Title
Discussion Paper on Regulatory Sandbox

Issuance Date
29 July 2016

Effective Date
The consultation period of this discussion paper ends on 30 August 2016

Applicability
FSA, IFSA, DFIA, MSBA and fintech companies looking to carry out businesses regulated by Bank Negara Malaysia (the Bank)

Summary
To further encourage innovation and improve the delivery of financial services, the Bank is enhancing its regulatory approach to facilitate the development and adoption of innovative financial technology (fintech) solutions in the financial sector. In this regard, the Bank plans to introduce a regulatory sandbox framework (the Sandbox), under which financial institutions regulated by the Bank and fintech companies looking to carry out businesses regulated by the Bank may be granted certain regulatory flexibilities to experiment with fintech solutions in a production or live environment. These flexibilities will be accompanied by appropriate safeguards to preserve financial stability and promote fair treatment to consumers. This discussion paper sets out the key principles and proposed approach in operationalising the Sandbox.

The Bank invites written comments on the specific questions set out in this discussion paper as well as any general comments on the proposals, including suggestions for particular issues/areas to be clarified or elaborated further and any alternative proposals that the Bank should consider. To facilitate the Bank’s assessment, please support each comment with a clear rationale, accompanying evidence or illustration, as appropriate.

Details can be found in the following document:

• Discussion Paper on Regulatory Sandbox

Responses must be submitted to the Bank by 30 August 2016:

Pengarah
Jabatan Pembangunan Sektor Kewangan
Bank Negara Malaysia
Jalan Dato' Onn
50480 Kuala Lumpur
Email: [email protected]

Issuing Department
Financial Sector Development Department

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