Kuala Lumpur: The application window for digital insurers and Takaful operators (DITOs) licences will remain open until December 31, 2026, as per Bank Negara Malaysia (BNM). Successful applicants may be announced during or after this period.

According to BERNAMA News Agency, the central bank has observed considerable interest from various parties in the application process for DITO licences, just three months into the two-year application period that commenced on January 2, 2025. This interest reflects a strong belief in the potential for innovation in the insurance and takaful sectors. Planned consultation sessions with interested applicants are currently in progress.

BNM stated that all prospective applicants are required to consult with the bank prior to submitting a formal application. This can be initiated by emailing [email protected]. Moreover, applicants must adhere to the criteria outlined in the Policy Document on Licensing and Regulatory Framework for DITOs.

BNM Governor Datuk Seri Abdul Rasheed Ghaffour expressed that through DITO, the central bank aims to strengthen the financial system by promoting more inclusive, competitive, and efficient offerings that align with the evolving needs of consumers.