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KUALA LUMPUR: Bank Negara Malaysia will issue an exposure draft on a consultative paper that seeks feedback on the digital bank framework by year-end, said Governor Nor Shamsiah Mohd Yunus (pix).

The consultative paper will enable the central bank to review and tighten the framework before it comes into force next year.

“It will be ready by year-end,“ she told reporters after the launch of Bank Negara Malaysia Museum and Art Gallery’s new exhibition here today.

Titled “For the Nation: 60 Years of Central Banking”, the gallery was launched by the Yang Dipertuan Besar of Negeri Sembilan Tuanku Muhriz ibni Almarhun Tuanku Munawir.

BNM’s financial development and innovation department director Suhaimi Ali had said that more than 10 parties had expressed interest to set up digital banks in the country.

They comprised a mix of newcomers and financial players, he said.

The purpose of the framework is to protect the system and serve the underserved segments such as start-ups and micro-enterprises. -Bernama