Malaysia: Central Bank Issues Guidelines on Open Application Programming Interfaces for Financial Institutions

On January 7, 2019, Bank Negara Malaysia (BNM) released a policy document entitled “Publishing open data using open API”, in which the BNM sets out its guidelines on the design and publication of open application programming interfaces (APIs) for open data.

The policy document applies to licensed financial institutions in Malaysia, including banks, intending to publish open APIs. However, APIs that are private, in that they facilitate information flow within an organisation by connecting different databases or systems, and partner APIs, which support interfaces between a data provider and a third party which have entered into business relationships, are left out of the scope of the guidelines.

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