DITO Licence Applications Remain Open Until Dec 31, 2026 - BNM

KUALA LUMPUR, March 10 (Bernama) -- The application for digital insurers and Takaful operators (DITOs) licences remains open until Dec 31, 2026, and Bank Negara Malaysia (BNM) may announce successful applicants during or after this period.

The central bank said it had received encouraging interest from various parties in applying for DITO licences, just three months into the two-year application window which started Jan 2, 2025.

"This positive reception reflects a strong belief in the push for greater innovation to enhance the insurance and takaful industry, and the planned consultation sessions with interested applicants are currently underway," it said in a statement today.

According to BNM, all interested applicants must consult BNM before submitting a formal application by emailing DITF@bnm.gov.my, and interested applicants must meet the criteria outlined in the Policy Document on Licensing and Regulatory Framework for DITOs. 

BNM Governor Datuk Seri Abdul Rasheed Ghaffour said that with DITO, BNM hopes to further strengthen the financial system with more inclusive, competitive, and efficient offerings that are in line with the evolving needs of consumers.

-- BERNAMA