Bank Negara Malaysia

Malaysia central bank, ASEAN 5 to set up multilateral platform for cross-border payment connectivity

A key highlight at the symposium is the showcasing of Malaysia’s cross-border QR payment linkages with Indonesia, Singapore, and Thailand. It features an exhibition with food vendors from Malaysia, Indonesia, Singapore, and Thailand.

Indonesia and Malaysia announce commercial launch of cross-border QR payment linkage

Bank Indonesia (BI) and Bank Negara Malaysia (BNM) have on Monday announced the commercial launch of the Indonesia-Malaysia cross-border QR payment linkage. The commercial launch of this linkage follows from the successful completion of the pilot phase of the linkage announced on January 27, 2022.

Malaysia Central Bank to co-host virtual AML/CFT Hackathon 2023 to help crack down on financial crime

Malaysian Central Bank, in partnership with the Financial Intelligence Consultative Group (FICG), will be co-hosting the AML/CFT Hackathon 2023 from June 1 to 28, 2023 to develop digital solutions to help combat financial crime.

Malaysia has no plans for more digital banking licenses – report

In deciding to award five licenses, Nor Shamsiah said the central bank considered many factors, such as the size of the country’s banking system relative to the economy. “This isn't a case of ‘the more the merrier!’” she added.

Malaysia to announce digital bank license winners next month – report

Malaysia’s move to issue digital banking licenses comes at a time when regulators across Asia including Singapore, Hong Kong, and the Philippines are opening up the banking industry to digital players, encouraged by higher smartphone penetration and better internet connections.

Malaysia, Indonesia central banks launch cross border QR payment linkage

The central bank of Malaysia and Indonesia on Thursday launched a cross-border QR payment linkage, to enable instant, secure, and efficient cross-border payments between Malaysia and Indonesia. Through this linkage, consumers in both countries will be able to make retail payments by scanning the DuitNow or Quick Response Code Indonesian Standard (QRIS) QR…

Malaysia launches Financial Sector Blueprint 2022-2026, advancing digitalization of the financial sector’s among the strategic thrusts

Advancing digitalization of the financial sector is among the five strategic thrusts stated in the Blueprint. Among the initiatives include future-proofing key digital infrastructures, supporting a vibrant digital financial services landscape, strengthening cyber security readiness and responsiveness, and supporting greater use of technology for regulation…

Bank Negara Malaysia working with ‘relevant authorities’ to address concerns over BNPL

It is important for individuals to understand the terms and conditions of the BNPL schemes, and to not take debt that they cannot afford, the regulator warned.

Malaysia & Singapore to link real-time payment systems in Q4 2022

The first phase of the DuitNow-PayNow linkage will be launched in the fourth quarter of 2022 and will allow customers of participating financial institutions to make real-time fund transfers between Malaysia and Singapore using just a mobile number.

Central banks of Australia, Malaysia, Singapore, South Africa to test central bank digital currencies for international settlements

Led by BIS Innovation Hub’s Singapore Centre, the project, dubbed Project Dunbar, aims to develop prototype shared platforms for cross-border transactions using multiple CBDCs.