TLDR: Bank Negara Malaysia (BNM) Governor Dato’ Sri Abdul Rasheed Ghaffour inaugurated MyFintech Week 2025, outlining a bold vision for the future of finance. His address highlighted key regulatory advancements in artificial intelligence, open finance, and asset tokenization, alongside a focus on digitalization, sustainability, and fostering a resilient financial ecosystem amidst global shifts.
Kuala Lumpur, Malaysia – Bank Negara Malaysia (BNM) Governor Dato’ Sri Abdul Rasheed Ghaffour delivered a pivotal opening address at MyFintech Week 2025 (MyFW 2025) in Kuala Lumpur, setting a collaborative and forward-looking tone for the future of the nation’s financial landscape. The event, themed “Ideate, Innovate, Co-create: Shaping the Future of Finance,” underscored the necessity for collective action among policymakers, regulators, technologists, investors, and innovators to navigate evolving challenges and opportunities.
Governor Abdul Rasheed emphasized that the financial sector is currently being reshaped by three powerful forces: digitalization, sustainability, and demographic shifts. He specifically highlighted the transformative impact of emerging technologies such as generative Artificial Intelligence (AI) and blockchain, which are redefining business models and consumer expectations.
In a significant announcement, the Governor unveiled forthcoming regulatory developments aimed at fostering responsible innovation. These include the release of an AI Discussion Paper, which outlines guidelines for the responsible use of AI in financial services. An Open Finance Exposure Draft is anticipated by year-end to support data-driven innovation, while a paper on Asset Tokenisation is also in the pipeline, focusing on its safe adoption within the financial system.
The Governor also provided an optimistic economic outlook for Malaysia, projecting a GDP growth of 4%–4.8% for 2025, despite prevailing global uncertainties. Inflation is expected to remain moderate at 1.5%–2.3%, and the Malaysian Ringgit has shown strengthening, reflecting investor confidence and ongoing structural reforms.
Malaysia’s progress in modernizing its payment infrastructure was also a key point of discussion. The nation now ranks second globally in QR payment adoption, with platforms like DuitNow becoming a common feature of daily life and expanding regional linkages for real-time, low-cost cross-border transactions. BNM is also advancing wholesale payment systems, including explorations into the future of money through Project Mawar, a wholesale central bank digital currency (CBDC) pilot, and collaborations with the BIS Innovation Hub.
Beyond technological advancements, the Governor stressed the importance of “Finance for Good,” advocating for Value-Based Intermediation (VBI) and ethical Islamic finance. VBI currently accounts for 47% of Islamic banking and 26% of takaful contributions. The MIFC Global Impact Challenge 2025 was also launched to drive climate and social innovation.
Building a resilient financial ecosystem remains a core priority. The Governor highlighted the focus on anti-scam strategies, robust cybersecurity measures, and the development of future-ready talent equipped with essential skills and adaptability. He cited the National Fraud Portal as a crucial step in fund recovery and consumer protection.
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MyFintech Week 2025 marks the first co-hosted edition with key ecosystem partners, including the Securities Commission, MDEC, AICB, and the Fintech Association of Malaysia, underscoring the collaborative spirit needed to shape the future of finance. The event’s program is structured around three tracks: Finance for the Future, Finance for Change, and Finance for a Resilient Ecosystem, reflecting the comprehensive approach to addressing the sector’s evolution.
