Johor State Government Eyeing to Launch its Own Digital Bank
by Fintech News Malaysia April 16, 2020In a media statement issued on Wednesday, Johor’s Chief Minister Datuk Haji Hasni Mohamad announced the state government’s intention to launch its own digital bank.
This announcement is made against the backdrop of Bank Negara’s upcoming digital banking framework which has been delayed due to disruptions brought on by COVID-19.
The Chief Minister further stated that the establishment of a digital bank will create a more inclusive financial ecosystem for its citizens. He further noted the growth potential of digital banks and the fintech sector and added that the state government should seize the opportunity.
Similarly, the Sarawak state government has also previously announced its intention to bid for a digital banking license, they hoped that Bank Negara would grant them a license since the Sarawak Government is already operating its own e-wallet.
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