Digital Banks – A New Source of Financing for Micro, Small, and Medium Enterprises
Digital Banks could serve as a new source of financing for Micro, Small, and Medium Enterprises (MSMEs). The Bank Negara Malaysia’s issuance of digital banking licenses to five reputable institutions is expected to ease the financing constraints of MSMEs in Malaysia by allowing them to have easier terms of financing, a lower interest rate, and a quicker application procedure.