KAF Digital Bank was officially launched only about six months ago, but now it has been reported that KAF Investment Bank has started looking for a buyer to become the new owner of KAF Digital Bank. According to TheEdge, the digital bank may be sold for around RM80 million.
KAF Digital Bank is one of the Sharia-compliant digital banks led by a consortium consisting of KAF Investment Bank, Carsome, Jirnexu, StoreHub and MoneyMatch. KAF Investment Bank is said to have a stake of 84%, while the others have a stake of 4%.
The reason behind this sale was not disclosed. Since its launch, KAF Digital Bank has not been widely marketed, and the application also does not have a modern design compared to other digital banking service providers.
At present, it is not known whether Bank Negara will allow KAF Digital Bank to be sold to a new owner or otherwise.
