PETALING JAYA: Aeon Bank (M) Bhd has received approval from Bank Negara Malaysia and the Ministry of Finance to commence its digital banking operations in Malaysia, positioning it as the first Islamic digital bank in Malaysia.
The approval was granted pursuant to BNM’s validation of the bank’s operational readiness. Aeon Bank is an associate company of Aeon Credit Service (M) Bhd and a subsidiary of Aeon Financial Service Co Ltd (AFS Japan).
“Our core mission is to advance the promotion of financial inclusion and Islamic banking. As part of one of Malaysia’s most recognised retail household brands, we aim to provide accessible, inclusive and syariah-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 which are simplified, safe and secure,” said Aeon Bank CEO Raja Teh Maimunah.
Meanwhile, Aeon Credit managing director Daisuke Maeda said the momentous occasion marks a significant leap forward in redefining financial services provided by Aeon Group and reaffirms their commitment to continue supporting financial inclusivity.
Aeon Group is aiming to expand and enhance the provision of its services to its retail and wholesale customers as well as ecosystem partners such as its auto dealers, merchants, suppliers, tenants, among others. In addition, the bank’s advocacy of digital technology will facilitate the introduction of new and innovative products for the Aeon Group, thus enhancing the overall value proposition for its diverse customer base and ecosystem partners.
“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,” said Maeda.
Aeon Bank is aiming to extend financial services to both individuals and small businesses who would not have access to funding and other financial services.
In addition, the bank will prioritise financial literacy and education initiatives to empower individuals and small businesses with the knowledge and tools to make informed financial decisions.
The bank plans a phased rollout of its app, beginning with an exclusive beta testing phase with the Aeon Group of employees.
“As we prepare to introduce our app, we recognise the critical importance of gathering insights and feedback from users to refine and optimise the app. By initially offering access to a select group of beta testers, we aim to collaboratively fine-tune the app to ensure it meets the expectations of our wider user base upon full release,” said Raja Teh.
