Bank Negara issues policy document on digital banks

During the foundational phase, Bank Negara said licensed digital banks will be subjected to a more simplified regulatory requirement relating to capital adequacy, liquidity, stress testing, Shariah governance and public disclosure requirements.

KUALA LUMPUR: Bank Negara Malaysia has issued a policy document on licensing framework for digital banks following a six-month public consultation.

In a statement issued on Thursday, Bank Negara said the licensing framework for digital banks aims to enable the innovative application of technology to uplift the financial well-being of individuals and businesses and foster sustainable growth.