adnan zaylani mohamad zahid : re - inventing payments - the future of financial services keynote address by mr adnan zaylani mohamad zahid, assistant governor of the central bank of malaysia ( bank negara malaysia ), at the malaysian e - payments excellence awards ( meea ) 2019, kuala lumpur, 31 july 2019. * * * it is my pleasure to be speaking here today, at such an exciting time for our payments landscape. malaysia ’ s progress in migrating to e - payments has been promising. in less than a decade since 2011, we have reduced cheque usage by half to 101 million in 2018. e - payment acceptance points such as point - of - sale ( pos ) terminals have more than doubled to 16 terminals per thousand inhabitants in 2018. more merchants are also accepting qr payments with over 400, 000 registrations recorded to - date. meanwhile, e - payment transactions have almost tripled to 125 transactions per capita in 2018. at the same time, new business models are emerging. we estimate that 40 % of fintechs in malaysia are in payments or payment - related services – making it the largest segment. the ewallet space has been particularly vibrant, contributing to rapid growth in mobile payments. from 2017 to 2018, mobile payment transaction volume had increased twenty - fold from just below two million transactions to over 34 million transactions within a year. keeping these developments in mind, allow me to share three broad priorities in taking malaysia ’ s payments journey to greater heights. greater scope to enhance inclusivity and quality of e - payment adoption the first priority is to improve the quality of our e - payment migration to be more inclusive, broadbased and sustainable. the good progress so far means that malaysia has a solid foundation for more widespread adoption of e - payments. e - payments are increasingly prevalent, with adoption picking up across a wide range of use cases. a wider network of merchants is also increasingly open to accepting e - payments as a possible driver of efficiency gains and revenue growth. importantly, these encouraging developments have been contributed, in part, by the market reforms and incentive structures implemented since 2013. these measures have corrected market distortions and facilitated the pooling of industry resources to continuously enhance the payment infrastructure and services. nonetheless, there are opportunities for more inclusive and broad - based adoption. studies have shown that cash usage is still prevalent with more than 80 % of malaysians reportedly using cash in a majority of their everyday spend

muhammad bin ibrahim : the “ islamic finance country report for malaysia 2015 ” keynote address by mr muhammad bin ibrahim, deputy governor of the central bank of malaysia ( bank negara malaysia ), at the launch of the “ islamic finance country report for malaysia 2015 ”, kuala lumpur, 30 june 2015. * * * thank you for the invitation today to officiate the launch of the “ islamic finance country report for malaysia 2015 ” published by irti, the research and training arm of the islamic development bank. this country report is the fifth in its series and features malaysia ’ s ongoing initiatives and prospects in transforming into a high income economy and the contribution of islamic finance in this endeavour. islamic finance in malaysia has undergone three decades of progress and its current state of development is the reflection of the collaborative effort between the industry and the government. while malaysia has achieved a number of successes, a lot needs to be done still. islamic finance needs to advance from domestic - centric growth and expand beyond our borders. the next phase of achievement would very likely hinges on our ability to collaborate successfully with others and harness our capabilities to ensure that islamic finance will progress and expand transactional activities across borders to remain competitive and dynamic. progressive development of islamic finance in malaysia as part of the strategy to sustain balanced economic growth, malaysia has developed islamic finance as one of the sectors that not only adds value to the economy but offers an alternative to businesses and the public. our approach has been holistic, yet focused on specific outcomes. the focused approach has led to the exponential growth of the industry and contributed towards the diversification of the malaysian economy. the future and continued progress of islamic finance in malaysia would very much depend on the industry resourcefulness to build and maintain an innovative, competitive and inclusive islamic financial industry. empirical evidence shows the importance of an enabling environment for islamic finance to fluorish, with tax incentives, business - friendly policies and initiatives, as well as an appropriate and robust regulatory and supervisory framework. it is these ingredients that enable islamic banking assets to consistently record double - digit annual growth rate since year 2000 and now representing 25 % of domestic banking assets. in terms of customer base, it is estimated that non - muslims make up over 50 percent of the customer base of islamic banks in malaysia. growth numbers are also most evident for the islamic capital market, with the sukuk market commanding a 57 percent market share and attracting global issuers and investors. from 2006 to end - 2014, foreign issuers have issued su