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BNM-OECD Conference on Financial Education and Financial Consumer Protection in Asia-Pacific

Ref No : 12/19/06 13 Dec 2019 Embargo : For immediate release    

‘Empowering Financial Consumers in the Digital Age’

Bank Negara Malaysia, in collaboration with the Organisation for Economic Co-operation and Development (OECD), hosted a Conference on Financial Education and Financial Consumer Protection in Asia-Pacific in Kuala Lumpur on 11 and 12 December 2019. The conference was attended by over 200 delegates comprising domestic and foreign representatives of central banks, regulatory and supervisory authorities, government officials, the academic community, the private sector and non-government organisations from 15 countries.

During the conference, high-level policy makers and experts from the region and the OECD shared experiences and challenges in promoting financial literacy, inclusion, ensuring consumer and data protection, as well as in regulating digital financial assets in the digital era. Policy and regulatory insights on various issues such as trade-offs between technology-driven innovation and consumers’ interests, factors supporting and hampering the adoption of digital financial services in Asia-Pacific, were also discussed. The OECD took the opportunity to launch a report entitled "Cryptoassets in Asia" which explores the attitudes, behaviour and experiences of financial consumers with regard to cryptoassets in Malaysia, the Philippines and Vietnam.

The conference was followed by a Roundtable meeting on Financial Education, Financial Consumer Protection and Financial Inclusion in Asia-Pacific. The closed-door meeting served as a strategic platform for public sector officials accountable for financial consumer protection, education and inclusion in the Asia-Pacific region and OECD representatives to exchange experiences and practices relating to the use of digital technology for financial applications, including approaches to better support financial education and inclusion. Participants also shared their views on emerging developments and challenges for policy makers seeking to empower and protect financial consumers in the digital age.

 

(The report entitled "Cryptoassets in Asia” by OECD is downloadable at www.oecd.org/finance/financial-education/2019-cryptoassets-in-asia.pdf)


ISSUED BY BANK NEGARA MALAYSIA AND THE ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

Bank Negara Malaysia
13 Dec 2019

© Bank Negara Malaysia, 2019. All rights reserved.