Five consortia get digital bank licences

KUALA LUMPUR: Five consortia namely Boost Holdings Bhd-RHB Bank Bhd, GXS Bank Pte Ltd-Kuok Brothers Sdn Bhd, Sea Ltd-YTL Digital Capital Sdn Bhd, AEON Financial Service Co Ltd-AEON Credit Service (M) Bhd-MoneyLion Inc and KAF Investment Bank Sdn Bhd win Malaysia’s digital bank licences.

In a statement today, Bank Negara Malaysia (BNM) said Boost-RHB Bank, GXS Bank-Kuok Brothers and Sea Ltd-YTL Digital Capital were licensed under the Financial Services Act 2013 (FSA).

Meanwhile, AEON Financial Service-AEON Credit-MoneyLion consortium and KAF Investment Bank were licensed under the Islamic Financial Services Act 2013. – Bernama