Bank Negara Malaysia (BNM) has begun planning a gradual reduction of its shares in PayNet, the Ministry of Finance (MOF) said in a parliamentary response.
The central bank currently holds 35.5 percent of PayNet, making it the largest shareholder.
As part of its oversight responsibilities, BNM sets the company’s mandate to deliver accessible and efficient digital payment services while ensuring strong operational resilience across the industry.
According to a Bernama report, the intention behind the planned adjustment to BNM’s ownership is to open the door for broader industry participation in the national payments operator.
MOF said this approach supports efforts to build a more competitive and inclusive digital payments environment as the sector continues to expand.
The ministry noted that any changes to the central bank’s stake will be implemented gradually to preserve the reliability and security of Malaysia’s payment infrastructure.
It added that maintaining system strength and supporting ongoing innovation will remain priorities throughout the transition, given PayNet’s role at the core of the retail payments network.
The explanation was provided in response to a question from Sri Gading MP Aminolhuda Hassan, who asked whether the government planned to review BNM’s ownership level in PayNet.
Featured image: Edited by Fintech News Malaysia, based on image by Wee Hong via Wikipedia
