Sarawak govt joins Kenanga Investment & Revenue Group to vie for digital banking licence

KUALA LUMPUR: SSG Digital Resources Bhd, a special purpose vehicle for a consortium comprising the Sarawak government, Revenue Group Bhd and Kenanga Investment Bank Bhd, has submitted its application for a digital banking licence from Bank Negara Malaysia (BNM).

This is pursuant to the Licensing Framework for Digital Banks and Application Procedures for New Licences under the Financial Services Act 2013 issued by Bank Negara Malaysia.

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, both Revenue Group and Kenanga Investment announced in a separate filing to Bursa Malaysia.

As at 9.53 am, the share prices of Revenue Group and Kenanga Investment Bank were flat at RM1.88 and RM1.27, respectively. – Benama