KUALA LUMPUR, Malaysia – Malaysian discount airline AirAsia Group announced on Thursday (July 1) that its fintech business has submitted a consortia application for a digital banking license in the nation. BigPay has teamed up with Malaysian Industrial Development Finance, a division of Permodalan Nasional, the country’s largest asset manager, and private equity firm Ikhlas Capital.
Nazir Razak, the former chairman of CIMB Group Holdings, launched Ikhlas in Singapore.
According to AirAsia, the partnership also includes a foreign corporation with fintech experience.
According to Reuters, AirAsia and its partners are among the bidders for up to five digital banking licenses that the Malaysian central bank plans to issue by early 2022, citing sources.
A joint venture between Grab and Singtel, telecoms operator Axiata, and a consortium backed by Chinese internet behemoth Tencent are among the other candidates.
Reuters/lk/Reuters/lk/Reuters/lk/Reuters/lk//n
Read More
