MoF relaxes equity requirement for 30% stake to be reserved for Malaysians, especially bumiputeras.
AEON Credit and AEON Financial Service Co each have a 50% stake in ACS Digital Bhd, an Islamic digital bank.
In a filing with Bursa Malaysia yesterday, AEON Credit said the MoF gave its approval for its parent, Japan-based AEON Financial Service Co Ltd , to hold an 80.75% stake in the new digital bank. MoneyLion subsequently pulled out after the licence was awarded, leaving AEON Credit and AFS to form ACS Digital Bhd , the Islamic digital bank entity with equal shareholdings of 50% each.
BNM also approved the proposed shareholding structure for ACSD, with AEON Credit and AFS having equal proportions of 50%.
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