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Finance

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.

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