PETALING JAYA: The transformation of digital banks in Malaysia needs to be expedited and facilitated to avoid being left behind compared to its regional peers.
Prime Minister Datuk Seri Anwar Ibrahim noted that regionally, Malaysia is not among the earliest to launch digital banks and has been lagging in several aspects.
He also emphasised that the government, through the Ministry of Investment, Trade, and Industry and the Ministry of Digital Communications, has taken steps to ensure that digital banks are no longer hampered by lengthy regulations and processes.
"The challenge for GXBank and other digital banks is in implementing changes swiftly and efficiently.
"Nonetheless, I am confident that the entire GXBank family will rise to this challenge," he said during the launch of the GXBank headquarters and the GXBank Centre of Excellence today.
The Prime Minister emphasised that digital banks must prioritise the people’s interests to remain sustainable, in addition to raising the people’s awareness and understanding of digital banks.
"In my opinion, if the economy does not serve the people, it is not sustainable,” he said.
Anwar added that the country's growth figures, investment levels, and control of inflation and unemployment have been impressive, positioning Malaysia as a highly competitive nation. - Bernama
