KAF digital bank operations approved by BNM and MOF!

https://www.sinchew.com.my/news/20250113/finance/6217572

Ready for alpha stage testing soon!

https://fintechnews.my/47600/digital-bankin...f-digital-bank/

KAF official press release: https://www.kaf.com.my/Portals/0/KIB/Announ...%20Approval.pdf

Let's start with 5% p.a. For KAF

Please Open up one new Topic for this latest Digital Bank for our discussion ☺️

KAF Investment Bank Berhad Receives License Approval to Commence Operations for KAF Digital Bank

The Islamic digital bank consortium led by KAF Investment Bank Berhad, together with Carsome, MoneyMatch, Jirnexu and StoreHub, announced that they have received
official approval from Bank Negara Malaysia (BNM) and the Ministry of Finance (MoF) for its operating entity KAF Digital Berhad to commence operations as a digital bank,
starting 20th of December 2024. This approval is granted following a comprehensive and successful operational readiness review recently validated by BNM.

The operating entity, which is now formally known as KAF Digital Bank, seeks to deliver a robust and resilient banking infrastructure that underpins the trust and
expectations from Malaysians. Together with the consortium partners, entities which are 100% Malaysian and comprise well-known household names, KAF Digital Bank
aims to serve the people while continuously strive to deliver Shariah compliant innovative banking products and services.

KAF Digital Bank will soon move forward into an Alpha Testing Phase with a small select user group prior to progressing into a Beta Phase with a wider user group. Upon
successful completion of the closed-group testing phases, KAF Digital Bank will be made ready for public sign-ups. We aim to continuously improve our product value
propositions and provide our customers with a secure, safe and efficient banking platform, catering to the evolving needs of today’s tech and financially savvy customers.

As nexona88 requested, new thread for KAF digital bank-related discussions and updates. KAF will be the 4th digital bank in Malaysia, after GX Bank (launched Noivember 2023), AEON Bank (May 2024), and BoostBank (June 2024). 

Some updates I received via email from MoneyMatch but somehow related to KAF Digital Bank

https://www.onzbanking.com/english



Feel free to discuss at https://forum.lowyat.net/topic/4961821/+140

IOS can download the app. did not try register as no benefit

5% yield incoming?

https://play.google.com/store/apps/details?...fdigitalbanking

The app released on Play Store. Can't register yet but the UI make me think it will be inconsistent

look like today beta invitation out. Anyone received? any update to share

Interest seems to be credited weekly: https://www.kafdigitalbank.com.my/produk

5% p.a. below 5000 MYR for now.

App is a little buggy. After initial deposit still cannot do transfer, need to quit app then relogin (this time with biometric settings automatically enabled), then you can access everything.

Simple interface for now. Nothing too flowery. Cannot take screenshot of any page within KAF app in Android phone, looks secure...

All in for 5% p.a. weekly interests.

Interest seems to be credited weekly: https://www.kafdigitalbank.com.my/produk

5% p.a. below 5000 MYR for now.

App is a little buggy. After initial deposit still cannot do transfer, need to quit app then relogin (this time with biometric settings automatically enabled), then you can access everything.

Simple interface for now. Nothing too flowery. Cannot take screenshot of any page within KAF app in Android phone, looks secure...

All in for 5% p.a. weekly interests.

The site shows savings i-hibah 5% first 2k. Everything after is 3%. Meaning good to just part 2k to farm.

Bingo! I am in.

Important documents

Terms of Usage:

https://www.kaf.com.my/Portals/0/Resources/...J7yj_LDjQ%3D%3D

Perintis User Guidelines:

https://www.kaf.com.my/Portals/0/Resources/...k73uDWJQQ%3D%3D

Interest seems to be credited weekly: https://www.kafdigitalbank.com.my/produk

5% p.a. below 2000 MYR for now.

App is a little buggy. After initial deposit still cannot do transfer, need to quit app then relogin (this time with biometric settings automatically enabled), then you can access everything.

Simple interface for now. Nothing too flowery. Cannot take screenshot of any page within KAF app in Android phone, looks secure...

All in for 5% p.a. weekly interests.

The site shows savings i-hibah 5% first 2k. Everything after is 3%. Meaning good to just part 2k to farm.

Since we got early access hope they heard our feedback when we complain about the bank.

Bingo! I am in.

I got it too
Can you successfully verified kyc?

I got this blank when trying on back side of ic

Restarted iPhone and tried few times still stuck on this step

registration done, smooth on apple. can deposit and transfer without any problem. anyone can get visa virtual card? no apply option

The app still laggy, the interface simple but looks old almost like Rize app. Receive and send instant and the receipt hide the receiver name?

still beta, unhappy just send feedback. that why you are perintis to test . dont expect bug free

Ah I used Android, no problem with camera... Seems like your app cannot recognize the camera...

Is your iOS version 16.0 and above?



Source: https://www.kaf.com.my/Portals/0/Resources/...J7yj_LDjQ%3D%3D

Latest 18.4.1
Can take front ic
Back ic became that problem

registration done, smooth on apple. can deposit and transfer without any problem. anyone can get visa virtual card? no apply option

Website stated:-

They don't let me download even though I am on mi 10 android 12

Finally using another iphone to complete the kyc
And activate using my phone
During upgrade unable to submit document despite can select the file
Anyone encountered the same upgrade issue?

For the new army of beta testers last week, the first weekly interest (hibah) has been credited to your KAF account this morning. No notification is made via email or app.

yeah, got the interest. transaction history detail showed other transaction and date 2020.....like this also can. reported as well for them to fix it

Wah they take your comments seriously it seems. Now transaction history does not show date but just time. 

Successful! No more account balance left at AEON Bank. Bye bye thrifty kiamsiap AEON... 

wow i can't withdraw my last RM20.. probably will wait 2-3 days

my issue different from yours

Arsyad1105 wrong topic. I opened and closed last year already. Reaped the opening promo benefits. Very buggy bank even till the end

I guess you all didn't use this bank much? I just want to try using it for a month but not even a minute already got a problem. I transferred my money to KAF and guess what? No money credited.



Reported it but since it's Sunday I have to wait for tomorrow. Maybe  money will go in like IBG 🙃

Been using these digital bank without any issue. Most likely is Kaf as still beta and quite unstable with many error.
My current ranking on stability
1. Gxbank
2. Aeon
3. Boost bank
4. Kaf

anyone got virtual debit card? FB say it is available but not on my account.
(update)
after open case, they have fixed it. now virtual debit card is available

Can review the virtual card?

anyone got virtual debit card? FB say it is available but not on my account.
(update)
after open case, they have fixed it. now virtual debit card is available

Neither me
How to open a case?

Hello, TOS2

anyone receive an enail about pod saving? what is this? it ask to do eky.

Just another partner's app, nothing to do with KAF Digital Bank itself I think.

https://usepod.com/

------------------------

what is KAF's interest rate?

5%

currently in beta right? Can still join the beta?

yes in beta. u can try submit. up to them. think they going live soon as want to fight with ATLAS and Ryt bank

live already?

beta user only

they are also piloting the debit card now

u mean physical? i'm using their virtual debit card. not much benefit at this moment

For the 5% is it daily rest calculated?

public launching on 8 aug- anyone know what is new interest rate and promotion?

If 5% then I take up...

If less... Need to reconsider

Now it's 2k only

I just applied and throw 2k in. Better than nothing for now

So there's no change of the 2k??

Same like previously given??

Based on tiered interest rate, seems like Atlas is slightly more worth it with RM5.95 per week vs KAF's RM5.38 per week using RM8k as principal.

Based on tiered interest rate, seems like Atlas is slightly more worth it with RM5.95 per week vs KAF's RM5.38 per week using RM8k as principal.

atlas full already from 5th Aug already no more 5%
i put back kdi on 6th

yeah, got the interest. transaction history detail showed other transaction and date 2020.....like this also can. reported as well for them to fix it

Wah they take your comments seriously it seems. Now transaction history does not show date but just time. 

Anyone successfully passed the verification after activated by deposit min RM10?

Mine is still reviewing for verification after 1 hour of the deposit.

You mean cooling off period?

Hi guys,
Since you are the first batch of the account holder, may I know do you always get 5% for the first RM2000 deposit?

Is there any annual fee for their virtual debit card?

Thanks for sharing.

yes. weekly on tue.
debit card no fees.
now dunno what is the effective rate

Yes, 1 hour of the colling off period, till now still pending for verification.

Are you having the same issue?