Boost-RHB digital bank consortium gets approval to commence operations in Malaysia

Boost Bank chief executive officer Fozia Amanulla

PETALING JAYA: Boost, the fintech arm of Axiata Group Bhd, together with its consortium partner, RHB Banking Group (RHB), has received the official approval from Bank Negara and the Finance Ministry to commence operations as a digital bank, with effect from Jan 15, 2024.

In a joint statement, Boost and RHB said the consortium becomes the first primarily Malaysian-owned digital bank to commence operations with a pioneering embedded digital bank app in the local market, designed to meaningfully address financial inclusion gaps for the underserved and unserved.