Bank Negara Malaysia issues revised Policy Document on Electronic Money

28 April 2025

On 31 January 2025, Bank Negara Malaysia issued a revised policy document on Electronic Money (“Revised Policy Document”) and a revised set of Frequently Asked Questions. The Revised Policy Document took effect upon issuance and supersedes the Guidelines Policy Document on Electronic Money issued on 22 December 2022. The key change in the Revised Policy Document is the removal of provisions related to “limited purpose e-money issuers”, which are now subject to the Financial Services (Limited Purpose Electronic Money) Order 2024 or the Islamic Financial Services (Limited Purpose Electronic Money) Order 2024.