The winners of digital bank licenses will be announced by Bank Negara Malaysia (BNM) next month, according to governor Tan Sri Nor Shamsiah Mohd Yunus.
She stated that the central bank was in the process of evaluating the submissions and that the winners will be announced when the bank’s annual reports were released.
“We received 29 applications, and because we only plan to license a maximum of five, we must properly assess each and every one of them.
“”We want digital banks to deliver relevant products and services to underserved and unserved groups so that more people and entrepreneurs may better own assets and save for the future or build their enterprises,” she told reporters after reporting Malaysia’s fourth-quarter economic growth here today.
She said the central banks expected the entry of the digital banks to accelerate the digitalisation of incumbent banks.
