Bank Negara Malaysia issues exposure draft on Interoperable Credit Transfer Framework
31 January 2018
On 7 December 2017, Bank Negara Malaysia issued an exposure draft on the Interoperable Credit Transfer Framework, inviting feedback on the proposed introduction of interoperable credit transfer services (particularly for banks and issuers of electronic money) that leverage on a shared payment infrastructure in Malaysia. Among other changes, the Interoperable Credit Transfer Framework seeks to expand network reach and avoid market fragmentation by enabling interoperability of credit transfer services.