Three firms team up to seek Islamic digital banking license

Green Packet Bhd, ZICO Holdings Inc, and M24 Tawreeq Sdn Bhd have formed a consortium to jointly submit an application for one of five digital banking licences to be issued by Bank Negara Malaysia. The consortium’s application is focused on establishing an Islamic digital bank.

The consortium merges Green Packet’s expertise in technological solutions which includes a cashless fintech ecosystem designed for underserved communities, ZHI’s proficiency in business and financial advisory as well as Shariah regulatory compliance, together with M24 Tawreeq’s understanding and experience in Shariah-compliant financial offerings tailored to the needs of the underserved micro, small and medium enterprises (MSME) segment in Malaysia.

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