by Vincent Fong
July 15, 2020
MDEC is a reputation that’s acquainted to most in Malaysia because the company that acts as an enabler for Malaysia’s digital economic system. The company has additionally been lively on the fintech entrance — from launching a congregational level that additionally act as a co-working house known as The ORBIT, to co-organising Malaysia’s first Fintech Week with Bank Negara Malaysia.
As Malaysia’s fintech scene shifts from its infancy stage to the following part of progress, we have to consider our technique on how we needs to be positioning ourselves inside the international enviornment — particularly in face of well-established fintech hubs like Singapore and Hong Kong.
We’re not with out our benefits, the Malaysian inhabitants is digitally savvy and has developed an affinity in direction of adopting digital monetary merchandise. That is proven in Bank Negara Malaysia’s statistics which signifies that we’re seeing greater than 7 instances progress in e-money transactions on this decade and our excessive cell banking penetration of over 50%.
Equally, a current examine by PwC additionally helps this narrative as properly, their survey exhibits that 74% of Malaysians responded that they’re eager to develop into digital banking clients.
If you mix that propensity for adoption with Malaysia’s management place in Islamic Finance, there are clear alternatives that aren’t totally tapped inside the Islamic fintech house. There aren’t any apparent leaders globally for Islamic fintech but and Malaysia may but properly be a possible entrance runner for that title.
Within the midst of all these, MDEC sits within the centre of the ecosystem facilitating interactions, insurance policies and techniques between trade, regulator, and end-users. MDEC’s imaginative and prescient and path on this will play a significant position in shaping Malaysia’s fintech future.
To deep dive into this, we will probably be sitting down with MDEC’s new Chairman, Datuk Wira Dr Hj.Rais Hussin Mohamed to get a way what’s imaginative and prescient is for MDEC and Malaysia’s fintech scene as an entire.
Be a part of our livestream interview on the 23rd July 2020 at 11:00 am to study extra, members are additionally welcome to submit their questions, the occasion will probably be streamed stay on Fb and you will get the hyperlink to tune in right here
Share This Article
Do the sharing thingy
Extra information about writer