KAF Digital Bank Receives Approval to Start Islamic Digital Banking Operations

Today, there are several digital banks operating in Malaysia, including GX Bank, AEON Bank and Boost Bank. Joining them soon is KAF Digital Bank.

Sharing this, KAF Investment Bank Berhad today stated that KAF Digital Bank has received approval from Bank Negara Malaysia and the Ministry of Finance to start operations. KAF Digital Bank is a consortium led by KAF Investment Bank Berhad and joined by Carsome, MoneyMatch, Jirnexu and StoreHub.

This new digital bank will use the KAF Digital Bank brand, and will begin alpha and beta testing soon. For now, it has not been shared when KAF Digital Bank will offer its Islamic banking services to the public. Apart from KAF Digital Bank, another digital bank focusing on Islamic banking is AEON Bank.