PETALING JAYA: Aizo Group Bhd, via unit Uniqa (M) Sdn Bhd, has been granted a Class B Money services business licence (remittance only) by Bank Negara.
In a statement, the civil engineering specialist said the license marks the company’s strategic entry into the regulated remittance and cross-border payment services sector.
“The licence, issued pursuant authorises Uniqa to conduct remittance services, enabling the company to facilitate international money transfers for individuals and businesses.”
Aizo said the license is valid for a period of one year until March 3, 2027.
“The approval represents an important step in Aizo’s broader strategy to diversify into financial technology-enabled services and strengthen its participation in Malaysia’s growing digital payments and cross-border financial services ecosystem.
With increasing regional trade flows, migrant remittances and digital commerce activities across South-East Asia, Aizo said the remittance sector continues to demonstrate strong structural demand.
“Through Uniqa’s newly secured licence, Aizo intends to develop compliant and efficient remittance solutions that leverage technology-driven platforms to facilitate secure and seamless cross-border transactions.”
Aizo executive chairman Datuk Abang Abdillah Izzarim said the approval of the money services business licence for Uniqa marks a meaningful milestone for Aizo as it expands beyond its traditional operating segments into regulated financial services.
“This initiative reflects the Group’s ongoing efforts to diversify revenue streams and capture opportunities emerging from the rapid growth of digital payments and cross-border financial transactions in the region.
“With the regulatory framework now in place, we intend to progressively develop Uniqa’s remittance capabilities through technology platforms and strategic partnerships, while maintaining the highest standards of compliance and governance required by Bank Negara.”
