Twenty-eight years ago, on Merdeka Day in 1994, a new Malaysian bank was born. Allied Bank, subsequently renamed PhileoAllied Bank, began operating as a Malaysian-owned bank after taking over the single Kota Kinabalu (KK) branch of the UOB Bank in Malaysia from UOB Bank Group of Singapore
Twenty-eight years ago, on Merdeka Day in 1994, a new Malaysian bank was born. Allied Bank, subsequently renamed PhileoAllied Bank, began operating as a Malaysian-owned bank after taking over the single Kota Kinabalu (KK) branch of the UOB Bank in Malaysia from UOB Bank Group of Singapore.
Under both the Arbitration Act 1952 and the Arbitration Act 2005, parties have the freedom to determine the number of arbitrators for reference of their dispute. This article is part of a series on conducting arbitration in Malaysia, and, in particular, focuses on the requirements for the appointment of arbitrators, challenging and removing arbitrators and provisions relating to emergency arbitrators.
Former IGP: Security System For Malaysia’s Banking Industry Must Be Constantly Updated
(Image: The Star)
Former inspector-general of police (IGP), Tun Mohammed Hanif Omar has commented that the security system for the banking industry in Malaysia needs to be constantly updated with the latest technology to prevent hacks and intrusions on classified information.
Tun Mohammed Hanif said that although there is no specific or long-term solution to the issue, efforts should still be made to address such threats. “This (hacking of banking systems) is happening all over the world, even in the United States, China, Russia, as well as other countries. No one knows for sure (how to prevent hackers) from obtaining classified information. So, we have to ‘keep up-to-date firewall security’ systems and all this requires huge expenses to ensure the existing system is safe to use,” he stressed.