AEON Bank today officially launched their banking services, making them the first Islamic digital bank in Malaysia. The bank, which uses a combination of a cherry blossom-based logo with Islamic elements, offers returns of up to 3.88% for a limited time, and is the only digital bank that is sharia-compliant at the moment.
AEON Group had previously entered the Malaysian market in 1985 in the retail arena, and subsequently expanded its offering of financial services and loans, and now it continues through the offering of AEON Bank. For the introductory phase, it offers facilities for transferring and receiving money, opening different "pockets" for savings, offering physical cards for withdrawals and payments, as well as offering AEON Points integration. In the coming months, the integration of other financial services is expected to be added to this AEON Bank application.
AEON Bank offers 3000 AEON Points upon registration, which can be converted to RM15 cash credit directly through the app. Existing users with AEON Points reward points will also be integrated directly to this AEON Bank. Users will also receive reward points when using AEON Bank to shop – not only at AEON supermarkets, but also at other stores.
Speaking at the launch as well, AEON Bank aims for the introduction of Google Pay and Apple Pay support for their users. However, no timeline has been shared for it at this time. AEON Bank also wants to introduce solutions for enterprises and businesses as early as 2025.
For interested users, you can register AEON Bank today directly through the AEON Bank application on Android and iPhone.