- Aeon Bank Approval:
- Aeon Bank, based in Kuala Lumpur and formerly known as ACS Digital Berhad (ADB), has received approval from Malaysia’s central bank and the Ministry of Finance to commence operations.
- The new digital bank is a subsidiary of Japanese group Aeon Financial Service (AFS Japan) and an associate company of Aeon Credit Service (M) Berhad.
- Aeon Bank aims to launch Sharia-compliant digital banking services in Malaysia, focusing on financial inclusion for both individuals and small businesses.
- The approval comes nearly two years after securing its digital bank license, and the launch of its digital app is expected in the first half of the year.
- Aeon Bank’s CEO, Raja Teh Maimunah, emphasizes the goal of providing accessible, inclusive, and Shariah-compliant digital banking solutions to retail and business customers in Malaysia and the broader Aeon Group.
- The bank will conduct a beta testing phase of the app among the group’s employees before the full release to fine-tune and ensure it meets user expectations.
