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Malaysia's Central Bank Locks March 2022 for Digital Bank Appointments

Less than a month from now, Malaysia will finally have its own digital banks.

This will take place once Bank Negara – Malaysia’s Central Bank – awards the necessary licenses to the five shortlisted service providers. This comes after the provisions and regulations that enforce proper governance and compliances have been approved at the end of last year.

Credit: Bank Negara Malaysia

Malaysia, while not the first to roll out digital banks as the credit goes to Singapore, Indonesia and the Philippines, has already received 29 applications for the digital bank license. Clearly, this is important for some as so ma