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Three main functions can be used, namely ATM (with various combinations of banking transactions), e-debit (online purchase payment) transactions at participating merchants and MEPS Cash (a stored-value card that can be used to pay at participating merchants). MEPS is a member of the Asian Payment Network (APN). [1]
The Chartered Bank of India, Australia and China (known as Chartered Bank), a British bank established in 1853 was established in Penang in 1875. It is the oldest bank branch in Malaysia, [3] and was the leading bank in colonial Malaya, [4] later, in 1969, merging with Standard Bank to form Standard Chartered Bank.
Malaysia has 16 fully-fledged Islamic banks including five foreign ones, with total Islamic bank assets of US$168.4 billion, which accounts for 25% of the Malaysia's total banking assets. [2] This in turn accounts for over 10% of the world's total Islamic banking assets.
Standard Chartered PLC is a British multinational bank with operations in wealth management, corporate and investment banking, and treasury services.Despite being headquartered in the United Kingdom, it does not conduct retail banking in the UK, and around 90% of its profits come from Asia, Africa, and the Middle East.
Southern Bank Berhad (SBB): founded as Southern Banking Ltd in 1965, starting out in Penang and expanded to Kuala Lumpur. Its products included wealth-management products, credit cards and loans for small and medium enterprises (SME). Bank Bumiputra Malaysia Berhad (BBMB), incorporated in 1965.
Standard Chartered India (officially Standard Chartered Bank India Branches) is a foreign branch of Standard Chartered, incorporated in the United Kingdom with limited liability. [1] It is considered as a foreign bank under the Banking Regulation Act, 1949 and thus is regulated by the Reserve Bank of India (RBI).
Standard Chartered Singapore (officially Standard Chartered (Singapore) Limited) is the Singapore based subsidiary of British banking and financial services company, Standard Chartered. Opening its first branch in 1859, the bank is one of the oldest in continuous operation in Singapore. [ 1 ]
The Bank for International Settlements signed an agreement with Central Bank of Malaysia, Bank of Thailand, Bangko Sentral ng Pilipinas, Monetary Authority of Singapore, and the Reserve Bank of India on 30 June 2024 as founding member of Project Nexus, a multilateral international initiative to enable retail cross-border payments.