Kenanga, Revenue and Sarawak state applies for digital bank license

by TMR / pic by TMR FILE

A CONSORTIUM comprising Kenanga Investment Bank Bhd, Revenue Group Bhd, and Sarawak State has submitted its application for a digital banking licence from Bank Negara Malaysia (BNM).

In a filing to Bursa Malaysia today the investment bank said a special purpose vehicle for a consortium called SSG Digital Resources Bhd has been formed for the application of the license.

“The Consortium, which benefits from the complementary strengths of its three strategic partners, aims to improve and transform the lives of underserved and unserved Malaysians, including individuals and micro/ small/ medium businesses, through transparent and affordable digital banking solutions,” said Kenanga to the bourse filing.