Grab-Singtel JV joins race for digital bank licences in Malaysia

A joint venture between super app Grab and Singapore-listed telecom operator Singtel is among more than a dozen applicants for a digital banking licence in Malaysia.

Malaysia’s central bank, Bank Negara Malaysia (BNM), will issue up to five digital bank licences by the first quarter of 2022. The deadline for the applications was Wednesday, June 30. 

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