Malaysia best suited for testing, launching fintech solutions in Asean, Malaysia Digital Economy Corp CEO says
‘Building on its backbone as one of the global key players in Islamic Finance, Malaysia’s unique proposition is that fintech players will be able to launch and serve a different market,’ says CEO of Malaysia Digital Economy Corp (MDEC)
By Farah Adilla
Malaysia is a suitable test-bed and platform to launch fintech (financial technology) solutions and products in Southeast Asia, Malaysia Digital Economy Corp (MDEC) chief executive officer Datuk Yasmin Mahmood said today.
Yasmin said the country has a good population mix in the urban, suburban and rural areas, who make up different target markets for fintech players and innovators.
“Building on its backbone as one of the global key players in Islamic Finance, Malaysia’s unique proposition is that fintech players will be able to launch and serve a different market.
“This includes fintech startups and companies which have yet to enter the fintech (sector) for Islamic finance. They can test and launch Shariah-compliant products in Malaysia for the region, as well as the global market,” she said in her keynote address at the Finnovasia 2017 Conference here today.
Yasmin said while fintech is still a new sector, it will not stop MDEC from creating an organised fintech ecosystem which understands how engagement with start-ups, investors, and other innovators from around the world build value.