20201127 A friend asks…..

Q, Bank Negara Malaysia says it is finalising the updated Exposure Draft on a Licensing Framework for Digital Banks issued on 3 March, 2020. Does that indicate that the framework was issued in March 2020 but not the actual licence?

A. It means that they are doing the sensible thing and waiting until the dust dies down which contrasts with Singapore which has rushed in.

Does it mean that Malaysia will be behind? Yes, but in a good way: it will be able to learn from others’ mistakes and protect consumers against failures. For much more useful information look at the Hong Kong Monetary Authority. They are the real leaders in this area, having regarded quality as the prime criterion.

The framework says how it will happen. It doesn’t mean it has happened.


© 2016 Nigel Morris-Cotterill
All rights reserved.

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