KUALA LUMPUR: Bank Negara Malaysia (BNM) has drawn up a long-term plan to gradually reduce its shareholding in Payments Network Malaysia Sdn Bhd (PayNet).
The Ministry of Finance (MoF) said this is in line with BNM’s aspiration to enhance market competitiveness and strengthen industry leadership within the country’s digital payment ecosystem.
"In implementing this plan, BNM will continue to ensure that the national payment system remains stable, resilient, and supportive of innovation, without compromising the safety, reliability, and effectiveness of the existing system,” it said.
The ministry said this in a written reply to the Dewan Rakyat today in response to a question from Aminolhuda Hassan (PH-Sri Gading), who asked about the government’s plans to review or reduce BNM’s ownership in PayNet.
The MoF also noted that BNM is the major shareholder of PayNet with a 35.5 per cent stake, and that the central bank sets a clear mandate for PayNet to provide inclusive and competitive digital payment facilities for the public and businesses, while ensuring high resilience and security of the payment system. - Bernama
