Kuala Lumpur: Bank Negara Malaysia (BNM) is exploring the potential of introducing underlying blockchain technology to enhance various national financial systems such as the Central Bank Digital Currency, said its governor Datuk Seri Abdul Rasheed Ghaffour today. However, the central bank is not rushing to implement this, as its main focus is on creating the right platform to enable its deployment.

According to BERNAMA News Agency, Abdul Rasheed Ghaffour emphasized the importance of having appropriate guidelines and safeguards to ensure the successful development and evolution of blockchain technology within the national financial systems. He addressed reporters after the release of BNM’s flagship publications in Kuala Lumpur.

Abdul Rasheed made these remarks when questioned about the tokenisation of bonds and sukuk, a collaborative initiative by the Securities Commission Malaysia (SC) and Khazanah Nasional Bhd. The central bank governor highlighted that exploring asset tokenisation is part of BNM’s strategy to futureproof Malaysia’s key financial infrastructures, aiming for greater efficiency and resilience.

He further noted that BNM is collaborating with global regulators on this initiative. The SC and Khazanah Nasional plan to introduce the tokenisation of bonds and sukuk this year, with the goal of broadening retail participation in Malaysia’s capital market. Abdul Rasheed assured that BNM’s role is to ensure accessibility while safeguarding retail participants in the market.

In a different context, Abdul Rasheed mentioned a 1.61 per cent drop in total assets of BNM to RM621.54 billion as of December 31, 2024, attributing this partly to the strengthening of the ringgit.