BNM Governor outlines fintech agenda at MyFintech Week 2025

Bank Negara Malaysia (BNM) announced a regulatory roadmap and a set of fintech and climate-finance initiatives at MyFintech Week 2025.

• Regulatory roadmap and fintech initiatives: BNM released a Discussion Paper on Artificial Intelligence (published the day of the speech), will issue an Exposure Draft on Open Finance by year-end, and will publish a Discussion Paper on Asset Tokenisation; BNM co-hosted MyFintech Week 2025 with SC, AICB, MDEC and FAOM; announced Project Mawar (wholesale CBDC pilot) and collaboration with the BIS Innovation Hub, and highlighted the Digital Asset Innovation Hub and upcoming licensing of digital banks, digital insurers and takaful operators. The MIFC Global Impact Challenge 2025 (launched by BNM with the MIFC Leadership Council and six strategic partners) is open for submissions until 18 August 2025.
• Context, metrics and supporting initiatives: BNM revised GDP growth forecast to 4%–4.8% for the year and expects headline inflation of 1.5%–2.3% in 2025; the ringgit has appreciated 5.55% vs the US dollar and 1.8% vs major trading partners (as of market close the day before the speech). Islamic banking accounts for over 47% of total financing and takaful for 26% of total net contributions. BNM referenced the Climate Finance Innovation Lab under the Joint Committee on Climate Change and the National Fraud Portal led by PayNet for rapid tracing of stolen funds.