Race for digital banking licences in Malaysia likely to heat up

Visual from Bank Negara website

Several players are vying for digital banking licences in Malaysia and firming up their entry strategies even before the central bank has finalised its policy for the sector in the country.

Due to the disruptions caused by COVID-19 outbreak, Bank Negara Malaysia has extended the consultation period for the Exposure Draft on Licensing Framework for Digital Banks until June 30, 2020.

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