Boost today announced that they have received permission from Bank Negara Malaysia, to conduct their digital banking operations in Malaysia, effective from 15 January 2024.
In parallel with the announcement, Boost has also published a one-stop page that shares more about digital banking. For information, this Boost digital bank license was received by a consortium that was also joined by RHB. Under this consortium, Boost has a stake of 60%, and RHB 40%.
According to the one-stop site, the name of the digital bank is seen to be branded as Boost Bank. The alpha test for this digital bank will be started in phases involving a small number of users before being expanded.
The official introduction date for Boost Bank has not been announced yet.
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BUSINESS & MONEY