No Result
View All Result
Absolute Wellness
  • Home
  • Fashion
    All the Best Looks from the 2022 Cannes Film Festival

    All the Best Looks from the 2022 Cannes Film Festival

    Time is a Construct at Gucci’s Cosmogonie Show

    Time is a Construct at Gucci’s Cosmogonie Show

    Meet the Canadian Designer Who Dressed Kim Kardashian West

    Meet the Canadian Designer Who Dressed Kim Kardashian West

    I Tried Dermaplaning For the First Time: Here’s Everything You Need to Know

    I Tried Dermaplaning For the First Time: Here’s Everything You Need to Know

    This M’sian designs batik clothes that customers willingly wait up to 4 weeks to buy

    This M’sian designs batik clothes that customers willingly wait up to 4 weeks to buy

    Celebs Served Up PDA on the BBMAs Red Carpet

    Celebs Served Up PDA on the BBMAs Red Carpet

    All the Looks from the Junos Red Carpet

    All the Looks from the Junos Red Carpet

  • Beauty
    • All
    • Beauty
    • Fashion
    • Lifestyle
    • Travel
    A look at the rise of telehealth startups in S’pore – will it stay in the post-pandemic era?

    A look at the rise of telehealth startups in S’pore – will it stay in the post-pandemic era?

    10 yrs into renting cheaper, mix-&-match wedding décor, this M’sian biz isn’t slowing down

    10 yrs into renting cheaper, mix-&-match wedding décor, this M’sian biz isn’t slowing down

    Tech giants to social enterprises: How they use tech to better lives, even for seniors and PwDs

    Tech giants to social enterprises: How they use tech to better lives, even for seniors and PwDs

    Founder to fraudster: 9 startup tips I learnt from a TV show on Elizabeth Holmes’ downfall

    Founder to fraudster: 9 startup tips I learnt from a TV show on Elizabeth Holmes’ downfall

    The good, the bad, the ugly of Sea: Shopee’s revenue doubles but cash cow Garena hits a wall

    The good, the bad, the ugly of Sea: Shopee’s revenue doubles but cash cow Garena hits a wall

    Advanced online registration is mandatory for Char Dham Yatra

    Trending Tags

    • Best Dressed
    • Oscars 2017
    • Golden Globes
    • Fashion Week
    • Red Carpet
    • D.I.Y. Fashion
    • Celebrity Style
  • Lifestyle
  • Travel
  • Home
  • Fashion
    All the Best Looks from the 2022 Cannes Film Festival

    All the Best Looks from the 2022 Cannes Film Festival

    Time is a Construct at Gucci’s Cosmogonie Show

    Time is a Construct at Gucci’s Cosmogonie Show

    Meet the Canadian Designer Who Dressed Kim Kardashian West

    Meet the Canadian Designer Who Dressed Kim Kardashian West

    I Tried Dermaplaning For the First Time: Here’s Everything You Need to Know

    I Tried Dermaplaning For the First Time: Here’s Everything You Need to Know

    This M’sian designs batik clothes that customers willingly wait up to 4 weeks to buy

    This M’sian designs batik clothes that customers willingly wait up to 4 weeks to buy

    Celebs Served Up PDA on the BBMAs Red Carpet

    Celebs Served Up PDA on the BBMAs Red Carpet

    All the Looks from the Junos Red Carpet

    All the Looks from the Junos Red Carpet

  • Beauty
    • All
    • Beauty
    • Fashion
    • Lifestyle
    • Travel
    A look at the rise of telehealth startups in S’pore – will it stay in the post-pandemic era?

    A look at the rise of telehealth startups in S’pore – will it stay in the post-pandemic era?

    10 yrs into renting cheaper, mix-&-match wedding décor, this M’sian biz isn’t slowing down

    10 yrs into renting cheaper, mix-&-match wedding décor, this M’sian biz isn’t slowing down

    Tech giants to social enterprises: How they use tech to better lives, even for seniors and PwDs

    Tech giants to social enterprises: How they use tech to better lives, even for seniors and PwDs

    Founder to fraudster: 9 startup tips I learnt from a TV show on Elizabeth Holmes’ downfall

    Founder to fraudster: 9 startup tips I learnt from a TV show on Elizabeth Holmes’ downfall

    The good, the bad, the ugly of Sea: Shopee’s revenue doubles but cash cow Garena hits a wall

    The good, the bad, the ugly of Sea: Shopee’s revenue doubles but cash cow Garena hits a wall

    Advanced online registration is mandatory for Char Dham Yatra

    Trending Tags

    • Best Dressed
    • Oscars 2017
    • Golden Globes
    • Fashion Week
    • Red Carpet
    • D.I.Y. Fashion
    • Celebrity Style
  • Lifestyle
  • Travel
No Result
View All Result
Absolute Wellness

Grab-Singtel applies for digital bank licence in M’sia after successful bid in S’pore

administrator by administrator
July 1, 2021
in Lifestyle
0
Share on FacebookShare on Twitter

Singapore’s largest telco Singtel and its digibank partner Grab has applied for a digital bank licence in Malaysia.

Singtel made the announcement on the Singapore Exchange, adding that the application was made together with a consortium of other investors.

Based on the guidance provided by Bank Negara Malaysia, Singtel said the country’s central bank is expected to issue up to five digital bank licences by the first quarter of next year.

Grab-Singtel digibank

The Grab-Singtel consortium was one of the winners of Singapore’s digital full-bank licence bid last year. The consortium has been given the green light by the local central bank to operate a digital bank in Singapore.

The other group that bagged the bid for a digital full-bank licence was consumer Internet company Sea Group. These digibanks are expected to emerge onto Singapore’s banking scene early next year.

Image Credit: DealStreetAsia

For Malaysia, big names that had indicated their desire to apply for a licence include telecommunications giant Axiata through a tie-up with local bank RHB Group and budget airline AirAsia via its financial app BigPay.

Sea is also said to be interested in a digibank licence in Malaysia too.

Focus on unserved and underserved customers

The Malaysian central bank is pushing for the adoption of digital transactions, as going cashless has gained importance amid the pandemic.

The target group will be the unserved and underserved, including those who have higher risk profiles, low financial literacy, or limited understanding on how to access financial services.

Image Credit: SCMP

Bank Negara Malaysia is expected to issue the licences with an asset threshold of no more than 3 billion ringgit (US$722.6 million) for the first three to five years of operations.

The limit will be removed after that, and the digibanks will subject to similar regulations as traditional banks.


From 1 July 2021, Vulcan Post’s premium articles will be hidden behind a paywall. Subscribers will be able to enjoy exclusive articles with a deeper level of coverage and insight on verticals that include government technology, electric vehicles, cryptocurrency and e-commerce. You can check out our premium articles here and subscribe to us here.


Featured Image Credit: Reuters / Singtel

Also Read

Grab’s S$54B SPAC deal set to light up IPO path for Southeast Asian startups

The post Grab-Singtel applies for digital bank licence in M’sia after successful bid in S’pore appeared first on Vulcan Post.

Source

Tags: digital bankingdigital banking licensedigital banking malaysiadigital banksGrabGrab-SingtelGrabVenturesNews ReaderSingaporeansingtel
Previous Post

Here’s a patisserie that’ll do Kuantan proud with desserts you’d expect from 5-star hotels

Next Post

They left KL’s concrete jungle and grew a multi-revenue biz in a 6-acre organic farm

administrator

administrator

Next Post
They left KL’s concrete jungle and grew a multi-revenue biz in a 6-acre organic farm

They left KL’s concrete jungle and grew a multi-revenue biz in a 6-acre organic farm

Search

No Result
View All Result
Absolute Wellness

© 2020 JNews - AbsoluteWellness.Com

Links

  • Home
  • Fashion
  • Beauty
  • Lifestyle
  • Travel

Follow Us

No Result
View All Result
  • Home
  • Fashion
  • Beauty
  • Lifestyle
  • Travel

© 2020 JNews - AbsoluteWellness.Com