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Malaysia’s Axiata in talks with 11 to partner up for bid on digital bank license – Source Reuters Tech News

KUALA LUMPUR (Reuters) – Malaysian telecoms firm Axiata Group is talking to eleven potential partners, including banks, to jointly bid for a digital banking license, its deputy chief executive, Mohd Izzaddin Idris, said on Friday.

FILE PHOTO: A woman walks past the Axiata headquarters building in Kuala Lumpur, Malaysia, October 1, 2019. REUTERS/Lim Huey Teng/File Photo

Malaysia’s central bank plans to issue up to five licenses to new online banks offering either conventional or Islamic banking under a proposed framework set to be finalised by the end of June.

Last month, Reuters reported that Axiata was among companies including ride-hailing firm Grab, gaming firm Razer, AirAsia and lender CIMB, looking to apply for digital banking licenses in Malaysia.

Axiata has provided comments to and been engaging the central bank since its draft proposal came out in December, Mohd Izzaddin told an earnings briefing.

Axiata has been “pursued by several parties” for partnership on the…

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Source Reuters Tech News

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