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Insider2U > Gambling News > Ministry of Finance Stops Issuing New Gaming Permits Since 1990

Ministry of Finance Stops Issuing New Gaming Permits Since 1990

Daniel by Daniel
12 April 2023
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(Kuala Lumpur, Malaysia) The Ministry of Finance has announced that it has not issued new gaming permits since 1990, according to Prime Minister and Finance Minister Anwar Anwar. The ministry will only renew and manage existing gaming licenses and permits, as stated by Anwar in response to a question posed by Ahmad Yahya, a member of Parliament of the PAS Bogosenna.

Anwar’s written response, which was passed through Parliament, indicated that the Ministry of Finance had promised not to issue new gaming licenses since 1990. He also stated that the ministry has set strict conditions for license holders to ensure that the gaming industry can be effectively controlled and that gambling will not cause social problems such as gambling addiction.

The Ministry of Finance’s decision comes as a response to re-examining the provisions of the bill related to the gaming industry, aimed at reducing the problem of gambling addiction among the people. Anwar’s statement indicates that the ministry is committed to addressing this issue while managing the existing gaming licenses and permits.

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The gaming industry has been a contentious issue in Malaysia, with concerns about gambling addiction and its associated social problems. The government’s decision to stop issuing new gaming permits since 1990 is a significant move in regulating the industry and ensuring responsible gambling practices.

In conclusion, the Ministry of Finance’s decision to stop issuing new gaming permits since 1990 demonstrates the government’s commitment to addressing the issue of gambling addiction while managing the existing gaming licenses and permits. The strict conditions set by the ministry for license holders are aimed at ensuring that the gaming industry is effectively controlled and that it does not cause social problems such as gambling addiction.

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Daniel

Daniel

Daniel is a seasoned financial and cryptocurrency writer, having published more than 2,000 articles, guides, and market insights that are available to the public. He specializes in asset valuation and analysis, portfolio management, and the prevention of financial crime. Daniel excels at simplifying complex financial concepts, making them easy for the average person to understand. He has earned a Bachelor's Degree in Financial Economics and a Master's Degree in Financial Economics, and is currently pursuing a Doctorate that focuses on researching the Malaysia Economics and blockchain technology sectors.

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