Sarawak sees digital financial institution as boon for rural inhabitants, awaits Financial institution Negara nod for licence


KUCHING: Sarawak plans to arrange a digital financial institution as a part of its effort to develop a digital economic system.

Chief Minister Datuk Patinggi Abang Johari Tun Openg stated the state was at present ready for a call from Financial institution Negara on its utility for a digital banking licence.

He stated a digital financial institution would profit the individuals, significantly the agricultural inhabitants, by enabling transactions to be executed digitally moderately than bodily.

“It is going to be like another financial institution besides that the transactions are digital, so that you need not go to an ATM, for example.

“This shall be good for the agricultural economic system,” he advised reporters after launching the Tegas Digital Village right here on Monday (Nov 22).

Abang Johari stated the state was making use of for the digital banking licence because it already had its personal S Pay International e-wallet utility.

“I really feel we now have the means (for it) and we now have to vary our financial system,” he stated.

It was reported earlier {that a} consortium comprising the Sarawak authorities, Income Group Bhd and Kenanga Funding Financial institution Bhd had submitted an utility for a digital banking licence to Financial institution Negara.

In a submitting with Bursa Malaysia on Aug 2, the funding financial institution stated a particular objective automobile for the consortium known as SSG Digital Sources Bhd had been arrange for the applying.

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