AEON Bank opens registration of interest for Malaysia’s first Shariah-compliant digital bank

Malay Mail
Malay Mail

KUALA LUMPUR, Feb 22 ― After GXBank opened its doors to customers, AEON will follow suit as AEON Bank is opening registration of interest for future customers. AEON Bank received the official green light from Bank Negara Malaysia (BNM) earlier this year for a phased roll-out of its services.

According to AEON Bank’s official Facebook page, they have opened registration of interest for the public, and they are inviting everyone to register to be updated on AEON Bank’s upcoming rollout. All the public needs to do is scan the QR code in the Facebook post, and it will bring the user to the registration site – with users only needing to share their name and email address.

Shariah-compliant digital banking

Like GXBank, AEON Bank will have its digital banking app. For now, the app is not available to the public, but we have seen it on Google’s PlayStore as well as Apple’s AppStore.

Based on the preview images, future customers can expect saving account services as well as DuitNow Transfer transactions. As this is a full bank, all money in the savings account will see profit, and for those who are looking for it, AEON Bank is fully Syariah-compliant. There is also a built-in expense tracker and a Personal Financial Management feature where customers can set aside money for a goal.

Alongside the normal banking features, the app also shows AMP points collection. As the bank is still not officially launched, there are no hints on what the AMP points are for or what they can be used for. But some reports say AMP stands for AEON Member Plus, and it could be the same points that are used in the AEON Wallet.

We tried to install the app on our devices, but we failed to pass the registration page. The app may be still in an internal-only testing mode for now.

Phased rollout by the first half of 2024

In an earlier coverage, we shared that AEON Bank said it targets to unveil its phased rollout within the first half of 2024. With this first marketing blitz, it suggests that AEON is on track to launch AEON Bank by that period.

AEON Bank is one of the five digital banks coming to Malaysia. The bank is operated by AEON Credit and Aeon Finance Services, which owns 50 per cent of shareholding each. Initially known as ACS Digital Berhad, the company is officially named AEON Bank (M) Berhad. The Islamic digital bank is an associate company of AEON Credit Service (M) Berhad (“AEON Credit”) and a subsidiary of AEON Financial Service Co., Ltd. (“AFS Japan”). ― SoyaCincau