Malaysia’s Reserve Bank Issues New Policy Document for Virtual Banks
Malaysia’s reserve bank, Bank Negara, has released its policy document on digital banks.
The Malaysian central bank’s new document on the licensing framework for all-digital banks has been published after completing a 6-month public consultation.
Bank Negara officials stated on December 31, 2020, that the licensing framework for digital-only banks will support the application of the latest technologies to enhance the financial well-being of individuals and companies while also promoting sustainable growth.
