Malaysia – AEON Bank Berhad announced it has officially gained approval from Bank Negara Malaysia (BNM) and the Ministry of Finance to commence its digital banking operations in Malaysia, making it the country’s inaugural Islamic digital bank.
The approval granted to the Bank is pursuant to BNM’s validation of its operational readiness. AEON Bank is an associate company of AEON Credit Service Berhad and a subsidiary AEON Financial Service Co., Ltd.
Now with a ‘go-signal’ from the authorities, AEON Bank will work on forwarding its advocacy of digital technology, facilitating the introduction of new and innovative products for the AEON Group, and enhancing the overall proposition for its diverse customer base and partners.
The Bank also aims to further its commitment to promoting financial inclusion by extending financial services to individuals and small businesses that do not have access to funding. Additionally, it plans to prioritise financial literacy and education initiatives to empower consumers with the knowledge and tools to make informed financial decisions.
AEON Bank is planning to unveil the phased rollout of its new application in the first half of the year. It will first conduct an exclusive beta testing phase with AEON Group employees.
Raja Teh Maimunah, chief executive officer at AEON Bank, said, “Our core mission is to advance the promotion of financial inclusion and Islamic banking. As part of Malaysia’s most recognised retail household brands, we aim to provide accessible, inclusive, and Shariah-compliant digital banking solutions to our AEON Group of customers as well as to all Malaysians. It is our intent to empower our communities with access to digital financial services that are simplified, safe, and secure.”
Meanwhile, Daisuki Maeda, managing director of AEON Credit, also added, “This momentous occasion marks a significant leap forward in redefining financial services provided by the AEON Group and reaffirms our commitment to continuing our support for financial inclusivity.”
“As AEON Group Malaysia celebrates 40 years of trust, we see AEON Bank as an opportunity to provide more to our loyal customers and business partners who have been the bedrock of our success,” he emphasised.