Central Banking

Malaysia’s Ibrahim warns of costs of not turning digital

BNM governor Muhammad Ibrahim (right) shares a joke with Central Banking’s editor-in-chief, Christopher Jeffery
Muhammad bin Ibrahim
CIMB Group Holdings

The governor of Malaysia’s central bank has said the rise of e-payments will mean Malaysians will “have no choice” but to improve the way they conduct their financial affairs moving forward.  

Speaking earlier this month, Muhammad bin Ibrahim took note of the key trends shaping the payments landscape with a specific focus on how Malaysia’s economy will be adapting to digitalisation in the coming years.

“From 2009 to 2017, the industry has invested 893 million ringgit ($219 million) to enhance

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