Bank Negara has no immediate plan to issue wholesale or retail CBDC, says governor

Published on 30 Mar 2022 5:30:42 PM

Bank Negara Malaysia (BNM) has no immediate plan to issue a central bank digital currency (CBDC) either in the form of wholesale or retail.

Governor Tan Sri Nor Shamsiah Mohd Yunus on Wednesday (March 30) said currently, Malaysia’s domestic payment system has remained efficient to support the needs of the economy and allow real-time digital payments.

Nor Shamsiah said the central bank is currently actively scaling up its internal capacity to support informed decision on CBDC, those policy decisions on CBDC will be guided by clear benefits to Malaysia as a whole, while ensuring that the associated risks arising from CBDC issuance are managed effectively.