News & Reviews:   Bank Negara

As the Malaysian government targets 15 million new MyDigital ID registrations during 2026, it seems that bank users will be part of it. According to this news source, 18 banking institutions in Malaysia have confirmed their participation in Phase 2 of the MyDigital ID sandbox. This phase focuses on testing e-verification technology designed to securely confirm a user’s identity when opening new accounts or conducting real-time banking operations.

Bank Negara Malaysia (BNM) has introduced a new rule for money service businesses (MSBs) such as money changers to jot down the details of their Malaysian customers, regardless of the amount being changed. Enforced since 6 February, read on to find out more about this change.