As the first quarter draws to an end in approximately two weeks and Muslims have started fasting in the holy month of Ramadan, I would like to reflect on some milestones in expediting innovation to strengthen Malaysia’s future economy.
Set-up by the Ministry of Finance Malaysia in 2018, Futurise was mandated to spearhead the National Regulatory Sandbox (NRS) initiative, to provide solutions to regulatory challenges that can potentially hinder technology and innovation from operating efficiently in the market. The NRS initiative is meant to address industry and investor concerns that innovation faces challenges when deployed in the marketplace due to either the lack of, or at times, outmoded regulatory frameworks. To a question that I get asked a lot, if I could put it in simpler terms, Futurise paves the ground for new and innovative ideas to operate in the market through safe testing of regulations and policies in a secured environment called a sandbox