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Payment Card Reform Framework (PCRF): A Policy Evaluation Study

October 11, 2018

DECRG Kuala Lumpur Seminar Series

  • In recent years, Bank Negara Malaysia (BNM), the Malaysian central bank, has taken various initiatives to accelerate the migration to electronic payments (e-payments) in Malaysia. It sees e-payments as “one of the strategic tools for achieving greater economic efficiency, productivity and growth” (Bank Negara Malaysia, 2011). This paper reviews some of the assumptions underlying the Payment Card Reform Framework (PCRF) programme, assesses its progress to date and suggests steps that might be taken to improve the chances of achieving the Bank’s objectives.

    Download the paper


  • Wing Leong Teo

    Wing Leong Teo joined the School of Economics, University of Nottingham Malaysia Campus as an Associate Professor in July 2011. He received his Ph.D. in Economics from the Johns Hopkins University in 2006. Prior to joining UNMC, he has taught at the National Taiwan University. His research interests include macroeconomics, international finance and monetary economics. Wing Leong has been an academic visitor to the Federal Reserve Bank of Richmond, the City University of Hong Kong, as well as a consultant for the Central Bank of China (Taiwan). He is also a research fellow of the Centre for Finance, Credit and Macroeconomics (CFCM) and a research fellow and the Malaysia Coordinator for the Nottingham Centre for Research on Globalisation and Economic Policy (GEP). He has assumed the role of Head of School of Economics at the University of Nottingham Malaysia Campus since February 2014.

    Laurence Todd

    Laurence Todd is the Director of Research and Development at IDEAS. Laurence is a public policy professional with a wide range of experience in economic policy, business regulation and international trade. Prior to joining IDEAS, Laurence served in a number of different roles in the UK Government, including in Her Majesty’s Treasury and the Ministry of Defense.

    Tan Nyat Chuan

    Mr. Tan Nyat Chuan is Assistant Governor at Bank Negara Malaysia. He joined BNM in 1987. During his 31 years with the Central Bank, he has spent 10 years in the Banking Supervision Department, 5 years in the Investment Operations and Financial Markets Department specializing in treasury risk management, 5 years in the Payment Systems Policy Department, 4 years as the Director of the Internal Audit Department, and 5 years as the Director of the Payment Systems Policy Department. He holds an MBA from the Manchester Business School, United Kingdom.

    Isaku Endo

    Isaku Endo is a Senior Financial Sector Specialist in Finance, Competitiveness and Innovation Global Practice at the World Bank. He advises governments on financial sector development policies and regulatory issues. Currently, based in Manila, he serves as a financial sector focal point for the Philippines. He is specialized in financial market infrastructures, payment systems, and remittances. Prior to this, he worked in the Financial Market Integrity Unit where he worked on anti-money laundering and combatting the financing of terrorism, remittances issues and access to finance.


  • WHEN: Thursday, October 11, 2018; 12:30-2:00PM
  • WHERE: World Bank Malaysia Office, Level 3, Sasana Kijang, No. 2, Jalan Dato’ Onn
  • RSVP: Kindly RSVP by Wednesday, October 10, 2018