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KUCHING – Sarawak Premier Tan Sri Abang Johari Openg has said 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 open house ceremony hosted by Sarawak Yang di-Pertua Negeri Tun Abdul Taib Mahmud and his wife Toh Puan Ragad Kurdi Taib at the Borneo Convention Centre Kuching here, today.
S Pay Global is a financial technology platform developed by the state.
The Sarawak entity that failed to obtain the digital bank licence was a consortium comprising Revenue Group Bhd and Kenanga Investment Bank Bhd.
On April 29, BNM announced that only five bidders had won digital bank licences, with three consortiums – Boost Holdings Sdn Bhd and RHB Bank Bhd; 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 2013.
Two other consortiums – one comprising Aeon Financial Service, Aeon Credit Service Bhd and MoneyLion Inc; and the other led by KAF Investment Bank Bhd, were awarded licences under the Islamic Financial Services Act 2013. – Bernama, May 2, 2022