Future Of Finance To Be Defined By Trust, Not Technology -- BNM Governor
KUALA LUMPUR, July 8 (Bernama) -- The future of finance will not be defined by the speed or sophistication of technology, but by whether it strengthens trust, broadens opportunity and serves society well.
Bank Negara Malaysia governor Datuk Seri Abdul Rasheed Ghaffour said the approach is clear: encourage innovation, uphold trust and ensure that progress benefits society.
"We neither constrain innovation prematurely nor leave it to unfold unchecked. Our stance is anchored in proportionality, parity and technology neutrality, ensuring innovation progresses responsibly and with confidence," he said.
He said this in his opening address at the Asian Institute of Chartered Bankers (AICB) Nexus 2026 Conference here today.
Abdul Rasheed said that in practice, this means engaging with the industry early, providing clearer regulatory expectations, supporting responsible experimentation and investing in shared infrastructure that enables innovation at scale.
"Alongside artificial intelligence (AI), other developments will shape the sector. Our Open Finance framework establishes a foundation for secure, consent-based data sharing, with supporting infrastructure being developed with PayNet and the industry, and a phased implementation beginning in 2027.
"At the same time, our asset tokenisation roadmap is progressing into pilots through the Digital Assets Innovation Hub," he said.
He said these are tools, not destinations, and their true value lies in whether they improve lives, strengthen resilience and deepen trust.
"Looking ahead, we are shaping the next chapter of financial sector development through the Financial Sector Blueprint 2027 to 2030, developed in close collaboration with the industry, the government and stakeholders to ensure it is grounded in real challenges and aligned with the evolving needs of the economy," he added.
-- BERNAMA