Bank Negara Malaysia, the Central Bank of Malaysia, has on 15 December 2021 issued an exposure draft of the Payment System Operator policy document. The PSO Exposure Draft is intended to apply to all approved operators of a payment system under the Malaysian Financial Services Act 2013 and Malaysian Islamic Financial Services Act 2013. The objectives of the PSO Exposure Draft are to: (i) ensure the safety, efficiency and reliability of payment systems; (ii) preserve public confidence in the payment systems and the use of payment instruments; and (iii) ensure payment systems are aligned with relevant international standards.
Yee Syuan ChamBrowsing
Yee Syuan Cham is an Associate in Baker McKenzie Kuala Lumpur office.