Islamic digital bank to be operational within 2 years, says AEON Credit

KUALA LUMPUR: Aeon Credit Service (M) Bhd and its consortium partners have secured an Islamic digital bank licence from the Ministry of Finance (MoF), with operations expected to commence within 24 months from its approval date.

In a Bursa Malaysia filing, AEON Credit said the tripartite consortium, comprising AEON Credit, AEON Financial Service Co., Ltd (AFS) and MoneyLion Inc. (MLI), will have a 45:45:10 per cent stake, respectively, in the proposed Islamic digital ban.