The central bank said in a statement that the FTEG was part of the bank’s commitment to support innovations that would improve the quality, efficiency and accessibility of financial services in Malaysia.
In addition, BNM said the FTEG would serve as the bank’s dedicated contact point for financial technology (fintech) related queries, including on regulatory matters related to the adoption of fintech in the financial services industry.
More than that, the bank would roll out the fintech framework by July. This would allow banking institutions to have time to give BNM comments to ensure that it would be implemented effectively.
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