The PEP also facilitates the New Idea Scheme (NIS) which aims to help businesses to testbed novel ideas via a regulatory sandbox. By testing the new business model within a controlled environment, we can introduce new solutions into the market without compromising much on public safety.
1. The New Idea Scheme supports proposals that,
2. Businesses should ensure that they consider the following before applying for NIS,
3. Some benefits of applying for the New Idea Scheme include,