KUCHING: Sarawak premier Abang Johari Openg says he accepts Bank Negara Malaysia’s (BNM) decision not to approve the state’s application for a digital bank licence.
He said the state would not reapply for the licence.
“I think it should be ok, not a problem.
“After all, we already have S Pay Global,” he told the media after attending the Aidilfitri open house of Sarawak Yang di-Pertua Negeri Abdul Taib Mahmud and his wife, Ragad Kurdi Taib, at the Borneo Convention Centre here today.
S Pay Global is a financial technology platform developed by the state.
The Sarawak entity, which failed to get the digital bank licence, was a consortium comprising Revenue Group and Kenanga Investment Bank Bhd.
On April 29, BNM announced that only five bidders had won the digital bank licences, with three consortiums — Boost Holdings Sdn Bhd and RHB Bank; GXS Bank Pte Ltd and Kuok Brothers Sdn Bhd; and Sea Ltd and YTL Digital Capital Sdn Bhd — awarded the licences under the Financial Services Act (FSA) 2013.
Two other consortiums — one comprising AEON Financial Service, AEON Credit Service Bhd and MoneyLion Inc; and the other led by KAF Investment Bank, were awarded the licences under the Islamic Financial Services Act 2013. - FMT
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