Bank Negara backs innovation, fintech

Raja Teh Maimunah: ‘Islamic banks are small and relatively late to the game.’

KUALA LUMPUR: Bank Negara has reiterated its support for innovation, promising new regulatory changes following its trials with start-up companies.

The central bank’s regulatory sandbox, launched last October, is a test bed for selected fintech companies which will be issued licences to run their ventures within perimeters set by the regulator. It is understood that the central bank would soon be announcing the handful of companies selected to participate in the sandbox.