5 banks get digital licence approval

Bank Negara says five consortia have made successful applications to obtain a digital banking licence, three of which are led by Malaysian financial institutions. – The Malaysian Insight file pic, April 29, 2022.

BANK Negara Malaysia has announced the five successful applicants for a digital bank licence, of which three are majority-owned by Malaysian companies.

The following applicants, as approved by Minister of Finance Tengku Zafrul Tengku Abdul Aziz, are to be licensed under the Financial Services Act 2013 (FSA):

  • Boost Holdings Sdn Bhd and RHB Bank Bhd
  • a consortium led by GXS Bank and Kuok Brothers Sdn Bhd
  • a consortium led by Sea Ltd and YTL Digital Capital Sdn Bhd.

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