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KUALA LUMPUR, March 31 - Malaysia's central banksaid on Wednesday it will set out its developmental andregulatory priorities in a new five-year blueprint for thefinancial sector to be released in early 2022.
The plan, dubbed Blueprint 3.0, will focus on enablingtechnology and data-driven innovation, enhancingcompetitiveness, and expanding access and responsible usage offinancial solutions, Bank Negara Malaysia (BNM) said in itsannual report.
"Blueprint 3.0 will also emphasise the catalytic role of thefinancial sector in advancing the sustainability agenda, inparticular climate-related risks to support an orderlytransition towards a greener economy," BNM said.
Malaysia's economy shrank 5.6% in 2020, suffering itsbiggest full-year contraction since the Asian Financial Crisisin 1998 amid the coronavirus pandemic.
BNM said its 2021 monetary policy will remain accommodativeto support a sustained economic recovery post-pandemic. REUTERS