Bank Negara Malaysia (BNM) has developed a long-term strategy to gradually reduce its ownership stake in Payments Network Malaysia Sdn Bhd (PayNet), the country’s primary payment infrastructure provider. The plan, confirmed by the Ministry of Finance (MOF), is aimed at fostering greater market competitiveness while ensuring that PayNet continues to play a central role in strengthening Malaysia’s digital payment ecosystem.
According to the MOF, BNM’s move to pare down its shareholding aligns with the central bank’s broader objective of promoting a more dynamic, inclusive, and innovation-driven payments landscape. While the shareholding reduction will be phased over time, the ministry emphasised that it will not compromise the stability, security, or efficiency of the national payment system. The plan is structured to maintain a balance between encouraging private-sector participation and safeguarding public trust in the country’s financial infrastructure.
In a written reply to the Dewan Rakyat on Wednesday, responding to a question by Aminolhuda Hassan (PH–Sri Gading) regarding the government’s review of BNM’s ownership in PayNet, the MOF highlighted that BNM currently holds a 35.5% stake in the company. As the largest shareholder, BNM continues to provide strategic direction and oversight, ensuring that PayNet delivers reliable, secure, and competitive digital payment services for both individuals and businesses.
The ministry also noted that BNM’s phased reduction plan will be implemented with careful monitoring and governance, maintaining the resilience of the payment system while enabling greater private-sector participation and competition. This approach is expected to enhance the efficiency and inclusivity of digital payments in Malaysia, supporting the country’s broader economic and financial digitalisation goals.
In summary, BNM’s measured plan to gradually reduce its stake in PayNet reflects a strategic effort to foster competition, innovation, and sustainability within Malaysia’s payment ecosystem, while ensuring that national payment infrastructure remains robust, secure, and accessible for all users.
