 

by SHAUQI WAHAB 

AS FINANCIAL planning enters a new era shaped by artificial intelligence (AI), digital innovation and evolving consumer expectations, the greatest challenge facing financial planners is no longer creating sophisticated financial plans; it is ensuring clients follow through with them. 

Coreplus Advisory Sdn Bhd licensed financial planner Dr Selina Dang said the industry has moved beyond convincing Malaysians about the importance of financial planning, where the focus has shifted towards helping clients turn well-designed strategies into meaningful financial outcomes. 

“The biggest challenge is the implementation gap. The real test of financial planning today is not how impressive or how good your plan looks, but whether the client can act on it and stay with it,” she told The Malaysian Reserve (TMR) during the Financial Planning Association of Malaysia (FPAM) Annual Signature Financial Planning Symposium 2026 recently. 

The symposium’s theme, From Blueprint to Reality, reflected this growing focus on execution rather than just waiting or following the crowd. 

While financial planning tools and AI-powered platforms have made it easier to generate financial recommendations, Dang explained that implementation remains highly dependent on human behaviour, commitment and emotional discipline. 

She noted that Malaysians today have access to unprecedented levels of financial information through online platforms, social media and financial influencers. 

The rise of ‘finfluencers’ prompts the SC to strengthen oversight of online financial advice

While this has improved financial awareness, it has also created new challenges as individuals struggle to distinguish reliable guidance from misinformation. 

The rise of “finfluencers” has further complicated the landscape, prompting regulators such as the Securities Commission Malaysia (SC) to strengthen oversight on financial advice shared through digital channels. 

Dang stressed that while tech can support financial education, professional guidance remains crucial when individuals face complex financial decisions. 

“Financial planners today are not only expected to write plans. We must also handhold our clients, be their coach and stand beside them throughout their financial journey,” she explained. 

The role of behavioural coaching has become increasingly important as financial planners help clients navigate market volatility, information overload and emotional reactions to economic developments. 

Recognising this shift, the Certified Financial Planner (CFP) programme is set to place greater emphasis on the psychology of financial planning, equipping future practitioners with a deeper understanding of client behaviour and decision-making patterns. 

Dang reiterated that understanding a client’s mindset, values and habits is becoming just as important as technical financial expertise. 

She described this as the “qualitative side” of financial planning, which seeks to bridge the gap between financial knowledge and actual behaviour. 

The rapid advancement of AI is also reshaping client expectations. Consumers increasingly expect financial services to be faster, more transparent and highly personalised.

Participants at the FPAM Annual Signature Financial Planning Symposium 2026 (Source: Financial Planning Association of Malaysia’s Linkedin)

For financial planners, AI has become a valuable tool for improving efficiency, from automating meeting notes and documentation to generating sophisticated financial projections and scenario analyses. 

Newcomers in the investment game are currently using AI tools as alternatives or to substitute the role of an experienced licensed financial planner. 

Dang acknowledged that AI has significantly reduced administrative burdens, allowing advisors to focus more on strategic discussions with clients. 

However, she cautioned against relying solely on tech when making important financial decisions.

As she described, though AI has the capabilities to process information quickly, it still misses something crucial when individuals want to invest, which is the vast experience and the human touch of a financial advisor.

“AI can process information very quickly, but clients still need a human advisor. They still need the human touch to help them make decisions in context.” 

While emerging trends such as digital assets and tokenisation are attracting growing investor interest, Dang highlighted that the fundamentals of financial planning remain unchanged. 

Regardless of the investment vehicle, factors such as risk tolerance, diversification, liquidity and cash flow management should remain the foundation of every financial decision. 

On the broader issue of financial resilience, Dang believes Malaysia still faces structural challenges in translating financial knowledge into positive financial habits. 

Although financial literacy initiatives have gained momentum over the past decade, she argued that awareness alone is insufficient. 

Drawing from her previous research and presentations, she highlighted the need to move beyond measuring financial literacy solely through knowledge. 

Instead, greater attention should be paid to behavioural outcomes such as saving patterns, spending habits, debt management and long-term investment discipline. 

“Financial literacy is not only about financial knowledge or knowing more. It is about being able to make better decisions consistently,” she said. 

Dang also reiterated calls for earlier financial education in schools, arguing that financial management skills should be introduced alongside other core subjects to better prepare young Malaysians for adulthood. 

Kenanga Investors Bhd is the platinum sponsor for the symposium

When discussing customised financial planning strategies, she acknowledged that different generations face unique financial priorities and challenges. 

Younger individuals entering the workforce should focus on cash flow management, debt control and establishing early investment habits. 

Those in the “sandwich generation”, which are typically aged between 30 and 45 must balance the financial demands of raising children, supporting ageing parents and building retirement savings simultaneously. 

For older Malaysians approaching retirement, priorities shift towards retirement income planning, healthcare costs, longevity risks, legacy planning and wealth transfer. 

“Good advice for clients is never one-size-fits-all,” Dang said. 

She also stressed the importance of tailoring strategies to an individual’s life stage and goals. 

As the financial planning profession continues to evolve, she believes the future lies in combining tech-driven efficiency with deeper human engagement. 

While AI can enhance analysis and productivity, lasting financial success will still depend on meaningful advisor-client relationships and sustained behavioural change. 

Summing up the key message she hoped participants would take away from the symposium, Dang said modern wealth planning must extend beyond technical recommendations. 

“The future of financial planning is about helping clients bridge the gap between what they know and what they do. 

“It’s not just about better plans, but better implementation, better conversations and better client outcomes,” she added. 

Her message encapsulates the growing consensus within the profession, that in an increasingly digital financial world, successful wealth planning is ultimately measured not by the quality of the blueprint, but by the ability to transform that blueprint into reality. 

• This article first appeared in The Malaysian Reserve weekly print edition

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KUALA LUMPUR — The ringgit closed lower against the US dollar on Tuesday as investors remained cautious following the Bank of Japan’s (BOJ) decision to raise interest rates. 

At 6pm, the local note fell to 4.0665/0700 versus the greenback from 4.0485/0525 at Monday’s close.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the BOJ’s decision to raise its policy rate prompted investors to remain cautious despite declining crude oil prices.

The Japanese central bank increased its policy rate by 25 basis points to 1.00 per cent, as widely expected, marking the highest level since 1995, he noted.

“The decision was premised on rising inflation and improving economic growth conditions, which make the extremely accommodative monetary policy increasingly inappropriate,” Mohd Afzanizam told Bernama. 

At the close, the ringgit was lower against a basket of major currencies.

It depreciated against the Japanese yen to 2.5360/5384 from 2.5283/5309 at Monday’s close, weakened versus the British pound to 5.4552/4599 from 5.4355/4409 yesterday, and slipped vis-a-vis the euro to 4.7175/7216 from 4.6987/7033.

The local note also eased against regional currencies.

It weakened against the Thai baht to 12.5027/5192 from 12.4294/4474 at Monday’s close, slid versus the Indonesian rupiah to 229.3/229.7 from 228.5/228.9 yesterday, dropped vis-a-vis the Philippine peso to 6.74/6.75 from 6.69/6.70, and declined against the Singapore dollar to 3.1722/1752 from 3.1580/1613. — BERNAMA

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THE ringgit opened higher against the US dollar on expectations that the US Federal Reserve (Fed) will keep interest rates unchanged amid easing inflation concerns and lower US Treasury yields.

At 8 am, the local currency strengthened to 4.0455/0550 against the greenback from yesterday’s close of 4.0485/0525.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said crude oil prices continued to decline as expectations grew over a possible peace agreement between the United States and Iran on June 19, which could pave the way for the reopening of the Strait of Hormuz.

He said West Texas Intermediate (WTI) and Brent crude prices fell 4.87 per cent and 4.24 per cent, respectively, to US$80.75 and US$83.63 per barrel, while the 10-year US Treasury yield retreated below 4.50 per cent, signalling easing inflation risk premiums.

“Hence, such a backdrop could influence Federal Open Market Committee members as they deliberate on their interest rate decision on June 16 and 17,” he told Bernama.

Mohd Afzanizam said the ringgit could extend its gains today after closing 0.18 per cent higher on Monday, supported by optimism over a potential US-Iran peace deal, although investors remain cautious ahead of the expected signing of the agreement on June 19.

At the opening, the ringgit strengthened against a basket of major currencies.

It appreciated against the Japanese yen to 2.5245/5306 from 2.5283/5309 at Monday’s close, strengthened against the British pound to 5.4270/4398 from 5.4355/4409, and rose versus the euro to 4.6891/7002 from 4.6987/7033.

Against regional currencies, the local note was mostly higher, except against the Philippine peso, which was little changed at 6.69/6.71 compared with 6.69/6.70 at Monday’s close.

The ringgit improved against the Thai baht to 12.4228/4601 from 12.4294/4474 at yesterday’s close, appreciated against the Indonesian rupiah to 228.4/229.1 from 228.5/228.9, and strengthened versus the Singapore dollar to 3.1534/1611 from 3.1580/1613.

— BERNAMA

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KUALA LUMPUR — The ringgit closed higher against the US dollar on Monday as risk sentiment improved on news that the United States and Iran will sign a peace deal on Friday.

At 6 pm, the local note rose to 4.0485/0525 against the greenback from Friday’s close of 4.0555/0600.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the looming peace agreement between the US and Iran had improved market sentiment and supported the ringgit.

“Positive developments in West Asia, particularly the growing momentum in peace talks between the US and Iran, have boosted market sentiment, with both countries expected to sign a memorandum of understanding (MOU) on a peace deal on June 19.

“The deal would pave the way for the reopening of the Strait of Hormuz, allowing the flow of crude oil, liquefied natural gas (LNG), and other commodities such as aluminium and urea,” he noted. 

Mohd Afzanizam said that the anticipation of a restoration in oil supplies had improved risk appetite among traders and investors. “To some degree, this could lead to moderate inflation where the global central banks would not resort to further monetary tightening,” he added. 

At the close, the ringgit was mostly higher against a basket of major currencies.

It appreciated against the Japanese yen to 2.5283/5309 from 2.5334/5364 at Friday’s close and strengthened versus the British pound to 5.4355/4409 from 5.4429/4489.  However, it slipped against the euro to 4.6987/7033 from 4.6979/7031.

Against regional currencies, the local note was mostly lower.

It weakened against the Thai baht to 12.4294/4474 from 12.4105/4288 at Friday’s close and depreciated versus the Indonesian rupiah to 228.5/228.9 from 227.0/227.4.

The ringgit also eased against the Philippine peso to 6.69/6.70 from 6.67/6.68. However, it climbed against the Singapore dollar to 3.1580/1613 from 3.1602/1640. — BERNAMA

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THE ringgit extended its upward momentum, opening firmer on Monday against the US dollar and other major currencies, supported by improved risk sentiment following signs of easing geopolitical tensions.

At 8 am, the local note rose to 4.0430/0500 against the greenback from last Friday’s close of 4.0555/0600.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said news on the likely reopening of the Strait of Hormuz following the agreement between the United States and Iran on a peace deal to be signed on June 19 has boosted market sentiment.

“WTI and Brent crude oil prices have already fallen by more than four per cent, with Brent crude currently trading at US$83.83 per barrel.

“My sense is that the ringgit is moving towards the RM4.00 level against the US dollar. It may not happen immediately, but a sub-RM4.00 level would be consistent with the ringgit’s fair value given the prevailing macroeconomic conditions and the resilience of Malaysia’s economic growth,” he told Bernama.

At the opening, the local currency strengthened against a basket of major currencies. 

It appreciated versus the Japanese yen to 2.5275/5320 from 2.5334/5364 at last Friday’s close, climbed against the British pound to  5.4374/4468 from 5.4429/4489 and improved vis-a-vis the euro to 4.6911/6992 from 4.6979/7031 previously.

The ringgit was also better against regional peers.

It gained versus the Singapore dollar to 3.1554/1611 from 3.1602/1640 last Friday and jumped against the Thai baht at 12.4015/4298 compared to 12.4105/4288 previously.

It also recovered vis-a-vis the Indonesian rupiah to 226.3/226.8 from 227.0/227.4 and was up versus the Philippine peso to 6.65/6.66 from 6.67/6.68 previously. — BERNAMA 

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KUALA LUMPUR — The ringgit opened higher against the US dollar and was mostly firmer against regional peers on Friday amid easing geopolitical tensions in West Asia, which lifted sentiment towards the local note.

At 8am, the local currency appreciated to 4.0505/0615 against the greenback from Thursday’s close of 4.0650/0690.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said United States President Donald Trump had indicated that a deal with Iran was close to being finalised, which could lead to the resumption of shipping activities in the Strait of Hormuz.

“Meanwhile, crude oil prices such as West Texas Intermediate (WTI) and Brent fell by 1.97 per cent and 2.92 per cent to US$85.98 per barrel and US$90.38 per barrel, respectively.

“The US Dollar Index (DXY) was also down by 0.28 per cent to 99.672 points as a result. In addition, US initial jobless claims rose for the third week in a row to 229,000 last week,” he told Bernama.

The local currency traded mostly lower against a basket of major currencies. 

It climbed versus the Japanese yen to 2.5293/5364 from 2.5321/5347, but depreciated against the British pound to 5.4337/4485 from 5.4325/4378, and slid vis-a-vis the euro to 4.6889/7016 from 4.6878/6924 at Thursday’s close.

The ringgit was mostly higher against regional peers.

It rose versus the Singapore dollar to 3.1541/1632 from 3.1556/1589, was up against the Indonesian rupiah to 225.1/225.8 from 225.9/226.2, and strengthened against the Philippine peso to 6.60/6.62 from 6.62/6.63 previously.

However, the local note eased against the Thai baht to 12.3623/4023 from 12.3331/3501 on Thursday. — BERNAMA

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