Bank Negara adopts balanced approach for digital banks

Bank Negara has adopted a balanced approach to enable the admission of digital banks with strong value propositions and the ability to preserve the integrity and stability of the financial system.

KUALA LUMPUR: Bank Negara Malaysia (BNM) has adopted a balanced approach to enable the admission of digital banks with strong value propositions and the ability to preserve the integrity and stability of the financial system, said Deputy Finance Minister II Mohd Shahar Abdullah.

"Through this approach, BNM sets the cumulative asset threshold that can be generated by digital banks of not more than RM2 billion in the initial three to five years of operations.