Kuala lumpur: Bank customers who continue to incur the RM1 fee for interbank cash withdrawals at bank-owned automated teller machines (ATMs) are encouraged to file complaints with Bank Negara Malaysia (BNM), Communications Minister Datuk Fahmi Fadzil stated. He indicated that BNM is poised to take necessary actions against banks not adhering to the recently implemented waiver of the RM1 fee, which took effect yesterday.

According to BERNAMA News Agency, BNM has clarified that the fee waiver is applicable exclusively to ATMs owned and operated by banks that are part of the shared ATM network. This permits customers to withdraw cash from any of these machines without incurring the RM1 charge. The waiver presently encompasses approximately 84 percent, or nearly 16,000, of all bank-owned ATMs nationwide. Fahmi, who also serves as the MADANI Government spokesman, mentioned that the remaining 16 percent of ATMs, operated by non-bank private entities under distinct commercial agreements, will maintain the RM1 withdrawal fee.

Clarification from BNM was prompted by public inquiries on social media concerning the implementation of the fee waiver for ATM cash withdrawals. Fahmi advised customers to discern bank-owned ATMs by looking for the bank's logo on the machines to avoid confusion, as opposed to using ATMs operated by third parties. He also noted that the Association of Banks in Malaysia (ABM) and the Malaysian Islamic Banking and Financial Institutions Association (AIBIM) are anticipated to release a joint statement soon, offering additional details on the fee waiver implementation.

In a related development, Fahmi announced the establishment of a Global Development Centre by an international financial technology company at Tun Razak Exchange (TRX). This initiative is expected to bolster Malaysia's standing as a global innovation hub for digital talent and financial technology, especially in Agentic AI. He remarked that this venture marks the first investment of its kind in Malaysia, illustrating robust foreign investor confidence in the country's political stability and economic policies set forth under the MADANI Government. The political stability and policy consistency under the MADANI Government have evidently enhanced investor confidence, particularly among foreign investors, encouraging them to continue opting for Malaysia as a prime investment destination.