ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Malaysia digital bank race heats up as license applications close

AirAsia among parties expressing interest in vying for 1 of 5 permits

Bank Negara Malaysia is expected to issue five digital banking licenses by the first quarter of next year. (Source photo by Reuters) 

KUALA LUMPUR -- The deadline to apply for a handful of digital banking licenses in Malaysia passed on Wednesday, with big corporations and e-wallet operators among the parties positioning themselves to take on the country's traditional banks in providing financial services.

Bank Negara Malaysia, the central bank, did not immediately reveal the number of applications but last month said about 40 parties had expressed interest.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more