KUALA LUMPUR, 30 May 2024 — AEON Credit Service (M) Berhad (AEON Credit) celebrated the launch of its associated company, AEON Bank (M) Berhad(“AEON Bank”) on 26 May 2024, marking its establishment as Malaysia’s first Islamic digital bank.
This is a significant milestone in reaffirming AEON Credit’s commitment towards financial inclusivity through AEON Bank. The journey began in June 2021 when AEON Financial Service Co., Ltd (Japan) and AEON Credit Service (M) Berhad, submitted an application to Bank Negara Malaysia for an Islamic digital banking license.
Subsequently, AEON Bank received a license from Bank Negara Malaysia (BNM) and the Minister of Finance on 8 January 2024 to commence its digital banking operations in Malaysia, offering digital financial solutions that adhere to Shariah banking principles.
Currently, AEON Bank offers digital banking products such as the Savings Account-i, Savings Pots with customisable optimisation features, budgeting tools and more. Users who activate their accounts will immediately gain access to their virtual AEON Bank x Visa Debit Card-i and can request for their own physical Debit Card-i. Additionally, customers who are in the AEON Points Programme will automatically have their membership seamlessly integrated with the AEON Bank app, allowing them to enjoy exclusive benefits and rewards when making payments at AEON Group’s outlets and merchants. This integration significantly enhances the value and convenience for customers, leveraging the comprehensive AEON ecosystem. Accumulated AEON points can be converted into cash and directly credited to the customer’s AEON Bank account, providing even greater financial flexibility and rewards.
Raja Teh Maimunah, Chief Executive Officer of AEON Bank, says, “We are deeply humbled and honoured
by the trust placed in us to lay the foundations in building Malaysia’s first fully Islamic Digital Bank. This
is a significant milestone for AEON Group in Malaysia after 40 years of presence in the country. Our
mission is to offer safe, simplified and inclusive Shariah compliant digital banking solutions to all
Malaysians. We thank Malaysians for the overwhelming response thus far. We are in the early phase of
our product rollout and will continue to introduce more products and features for our personal banking
customers. Over time, we will expand our products and services to small businesses.”
“AEON Credit has a long and established track record of promoting financial inclusion by providing access to financing to individuals who have traditionally not been able to access funding. AEON Bank will play a critical role in facilitating our commitment to ‘Bring Finance Closer to Everyone’ by enabling even more Malaysians, especially the underserved segments, to access banking services that may have been previously unavailable with traditional banks,” says Daisuke Maeda, Managing Director of AEON Credit.
As part of the AEON Group Malaysia, this monumental milestone not only marks a new chapter for AEON Bank, but also reflects the continuous growth, innovation and fintech diversification within the entire AEON Group. It reaffirms our commitment towards investing strategically in Malaysia and contributing to the nation’s economic development.
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