LABUAN: The Labuan Financial Services Authority (LFSA) approval to MobilityOne Sdn Bhd to provide a full-fledged Shariah compliant digital Islamic banking makes its owner Dato Hussian A Rahman (pic) effectively the first local to score such success in financial technology (fintech).
Hussian KL-based businessman who hails from Kampong Temiang and an alumnus SMK Labuan is no stranger to fintech as his company MobilityOne is established with 20 years of experience in Malaysia and was the winner of the Most Innovative Payment solutions in 2018.
Additional to this the company is a subsidary of MobiityOne Limited UK, a listed company in the London Stock Exchange (LSE) of which Hussain is a founder. This puts Hussain in strong position in embarking into a bigger field.
Hussian described the approval as a new important milestone achievement and said “ the license would enable the company to provide a diversified range of products to serve the global Muslim community with speed and ease”He said operations would be launched soon under MBO Bank (Labuan) Ltd and offer state-of-the-art services to transform pilgrimage finance.
“With over 2 million Haji pilgrims annually and tens of millions performing Umrah , pilgrimage represents one of the largest recurring financial ecosystem in the Muslim world, yet largely fragmented , MBO Bank aims to bridge this gap” , HussianThe focus will also on the BIMP-EAGA corridor with expansion into South Asia ,Africa, Central Asia and entering into strategic collaborations with Islamic banks, fintech players, Haji operators world-wide and rollout a unified digital infrastructure for pilgrimage savings and payments.
Hussian said he valued LFSA approval and would strive to put Labuan’s digital Islamic banking in the global map.
