The Central Bank Digital Currency in Malaysia: a literature review
Central Bank Digital Currency (CBDC) is a digital form of central bank money and is different from traditional reserves or settlement accounts balances. In line with the digital technology era, CBDC has gained interest among the majority of the countries. Central banks in a number of countries have...
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| Main Authors: | , , , , , , |
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| Format: | Proceeding Paper |
| Language: | en |
| Published: |
2021
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| Online Access: | http://irep.iium.edu.my/97921/1/THE%20CENTRAL%20BANK%20DIGITAL%20CURRENCY%20IN%20MALAYSIA%20A%20LITERATURE%20REVIEW.pdf http://irep.iium.edu.my/97921/ https://conferencealerts.com/show-event?id=236334 |
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| author | Awang Abu Bakar, Normi Sham Yahya, Norzariyah Khairuddin, Irni Eliana Ahmad Firdaus, Zainal Abidin Jasni, Mohamad Zain Idris, Norbik Bashah Engku Ali, Engku Rabiah Adawiah |
| author_facet | Awang Abu Bakar, Normi Sham Yahya, Norzariyah Khairuddin, Irni Eliana Ahmad Firdaus, Zainal Abidin Jasni, Mohamad Zain Idris, Norbik Bashah Engku Ali, Engku Rabiah Adawiah |
| author_sort | Awang Abu Bakar, Normi Sham |
| building | IIUM Library |
| collection | Institutional Repository |
| content_provider | International Islamic University Malaysia |
| content_source | IIUM Repository (IREP) |
| continent | Asia |
| country | Malaysia |
| description | Central Bank Digital Currency (CBDC) is a digital form of central bank money and is different from traditional reserves or settlement accounts balances. In line with the digital technology era, CBDC has gained interest among the majority of the countries. Central banks in a number of countries have started experimenting, piloting, launching, and have laid their direction on CBDC. However, the development of CBDC in Malaysia is still behind compared to many other countries in the world. This paper aims to present the current status of CBDC in Malaysia. To achieve the goal, this paper explores literature reviews on CBDC, countries’ milestones on CBDC and Malaysia’s Central Bank's stand on CBDC. This review found that Malaysia’s Central Bank has no intention for the immediate plan for CBDC in Malaysia. However, Malaysia’s Central Bank continues to assess the CBDC potential, especially in the digital assets and payments space. This study also found that Malaysia’s Central Bank participated in a cross-border payments trial under Project Dunbar.
Jasni Mohamad Zain2, Norbik Bashah Idris1 and Engku Rabiah Adawiah Engku Ali1 |
| format | Proceeding Paper |
| id | my.iium.irep-97921 |
| institution | Universiti Islam Antarabangsa Malaysia |
| language | en |
| publishDate | 2021 |
| record_format | dspace |
| spelling | my.iium.irep-979212022-05-19T06:40:39Z http://irep.iium.edu.my/97921/ The Central Bank Digital Currency in Malaysia: a literature review Awang Abu Bakar, Normi Sham Yahya, Norzariyah Khairuddin, Irni Eliana Ahmad Firdaus, Zainal Abidin Jasni, Mohamad Zain Idris, Norbik Bashah Engku Ali, Engku Rabiah Adawiah QA75 Electronic computers. Computer science Central Bank Digital Currency (CBDC) is a digital form of central bank money and is different from traditional reserves or settlement accounts balances. In line with the digital technology era, CBDC has gained interest among the majority of the countries. Central banks in a number of countries have started experimenting, piloting, launching, and have laid their direction on CBDC. However, the development of CBDC in Malaysia is still behind compared to many other countries in the world. This paper aims to present the current status of CBDC in Malaysia. To achieve the goal, this paper explores literature reviews on CBDC, countries’ milestones on CBDC and Malaysia’s Central Bank's stand on CBDC. This review found that Malaysia’s Central Bank has no intention for the immediate plan for CBDC in Malaysia. However, Malaysia’s Central Bank continues to assess the CBDC potential, especially in the digital assets and payments space. This study also found that Malaysia’s Central Bank participated in a cross-border payments trial under Project Dunbar. Jasni Mohamad Zain2, Norbik Bashah Idris1 and Engku Rabiah Adawiah Engku Ali1 2021-11-06 Proceeding Paper PeerReviewed application/pdf en http://irep.iium.edu.my/97921/1/THE%20CENTRAL%20BANK%20DIGITAL%20CURRENCY%20IN%20MALAYSIA%20A%20LITERATURE%20REVIEW.pdf Awang Abu Bakar, Normi Sham and Yahya, Norzariyah and Khairuddin, Irni Eliana and Ahmad Firdaus, Zainal Abidin and Jasni, Mohamad Zain and Idris, Norbik Bashah and Engku Ali, Engku Rabiah Adawiah (2021) The Central Bank Digital Currency in Malaysia: a literature review. In: The International Conference on Business and Technology (ICBT 2021), 6-7 November 2021, Istanbul, Turkey. (Unpublished) https://conferencealerts.com/show-event?id=236334 |
| spellingShingle | QA75 Electronic computers. Computer science Awang Abu Bakar, Normi Sham Yahya, Norzariyah Khairuddin, Irni Eliana Ahmad Firdaus, Zainal Abidin Jasni, Mohamad Zain Idris, Norbik Bashah Engku Ali, Engku Rabiah Adawiah The Central Bank Digital Currency in Malaysia: a literature review |
| title | The Central Bank Digital Currency in Malaysia: a literature review |
| title_full | The Central Bank Digital Currency in Malaysia: a literature review |
| title_fullStr | The Central Bank Digital Currency in Malaysia: a literature review |
| title_full_unstemmed | The Central Bank Digital Currency in Malaysia: a literature review |
| title_short | The Central Bank Digital Currency in Malaysia: a literature review |
| title_sort | central bank digital currency in malaysia: a literature review |
| topic | QA75 Electronic computers. Computer science |
| url | http://irep.iium.edu.my/97921/1/THE%20CENTRAL%20BANK%20DIGITAL%20CURRENCY%20IN%20MALAYSIA%20A%20LITERATURE%20REVIEW.pdf http://irep.iium.edu.my/97921/ https://conferencealerts.com/show-event?id=236334 |
| url_provider | http://irep.iium.edu.my/ |