KUALA LUMPUR: A Meta Platforms official on Wednesday criticized Malaysia’s plan to require social media platforms to apply for a regulatory license by January, saying the proposal lacked clear guidelines and gave social companies little time to comply, risking digital innovation and growth in the country.
Malaysia said in July it will require social media platforms and messaging services with more than eight million users to obtain a license, as part of efforts to curb financial scams, cyberbullying and sexual crimes online.
The companies could face legal action if they failed to do so by Jan. 1, 2025.
The plan has faced a backlash, with an Asian industry group that includes Meta urging the government in August to pause the move. Malaysia however has said it will not delay the proposed regulations, with Communications Minister Fahmi Fadzil saying tech companies must comply with local laws to continue operating the country.
Meta’s director of public policy for Southeast Asia Rafael Frankel said the firm has not yet decided if it plans to apply for the license ahead of the January deadline, due to a lack of clarity over the new regulations.
The timeline to apply for a license was “exceptionally accelerated” and the obligations for social media firms under the plan remained unclear, Frankel said in an interview with Reuters.
“These regulations tend to take a couple years to go through multiple iterations... to properly structure them and to balance the need for safety and ensure that you don’t inadvertently cap innovation and digital economic growth,” he said.
Malaysia’s communications ministry did not immediately respond to a request for comment on the interview.
In a Facebook post on Wednesday following a meeting with Meta representatives a day earlier, communications minister Fahmi thanked the company for its willingness to cooperate with the government but urged it to take more proactive measures against sexual content involving minors on its platforms.
Frankel said Meta shared the Malaysian government’s goal for a safe online environment and was working closely with the communications regulator to remove or restrict harmful content from its platforms.
“We don’t need a licencing regime in order to take online safety seriously. We already take it seriously,” he said.
Meta has shared its concerns with the government and hopes to “bridge the differences” over the proposed regulations before they are implemented, Frankel added, without providing details.
Malaysian authorities deem online gambling, scams, child pornography and grooming, cyberbullying and content related to race, religion and royalty as harmful.
Malaysia reported a sharp increase in harmful social media content earlier this year and urged social media firms, including Facebook parent Meta and short video platform TikTok (8645.HK), to step up monitoring on their platforms.
Meta says Malaysia’s social media licencing plan lacks clarity, threatens innovation
https://arab.news/24hvr
Meta says Malaysia’s social media licencing plan lacks clarity, threatens innovation
- Malaysia to require social media licenses by Jan. 1, says platforms must step up monitoring
- Meta says undecided if it will apply for licencing by deadline due to “exceptionally accelerated” iter and unclear obligations
Asharq Business with Bloomberg, Nasdaq to bring real-time US equities data to MENA
- Nasdaq to deliver exclusive real-time US equities market data
- Real-time updates fully integrated into Asharq Business’ data infrastructure and available across all platforms
RIYADH: Asharq Business with Bloomberg, the region’s leading business and financial news multi-platform channel, announced Tuesday a strategic three-year collaboration with Nasdaq, to deliver exclusive real-time US equities market data and updates to investors and decision-makers across the Middle East.
Through access to Nasdaq’s official data product, Nasdaq Last Sale (NLS), Asharq Business with Bloomberg will receive real-time last-sale trade updates and calculated insights across major US exchanges directly from the Nasdaq Market Center. The collaboration strengthens market transparency, enhances data-driven storytelling, and provides audiences and partners with deeper insight into global financial activity.
With a rapidly growing investor base in the region — and with Nasdaq serving as a primary destination for many Arab and regional investors — Asharq Business with Bloomberg reinforces its mission to deliver timely, accurate, and exclusive financial updates by integrating NLS data into its digital platforms, live markets coverage, and broader data ecosystem.
Leveraging its partnership with Bloomberg Media — which grants access to reporting from over 2,700 journalists and analysts worldwide — Asharq Business with Bloomberg continues to build on its reputation as the region’s most trusted and credible multi-platform business news source. The collaboration with Nasdaq underscores its commitment to providing reliable, data-backed content across social, digital, and streaming platforms, available for audiences anytime and anywhere.
Dr Nabeel Al Khatib, General Manager of Asharq News Network, commented: “It has been five years since the inception of Asharq Business with Bloomberg, and our audience has always been at the center of everything we do. We invest time and effort to understand what matters to them, ensuring we deliver data and stories that genuinely support informed decision-making. With growing regional interest in global markets, our collaboration with Nasdaq marks a strategic step toward offering a clearer, more comprehensive view of international financial activity. Through Nasdaq Last Sale, we aim to further empower our audience with transparent, real-time insights, strengthening their ability to navigate an increasingly interconnected global investment landscape.”
The Nasdaq leadership team added: “We are pleased to collaborate with Asharq Business with Bloomberg to broaden access to high-quality US market data in the Middle East. Through Nasdaq Last Sale, we aim to enhance transparency, support informed decision-making, and contribute to a more connected global investor community.”
