Celebrating 50 years of banking excellence

KUCHING: The Association of Banks in Malaysia (ABM) celebrated its 50th anniversary at the 52nd ASEAN Banking Council Meeting.
The event, which brought together regional banking leaders, policymakers, and dignitaries, including Finance Minister II Senator Datuk Seri Amir Hamzah Azizan, focused on the theme “Sustainability: Taking Action Now for Tomorrow.”
“The meeting underscored the collective commitment of ASEAN banking leaders to address shared challenges, including climate change, digital transformation, and financial inclusion,” ABM said in a statement.
“Key initiatives like cross-border payment systems, green financing frameworks, and shared digital infrastructure were highlighted as crucial for a more resilient and sustainable ASEAN financial community.”
Since its inception, ABM has played a pivotal role in Malaysia’s financial development.
The association has contributed to nation-building by supporting key infrastructure projects, promoting financial inclusion and sustainability, and shaping a robust banking ecosystem.
“One of our key achievements is the promotion of electronic payments, which saw a 21 per cent increase in e-payment transactions to 11.5 billion in 2023,” it said.
“We also drove financial inclusion through agent banking and digital platforms, ensuring better access for underserved communities and small businesses. Additionally, we spearheaded the industry-wide conversion of credit cards to chip technology and implemented 6-digit PINs for purchases.”
ABM chairman Datuk Khairussaleh Ramli said the association has served as a pillar of innovation and resilience, adapting to challenges and supporting communities and businesses for 50 years.
“Key milestones include the six-month loan moratorium during the COVID-19 pandemic, which provided relief to over eight million borrowers. We have also championed initiatives to combat financial fraud, supported the digitalization of banking services, and driven efforts toward financial literacy and inclusion.”
Looking ahead, ABM has identified four strategic priorities: social inclusion, digital and technological innovation, sustainable practices, and industry development and resilience.
The association aims to position ASEAN as a leader in sustainable finance and foster closer collaborations with regulators, industry players, and stakeholders.