KUALA LUMPUR, June 17 — Bank Negara Malaysia (BNM) and the government are working on implementing the RESET initiative to address the high medical inflation in Malaysia.
BNM Governor Datuk Seri Abdul Rasheed Ghaffour said the initiative is a joint commitment undertaken with the Health Ministry and the Finance Ministry (MOF), aimed at revamping medical and health insurance, as well as takaful.
The RESET initiative will also serve to enhance price transparency, strengthen digital health systems, expand cost-effective care options, and transform provider payment mechanisms.
“The success of RESET hinges on the involvement of all stakeholders in building a more accessible and resilient healthcare system and formulations,” he said in his welcoming address at the Sasana Symposium 2025 today.
Rasheed added that more details on RESET and the broader healthcare reforms will be discussed in the panel session, titled “Rising Cost, Rising Stakes: Expediting Reforms to Address Medical Inflation”, which will be held tomorrow.
The session will feature Rasheed alongside Health Minister Datuk Seri Dr Dzulkefli Ahmad, Treasury secretary-general Datuk Johan Mahmood Merican, and World Bank senior economist Aakash Mohpal.
Meanwhile, he emphasised that structural reforms require a whole-of-nation approach, and one area where this was on full display is in the healthcare reforms, where rising medical inflation demands a more coordinated approach.
Rasheed noted that against the backdrop of economic uncertainties, open discourse is vital for gathering the best ideas to enable Malaysia to respond effectively to external challenges while continuing to drive structural reforms for the country.
“We are approaching this environment from a position of strength. The latest high-frequency indicators, such as the manufacturing Industrial Production Index (IPI), services, exports and wages, point toward a resilient growth of the Malaysian economy,” he said.
— Bernama
