Bank Negara Unveils RENTAS+ to Strengthen Malaysia's Financial Market Infrastructure
Bank Negara Malaysia has unveiled RENTAS+, an upgrade to its real-time gross settlement (RTGS) system. The new system, introduced by Governor Dato' Sri Abdul Rasheed Ghaffour, aims to strengthen Malaysia's financial market infrastructure and provide a secure, scalable platform for future innovations. The upgrade, RENTAS+, responds to the rapid growth in retail payments, with daily transaction volume and value surging by 49% and 22% respectively since 2024. RENTAS, launched in 1999, has settled transactions worth RM73.63 trillion in 2024, equivalent to 45 times Malaysia's GDP. RENTAS+ introduces a 24/7 automatic liquidity facility, enabling continuous, round-the-clock interbank fund transfers and settlements, making it the first system in the ASEAN region to offer such a service. The upgrade also eliminates credit and settlement risks by settling retail transactions on a gross basis immediately after completion. Governor Dato' Sri Abdul Rasheed Ghaffour stated that the launch of RENTAS+ is part of a multi-year modernisation plan for the system, strengthening the resilience of Malaysia's financial market infrastructure and providing a secure, scalable, and flexible settlement platform for future innovations.
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