Issuance Date
3 February 2023

Summary
The discussion paper explores Bank Negara Malaysia’s (the Bank) proposed features of the Financial Inclusion Framework 2023-2026 (Framework).

The implementation of the Financial Inclusion Framework 2011-2020 has led to significant improvements in the accessibility and take-up of basic financial services in Malaysia. Despite the progress made, several barriers and challenges need to be addressed to run the last mile in progressing financial inclusion. The Framework will also take into consideration alignment of strategies towards new emerging growth angles in financial services, and achievement of the United Nation’s Sustainable Development Goals (SDGs) and Environmental, Sustainability and Governance (ESG) propositions for higher value creation.

Developed to align with the Financial Sector Blueprint 2022-2026, the Framework serves as a four-year strategic roadmap and principle-based guidance to advance financial inclusion. The vision of the Framework is to provide a more expansive and holistic approach to achieve broader development outcomes and elevating the financial well-being and standard of living of all residents in Malaysia.

The Bank invites written feedback on this discussion paper, including suggestions on areas to be clarified and alternative proposals that the Bank should consider. The written feedback should be supported by a clear rationale, accompanying evidence or practical examples, where appropriate, to facilitate greater understanding of its context.

Issuing Department
Financial Inclusion Department

Section in Charge
Financial Capability and Inclusion

Relevant Act
FSA
IFSA
DFIA
MSBA

Document
Discussion Paper on Financial Inclusion Framework 2023-2026