Digital ringgit? Not so fast

Rakuten's Lau said it might be too soon for many countries to implement CBDCs as they are adopting a wait-and-see attitude. — Bloomberg

PETALING JAYA: Despite Bank Negara having reiterated, in its Financial Sector Blueprint 2022 to 2026, that it has no immediate plans to launch a central bank digital currency (CBDC) last year, a discussion about it has regained momentum this week.

This is primarily in conjunction with Putrajaya’s launch of the National Digital Identity or Digital ID for Malaysians which saw Prime Minister Datuk Seri Anwar Ibrahim becoming the first person to obtain a Malaysian digital identification last Friday.