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Banking KAF Digital Bank Updates & Discussions, 5% p.a. weekly interest on first 2k MYR!

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TSTOS2
post Jan 14 2025, 11:59 AM, updated 2 months ago

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QUOTE(TOS2 @ Jan 13 2025, 11:07 PM)
QUOTE(ronnie @ Jan 14 2025, 12:27 AM)
Let's start with 5% p.a. For KAF
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QUOTE(nexona88 @ Jan 14 2025, 08:22 AM)
Please Open up one new Topic for this latest Digital Bank for our discussion ☺️
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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).

Here's what we know thus far from the latest official press release from KAF website:

QUOTE
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.


This post has been edited by TOS2: Aug 8 2025, 11:55 PM
TSTOS2
post Jan 15 2025, 09:17 PM

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BFM 89.9 Podcasts | Business | The Breakfast Grille

KAF IB: All Systems Go For The Digital Bank

Guest: Thariq Ahmad, Deputy CEO, KAF Investment Bank

To date, of the five licences for digital banks granted by Bank Negara, one has officially launched, while two others recently got the greenlight to start operating. That leaves two more, including the KAF Investment Bank-led consortium that comprises Carsome, Jirnexu and MoneyMatch. Thariq Ahmad is the Deputy CEO of KAF IB, breaks down where their digital bank is heading and if they can meet the BNM deadline to be up and running by the end of Q1.

https://www.bfm.my/content/podcast/kaf-digi...1-cybersecurity (no paywall)

(Reply/discuss in this thread: https://forum.lowyat.net/topic/4961821/+140 as I am not allowed to open this thread yet, sorry)

This post has been edited by TOS2: Jan 15 2025, 09:18 PM
TSTOS2
post Feb 28 2025, 12:04 PM

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

https://www.onzbanking.com/english

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

This post has been edited by TOS2: Mar 1 2025, 10:56 AM
TSTOS2
post Apr 26 2025, 09:33 AM

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QUOTE(ericlaiys @ Apr 25 2025, 07:01 PM)
look like today beta invitation out. Anyone received? any update to share
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Bingo! I am in.

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TSTOS2
post Apr 26 2025, 09:52 AM

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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
TSTOS2
post Apr 26 2025, 10:12 AM

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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. drool.gif

This post has been edited by TOS2: Apr 26 2025, 11:17 AM
TSTOS2
post Apr 26 2025, 11:17 AM

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QUOTE(poooky @ Apr 26 2025, 10:18 AM)
The site shows savings i-hibah 5% first 2k. Everything after is 3%. Meaning good to just part 2k to farm.
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Ah yes below 2k, not 5k paiseh laugh.gif
TSTOS2
post Apr 26 2025, 12:24 PM

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-Crediting and debiting account will prompt instantaneous and automated email notification, something only GX Bank has achieved so far.

-Tested with DuitNow transfer to and from Rize. Money received in both sides and out from both sides instantaneously, no issues.
TSTOS2
post Apr 26 2025, 12:28 PM

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QUOTE(wjleong15 @ Apr 26 2025, 12:19 PM)
I got it too
Can you successfully verified kyc?

I got this blank when trying on back side of ic
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Restarted iPhone and tried few times still stuck on this step
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Ah I used Android, no problem with camera... Seems like your app cannot recognize the camera...

Is your iOS version 16.0 and above?

user posted image

Source: https://www.kaf.com.my/Portals/0/Resources/...J7yj_LDjQ%3D%3D
TSTOS2
post Apr 29 2025, 08:55 AM

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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.

This post has been edited by TOS2: Apr 29 2025, 08:56 AM
TSTOS2
post Apr 29 2025, 03:40 PM

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QUOTE(ericlaiys @ Apr 29 2025, 10:27 AM)
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
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Wah they take your comments seriously it seems. Now transaction history does not show date but just time. laugh.gif
TSTOS2
post May 19 2025, 07:48 PM

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QUOTE(cutealex @ May 19 2025, 04:25 PM)
Hello, TOS2 smile.gif
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laugh.gif

Hello there. Sorry to see your post was reported. If you have any personal request, just PM me. If you have any queries or encounter any issues regarding KAF Digital Bank feel free to post your problem/issue here. This is an active community, so we will check and verify issues together from time to time.

The bank app is still in beta-testing phase, so do expect instabilities from time to time. Do limit your deposits to no more than 2000 MYR, as that is the maximum amount you can put to earn 5% p.a. weekly interest.

Hope that helps. biggrin.gif
TSTOS2
post May 22 2025, 02:16 PM

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QUOTE(ericlaiys @ May 21 2025, 10:30 PM)
anyone receive an enail about pod saving? what is this? it ask to do eky.
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Just another partner's app, nothing to do with KAF Digital Bank itself I think.

https://usepod.com/

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TSTOS2
post Jul 19 2025, 12:36 AM

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TSTOS2
post Aug 8 2025, 11:52 PM

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QUOTE(rocketm @ Aug 8 2025, 04:40 PM)
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.
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Hi, you can check their rates here: https://www.kafdigitalbank.com.my/produk

Unfortunately, we will not know the rates until the subsequent Tuesday of every week, unlike other banks. Interests are credited weekly.

Now that the Perintis beta phase is over, the rates may change. But from what I see on FB, the rate is still 5% p.a.for the first 2000 MYR and 3% p.a. for anything beyond 2000.

https://www.facebook.com/photo.php?fbid=245...63632179&type=3

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I will also change the thread description to reflect the official launch phase.



This post has been edited by TOS2: Aug 8 2025, 11:57 PM
TSTOS2
post Oct 14 2025, 10:06 PM

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1997.70 then? tongue.gif

 

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