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Star Media Group throws hat into the ring for digital banking licence

Star Media Group throws hat into the ring for digital banking licence
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Malaysia digital banking lures dozens of firms as fintechs expand in Asia

Anshuman Daga
5 minute read
A general view of the Central Bank of Malaysia (Bank Negara Malaysia) in Kuala Lumpur, Malaysia, July 31, 2019. REUTERS/Lim Huey Teng
SINGAPORE, July 1 (Reuters) - Southeast Asian ride-hailing-to-fintech group Grab and budget airline AirAsia (AIRA.KL) were among more than a dozen bidders involving over 50 companies that are vying for digital banking licences in Malaysia, people familiar with the matter said.
Others who submitted bids by Wednesday s deadline included telecoms operator Axiata (AXIA.KL) and a consortium backed by Chinese tech firm Tencent (0700.HK), said the sources.
They have been drawn in by relatively low financial entry barriers and the promise of a growing army of young smartphone users in a country with a population of more than 32 million. ....

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