New Bank Negara Malaysia Policy Document updates e-money regulatory framework
27 April 2023
On 30 December 2022, Bank Negara Malaysia (“BNM”) issued a new Policy Document on Electronic Money (“Policy Document”). The new Policy Document supersedes the Guidelines on Electronic Money issued by BNM on 31 July 2008 and officially came into effect on 30 December 2022, except for certain paragraphs which will only come into effect on 30 December 2023.
This article by our associate firm in Malaysia, Rahmat Lim & Partners, sets out the key changes introduced by the new Policy Document. To read the full article on the Rahmat Lim & Partners’ website, please click here.