BFM 89.9
The Business Station
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42 mins
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On Tuesday, Thai authorities discovered five graves in a remote southern jungle not far from the border of our two countries. The graves were believed to contain corpses of ethnic Rohingyas from Myanmar, who were victims of human trafficking. The suspected ringleader of the labour smuggling network, a Myanmar national, as well as Thai officials have been arrested while over 50 policemen reprimanded over suspected links to the illegal trade. But what has happened on our side of the border especially since allegations surfaced that trafficking victims were being sold to Malaysian farmers? We explore.
This is a report by Wong Yu Han.
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ASEAN’s digital payments sector is experiencing rapid growth, fueled by increasing smartphone use, fintech innovation, and a booming e-commerce landscape. Key markets like Indonesia, Vietnam, and the Philippines are leading the way, with major opportunities in digitizing MSMEs and expanding rural financial access. Consumers are shifting toward mobile-first behavior, embracing e-wallets, mobile banking, and digital banks that offer greater convenience and accessibility. ASEAN central banks are strengthening cooperation to enhance payment linkages through QR code integration and shared standards. A major initiative, Project Nexus, aims to make cross-border payments faster, cheaper, and more seamless, though challenges remain in aligning regulations and infrastructure. As digital transactions surge, cybersecurity becomes critical, with the need to protect users without disrupting the payment experience. Importantly, digital finance is helping bank the unbanked, especially in rural areas, where mobile money and fintech tools are providing people with their first access to formal financial services.How can ASEAN ensure inclusive growth as digital payments continue to expand?
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