Fintech Regulatory Sandbox Framework

Bank Negara, Malaysia’s central bank and banking/insurance regulator issued the finalized FinTech Regulatory Sandbox Framework [FRSF] following its earlier Discussion Paper.  It comes into effect on 18th October 2016 as announced by BNM Governor Datuk Muhammad Ibrahim in his keynote address at the Sixth Malaysian Insurance Summit. To recap, the FRSF is meant for BNM to …

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Bank Negara Malaysia Sandbox: Is it for you?

Bank Negara Malaysia (“BNM”) in October 2016 issued the FinTech Regulatory Sandbox Framework (“FRSF”) in response to the rapid development in financial technology innovations. This has sparked interest among stakeholders, particularly standalone Fintech companies, existing licensed financial institutions, consumers as well as technology providers to be involved in this key and exciting development. As a …

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