Kuala lumpur: Bank Negara Malaysia (BNM) will release an Exposure Draft on Open Finance soon and finalise the policy by next year, with the first phase to be rolled out in the interim, subject to industry and public readiness. BNM governor Datuk Seri Abdul Rasheed Ghaffour highlighted the central bank’s view of tokenisation as a promising innovation in the financial sector with potential implications beyond capital markets.
According to BERNAMA News Agency, Abdul Rasheed emphasized the bank’s focus on exploring the potential benefits and implications of tokenising real assets in financial services, particularly in use cases that bring tangible benefits to the economy. He shared these insights during a press conference following the announcement of the second quarter 2025 (2Q 2025) gross domestic product (GDP) performance.
Abdul Rasheed mentioned that the discussion paper on asset tokenisation will outline BNM’s proposed collaborative approach. It will provide guidance on developing tokenisation use cases and set out safeguards to support responsible exploration initiatives. The governor stressed the importance of ensuring that tokenisation delivers real value to the economy and that use cases meaningfully support economic activity with transparent and reliable information, along with adequate protections for users and customers.
He added that understanding end-user requirements is crucial as the bank explores tokenisation. Earlier this month, the governor announced plans to release an exposure draft and a discussion paper on asset tokenisation by year-end. This follows the release of a Discussion Paper on Artificial Intelligence (AI), which outlines the central bank’s regulatory and developmental approach, including priority areas for industry-led collaboration and the responsible adoption of AI in financial services.
Abdul Rasheed further stated that a future-ready system necessitates secure digital identity and data sharing frameworks, robust data governance, effective cybersecurity, and a regulatory foundation that enables inclusive, responsible, and trusted innovation.