Outline ·
[ Standard ] ·
Linear+
Banking BNM announced 5 digital bank licences
|
SUSxander83
|
 Jan 1 2021, 01:15 AM
|
|
QUOTE(GrumpyNooby @ Dec 31 2020, 06:16 PM) BNM rolls out policy document on licensing for digital banks, sets June 30 deadline for application submissionKUALA LUMPUR (Dec 31): Bank Negara Malaysia (BNM) has issued the policy document on Licensing Framework for Digital Banks following a six-month public consultation, and set June 30 as the deadline for submission of applications to the central bank for those wishing to conduct digital banking business. Digital banks will be required to comply with the requirements under the Financial Services Act 2013 (FSA) or Islamic Financial Services Act 2013 (IFSA), including standards on prudential, Shariah, business conduct and consumer protection, as well as on anti-money laundering and terrorism financing, BNM said in a statement today. https://www.theedgemarkets.com/article/bnm-...ine-application Seems like Shariah and AMLA compliance it is the key issue now that most of the applicants couldn’t convince BNM based on the framework And also looks like buying time for the major banks as well to JV with tech players to co apply the license jointly  |
|
|
|
|
|
SUSxander83
|
Feb 26 2021, 03:59 AM
|
|
|
QUOTE(cybpsych @ Feb 25 2021, 04:35 PM) Axiata to announce partnership for digital banking licence bid soon, says CEOhttps://www.theedgemarkets.com/article/axia...d-soon-says-ceoKUALA LUMPUR (Feb 25): Axiata Group Bhd has agreed to partner with a company for its bid for a digital banking licence and will be announcing the details soon. This was revealed by the telco's newly-appointed chief executive officer Datuk Mohd Izzaddin Idris at the group's financial results virtual briefing today. However, he did not reveal the name of the company. “We have narrowed down to just one (company) and hopefully we can announce that shortly in the next couple of weeks. “The deadline of June 30 is not too far away. We hope to announce the partnership, the equity partnership with one partner and at the same time we hope to announce the commercial partnerships with a few other organisations,” he said. ... No need to tell will be with CIMB for sure |
|
|
|
|
|
SUSxander83
|
Jun 17 2021, 04:04 AM
|
|
|
QUOTE(TOS @ Jun 16 2021, 08:28 PM) Foresee gonna be with either with Alliance Bank or OCBC or UOB as their partner Seems like most banks are gonna partner instead taking the direct route with 5 licenses for sure 3 is confirmed taken with 2 still up for grabs from over 40 bidders |
|
|
|
|
|
SUSxander83
|
Jun 18 2021, 05:19 PM
|
|
|
QUOTE(TOS @ Jun 17 2021, 10:08 AM) Which 3 are "confirmed"? Mind sharing your thoughts? 3 major banks as I am sure you will know which ones The question lies who are their partnership with The ones with current banking license will be easy to approved due to BNM regulations and risk mitigation factors while those struggling and will have to setup consortium in order to get share of the pie |
|
|
|
|
|
SUSxander83
|
Jun 30 2021, 04:31 AM
|
|
|
QUOTE(nicemamak @ Jun 29 2021, 10:18 PM) Is Grabpay and Touch n Go belong to Maybank? Maybank has a strategically stake their shares with Grab in exchange for a stake in Grab Touch n Go majority shareholder one of them is CIMB with Ant Financial |
|
|
|
|
|
SUSxander83
|
Jun 30 2021, 06:36 PM
|
|
|
QUOTE(TOS @ Jun 30 2021, 05:44 PM) More details on iFAST's consortium. They partner with Koperasi Angkatan Tentera and others. https://links.sgx.com/FileOpen/iFAST_MY%20D...t&FileID=673073Looks promising on paper but execution is key Most likely Affin will join as the financial partner later as current banking license doesn’t need to apply the new digital banking license as they can migrate easily from it if they want to with BNM blessings |
|
|
|
|
|
SUSxander83
|
Jul 1 2021, 04:11 AM
|
|
|
QUOTE(jorgsacul @ Jun 30 2021, 09:51 PM) BigEarPay coming to town soon BigPay should have MMF after that to secure more deposits for their digital bank |
|
|
|
|
|
SUSxander83
|
Jul 5 2021, 05:47 AM
|
|
|
QUOTE(contestchris @ Jul 4 2021, 11:57 AM) Banks shouldn’t be allowed to compete as they already have a full banking license. Only non banking entities should be allowed to compete, except for existing banking associates such as TNGD. Banks join in because they don’t need the license but they want the customer base for them cross sell their current conventional products They are actually to kill the competitors without putting any major investment |
|
|
|
|
|
SUSxander83
|
Feb 12 2022, 02:07 AM
|
|
|
QUOTE(Tronoh @ Feb 11 2022, 09:37 PM) In terms of feature offering, except Grab, i don't see any who can offer more than MAE, and i don't even use MAE a lot. Can't just keep offering discounts to attract people. Anyway, whoever can offer top up via credit card + fund withdrawal gets my money DEfinitely no no for CC top up  while fund withdrawal with cash top up is for sure available after seeing their sandbox testing |
|
|
|
|
|
SUSxander83
|
Feb 15 2022, 01:37 AM
|
|
|
QUOTE(MUM @ Feb 14 2022, 12:30 AM) one of the winner? KUALA LUMPUR (Feb 13): Al Rajhi Bank Malaysia (ARBM) has announced the appointment of Ikram Khaliq as its head of digital bank. ........ The move follows the announcement in December last year that the Islamic bank will be launching its digital bank this year. .......... This, Arsalaan said, is in line with the strategic thrusts of the Financial Sector Blueprint 2022-2026 which focuses on the advancement of digitalisation of the financial sector as well as Islamic finance leadership, on top of the government’s emphasis on digital technology as outlined in the 12th Malaysia Plan. “We are excited to be here as the new workspace enables ARBM to grow our digital bank in line with our vision of becoming the No 1 Islamic innovation bank in Malaysia,” he added. https://www.msn.com/en-my/money/topstories/...V?ocid=msedgntpAnother version OCBC Flex but Islamic Shariah type |
|
|
|
|
|
SUSxander83
|
Mar 31 2022, 01:18 AM
|
|
|
QUOTE(wjleong15 @ Mar 30 2022, 10:47 PM) CODE https://www.theedgemarkets.com/article/bnm-says-make-digital-banking-licence-announcement-upon-legal-process-completion BNM to make digital banking licence announcement upon completion of legal process delay again... You believe nonsense from BNM It is basically to tip the scales towards the cronies instead |
|
|
|
|
|
SUSxander83
|
Apr 1 2022, 02:23 AM
|
|
|
QUOTE(tehoice @ Mar 31 2022, 10:32 AM) LOL, in this case if we can't trust BNM, who can we trust? Xander? 1stly as a central bank legal compliance and process should be even completed before even start a tender process in the 1st place If you think BNM is trustable think again how much money have been swindled easily and no part and thanks BNM for allowing it as well |
|
|
|
|
|
SUSxander83
|
Apr 14 2022, 12:19 AM
|
|
|
QUOTE(Boneny @ Apr 13 2022, 10:51 PM) It has been 2 weeks past due. What's going on? Waiting for kickbacks from cronies to award the license to |
|
|
|
|
Quote
0.0286sec
0.72
7 queries
GZIP Disabled